WATERLOO, Iowa–Veridian Credit Union said it is offering interest-free “Financial Hardship Loans” to current members who are John Deere employees and are on strike.
“The loans are designed to ease the financial burden caused by income loss as a result of the current labor strike,” the credit union said.
Loan amounts of up to $1,000 are available with terms available out to 12 months. The first payment date is delayed to 90 days from signing.
“Veridian was founded by John Deere employees who wanted to offer their coworkers an alternative to commercial banks and other for-profit financial institutions in 1934,” said Veridian President and CEO Renee Christoffer. “Today, we’re still a not-for-profit financial cooperative, and we’re still here to help.”
According to the credit union, eligibility requirements for Financial Hardship Loans include membership established no later than Oct. 20, 2021.