GreenState Credit Union Adds Competitive 15-Month Add-To CD Special

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Deal Summary: 15-Month Add-To CD Special, 5.60% APY, $1k minimum opening deposit, new money, $100k total maximum contribution.

Availability: Easy membership requirement

Iowa-based GreenState Credit Union (GreenState) recently added a 15-month Add-To CD Special with a competitive 5.60% APY.

This limited-time offer requires a minimum opening deposit of $1k of new money, which is defined in the fine print on the GreenState Rates page as follows:

To be defined as “New Money” funds must not be currently on deposit at GreenState Credit Union. Funds deposited to a depository account type (such as Share Savings or Checking) and moved to a Certificate will be considered New Money if the Certificate is opened within seven calendar days. If funds are moved from GreenState Credit Union to another financial institution, funds cannot be redeposited as New Money for at least 60 days.

The Add-To CD Special allows additional deposits through the term with the following limitations:

Minimum Add-To amount is $1,000 per contribution, with a maximum of $20,000 per month during the first 6 months and $100,000 total maximum contribution. Contributions must be new money only. To add to the certificate, stop by a branch or call 800-397-3790.

Early Withdrawal Penalty

The Early Withdrawal Penalty is no longer listed on GreenState’s website, but CSR confirmed the following is still in effect:

Certificates with a term of less than a year will be calculated equal to the number of days in the certificate term.

Certificates with terms of a year or longer will be charged 365 days of dividends. Loss of principal investment is possible.

Availability

Headquartered in North Liberty, Iowa, GreenState Credit Union’s field of membership (FOM) began to include all U.S. citizens/resident aliens in early 2020. The easy membership requirement (EMR) option was short-lived, with the FOM significantly narrowing before the year was out (see “Field of Membership” below).

GreenState has quietly started to offer a nationwide EMR fairly recently, although you won’t find the EMR option listed on the “Join” page or the online application. According to a GreenState official, any out-of-area individual interested in joining can call the toll-free number (800.397.3790) and will be given instructions as to how to join the Iowa Consumer Council/American Consumer Council, which will qualify for GreenState membership.

Field of Membership

Residency: Anyone who lives or works anywhere in Iowa, or in a county in a state abutting Iowa qualifies for membership. Those counties include,

  • Illinois – Boone, Carroll, DuPage, Hancock, Henderson, Henry, Jo Daviess, Kane, Knox, McHenry, Mercer, Ogle, Rock Island, Stephenson, Warren, Whiteside, Will (north of I-80), and Winnebago
  • Nebraska – Burt, Cass, Dakota, Douglas, Otoe, Sarpy, Thurston, and Washington
  • South Dakota – Brookings, Lincoln, Minnehaha, Moody, and Union
  • Wisconsin – Crawford, Grant, and Lafayette

School Affiliation: All University of Iowa students, staff, and alumni qualify for membership.

Family Relationship: Direct relatives of current members are also welcome to apply.

Organization Relationship: Members of the Iowa Consumer Council/American Consumer Council are eligible to join.

Account Opening

Joining GreenState can be done online,, by phone (800.397.3790), or in person at any of 23 Iowa branches located in Ankeny, Bettendorf, Cedar Rapids (3), Clive, Coralville, Davenport, Des Moines (2), Dubuque, Fort Dodge (2), Grinnell, Iowa City (3), Marion, North Liberty, Urbandale, Waterloo, Waukee, and West Des Moines.

Following the acquisition of Oxford Bank & Trust (Oak Brook, Illinois), GreenState now has six Illinois branches, located in Addison (2), Naperville (2), Plainfield, and Westmont.

Establishing a GreenState membership requires a minimum $5 deposit in a share savings account. Once a membership is established, opening a CD Special can be done online, by phone (844.300.5810), or at any of the above-mentioned branch locations.

As stated on the Certificates and IRAs page,

To open a certificate stop by any branch location, call us at (844) 300-5810, or chat with us online.

GreenState participates in the CO-OP ATM network, but not the Shared Branch network. GreenState also belongs to the Allpoint ATM Network, providing its members with free access to over 43,000 ATMs throughout the country.

Funding and Other Details

The following information is from a LiveChat with CSR.

  • Funding – ACH or check.
  • CO-OP Shared Branch Participant – No.
  • Dividends – Compounded/credited monthly; can be withdrawn penalty-free.
  • Maturing Funds – Transfer to share savings account, after which a cashier’s check, ACH, or wire ($25 fee) can be requested.
  • Beneficiaries – Unlimited, percentages can be assigned, Social Security numbers are required.
  • Grace Period – 10 calendar days before renewal into a near-term certificate. There is a Certificate Renewal Request Form that can be submitted up to 20 calendar days before a certificate's maturity date or up to 10 calendar days after a certificate’s maturity date.
  • Credit Check – Hard pull when joining.

Credit Union Overview

GreenState Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 8.00 (excellent) based on June 30, 2023 data. Please refer to our financial overview of GreenState Credit Union (NCUA Charter # 60269) for more details.

GreenState Credit Union is currently the largest credit union in Iowa and the 20th largest credit union in the country, with more than 447,000 members and assets in excess of $11.2 billion. Established in 1938 as the State University of Iowa Hospital Employees Credit Union, the original membership was exclusive to the staff of University Hospital. In 1966, the FOM was expanded to serve all University of Iowa staff, students, and alumni and was aptly renamed the University of Iowa Credit Union. The FOM expanded further in 1988, when all Iowa residents not affiliated with the University of Iowa were added.

In 2019, an Iowa State Legislature budget bill requirement forced UICCU to rebrand and the credit union turned to its membership to suggest names. At first, the choice of “GreenState” was a bit controversial, as some members saw it as a political statement. In fact, the member who suggested “GreenState” came up with the name as he was flying across Iowa: as he looked out the plane’s window, all he could see was green.

How the 15-Month Add-To CD Special Compares

When compared to the Add On CDs tracked by DepositAccounts.com, which require a similar minimum deposit ($5k or less) and are not limited by a low balance cap, the GreenState Credit Union 15-Month Add-To CD Special currently ranks second.

The above information and rates are accurate as of 10/9/2023.

To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.

Related Pages: Chicago CD rates, Rockford CD rates, Cedar Rapids CD rates, Des Moines CD rates, Davenport CD rates, 1-year CD rates, nationwide deals

Comments
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