The Ag Startup Engine announced Monday that Veridian Credit Union joined the Ag Startup Engine effort, according to a news release.
According to the release, Veridian Credit Union will bring education, mentoring and financing resources to Iowa entrepreneurs and startups that focus on agriculture technology. Veridian is a not-for-profit financial cooperative owned by its members with more than 750 employees in 30 branches.
The Ag Startup Engine is located at the Iowa State University Research Park in Ames, Iowa.
Monte Berg, president and CEO of Veridian Credit Union, called their involvement with the Ag Startup Engine a natural fit.
“Veridian was founded in agriculture when a group of John Deere employees chartered our credit union in Waterloo, Iowa in 1934,” Berg explained. “Participating in the ASE is a way to honor our past while joining other investors to support economic growth in Iowa. We’re grateful for the opportunity to contribute to the ASE’s success.”
Veridian is the eighth member of the ASE, joining: Hertz Farm Management, Iowa Farm Bureau’s Renew Rural Iowa, Next Level Ventures, Summit Agriculture Group, Ag Leader Technologies, Ag Ventures Alliance and Peoples Company.
Kevin Kimle, director of Iowa State University’s Agricultural Entrepreneurship Initiative, said Veridian will add a much-needed business lender perspective to the investment group.
“Veridian’s history from being founded as an agricultural business credit union, along with its innovative team, will bring great insight to the entrepreneurs at the Ag Startup Engine,” Kimle said.
The ASE was created in 2005.