Greater Iowa Credit Union Adds 27-Month CD Special

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

Two months ago, Greater Iowa Credit Union (GICU) was promoting a 19-month CD Special (1.61% APY). That CD Special is no longer available, but GICU is currently offer a 27-month CD Special (1.81% APY). The minimum opening deposit is $1k, with no stated balance cap. A far-less competitive 11-month CD Special (0.70% APY) is also available.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.81%$1k-Greater Iowa Credit Union27 Month CD Special
1.81%$1k-Greater Iowa Credit Union27 Month CESA Special
1.81%$1k-Greater Iowa Credit Union27 Month IRA Special (Traditional, Roth)
Accounts mentioned in this post. Rates as of January 16, 2017.

The 27-month CD Special is available as an IRA (Traditional, Roth, CESA) earning the same APY, with the same funding requirements.

As stated on the Deposit Rates page, the Early Withdrawal Penalty reads as follows:

Early withdrawal penalty of 90 days of interest will be imposed on certificates with a term of
one year or less and 180 days of interest on certificates with a term greater than one year.

Greater Checking

More than a year ago, GICU introduced its Greater Checking account, which continues to earn 3.04% APY on qualifying balances up to $20k. I have discussed this Rewards Checking Account in greater detail in a June 2016 blog post.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.04*%-$20kGreater Iowa Credit UnionGreater Checking
Accounts mentioned in this post. Rates as of January 16, 2017.

Availability

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.

Credit Union Overview

Greater Iowa Credit Union (NCUA Charter # 64203) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 4.91% (excellent) based on September 30, 2016 data. In the past year, Greater Iowa has increased its total deposits by $28.51 million, an excellent annual growth rate of 9.18%. 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 with nine members, today’s Greater Iowa Credit Union is currently Iowa’s ninth largest credit union, with over 29,600 members and assets in excess of $395 million.

How the CD Special Compares

When compared to the 265 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, Greater Iowa Credit Union’s 27-Month CD Special APY currently rank second.

Interest RateCD Length of TermCredit Union/Bank
1.91% APY28-Month CD SpecialCollins Community Credit Union
1.81% APY27-Month CD SpecialGreater Iowa Credit Union
1.65% APY26-Month Customized Jump Up eCDNorthwest Bank

The above rates are accurate as of 1/9/2017.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table, or our new Rates Map page.

Comments
Greater Iowa CU Features 19-month CD Special
Availability: Residents of 33 Iowa counties; several SEGs; members of previously merged credit unions; military relationship.

Greater Iowa Credit Union (Greater Iowa) is currently offering a 19-month CD Special (1.61% APY). The minimum opening deposit is $1k, with no stated balance cap. A far-less competitive 10-month CD Special (0.70% APY) is also available.

The 19-month CD Special is available as an IRA (Traditional, Roth, CESA) earning the same APY, with the same funding requirements.

As stated on the Deposit Rates page, the Early Withdrawal Penalty...

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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.
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