Greater Iowa CU Adds New RCA: Greater Checking Account


Availability: Residents of 33 Iowa counties; several SEGs; members of previously merged credit unions; military relationship.

Greater Iowa Credit Union (Greater Iowa) has added a new reward checking account: Greater Checking, which earns 3.04% APY on qualifying balances up to $20k. Qualifying balances over $20k earn 0.15% APY, with non-qualifying balances earning 0.01% APY.

Greater Checking Qualifying Requirements

  • Open and maintain a share account ($5).
  • Have at least 20 debit card purchases.
  • Have one Direct Deposit of at least $100, or one Bill Pay transaction.
  • Be enrolled in eStatement.

The Greater Checking account has no minimum balance requirement or monthly fees, and requires a minimum of $50 to open. There is a limit of one account per tax ID number per household. ATM fees will be reimbursed up to $10 per month.


Headquartered in Ames, Greater Iowa Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, worship, or attend school in the following 33 Iowa counties eligible to join.

Iowa Counties - Adair, Audubon, Boone, Butler, Calhoun, Carroll, Clarke, Crawford, Dallas, Franklin, Greene, Grundy, Guthrie, Hamilton, Hardin, Harrison, Ida, Jasper, Lucas, Madison, Marion, Marshall, Monona, Polk, Poweshiek, Sac, Shelby, Story, Tama, Warren, Webster, Woodbury, and Wright.

Greater Iowa’s FOM is spelled out in greater detail on the website, listing 25 different ways to qualify for membership that can be categorized as follows:

  • SEGs
  • Members of twelve merged Credit Unions
  • Military relationship
  • Family or household members

The application process can be started online, but must be completed by mail or in person at any of seven Iowa branches located in Ames (3), Denison, Des Moines, Indianola, and West Des Moines.

If you would like to open a Greater Checking account or convert an existing account, our
member service representatives can assist with this process. Representatives in our Contact
Center can also assist members - call 1.800.296.9064 or email

Credit Union Overview

First State Bank (NCUA Charter # 64203) has an overall health grade of "A" at, with a Texas ratio of 4.02% (excellent) based on March 31, 2016 data. In the past year, Greater Iowa has increased its total deposits by $25.5 million, an excellent annual growth rate of 8.39%. Please refer to our financial overview of Greater Iowa Credit Union for more details.

Established in 1932 as the Iowa State College Building and Grounds Credit Union, today’s Greater Iowa Credit Union is Iowa’s 11th largest credit union, with over 28,600 members and assets in excess of $358 million. The Credit Union’s website has a detailed 10-page history, including some great photos. My personal favorite is from 1960 when the Credit Union office operated out of a closet. A hand-lettered sign reading “CREDIT UNION, Hours 11:30 AM – 1:30 PM, OPEN NOONS,” hangs over the door. I’m not quite sure what “Open Noons” means.

How Greater Checking Compares

When compared to the 46 High Yield Reward Checking Accounts tracked by, which are available to Iowa residents and have maximum qualifying balances of at least $20k, Greater Iowa Credit Union’s Greater Checking ranks in the top eight. The following is a sampling of those eight accounts.

The above rates are accurate as of 6/4/2016.

To look for the best nationwide Reward Checking Account rates and the best Reward Checking Account rates in your state, please refer to our High Yield Reward Checking Account rates table or our new Rates Map page.