GreenState Credit Union Ups Rates On 8- And 17-Month CD Specials

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Deal Summary: CD Specials – 8-month (0.80% APY) and 17-month (0.85% APY), $1k minimum.

Availability: Iowa and counties in Illinois, Nebraska, South Dakota, and Wisconsin bordering on Iowa.

In February 2020, I wrote about GreenState Credit Union’s (GreenState) CD Specials, along with a new easy membership requirement (EMR). GreenState is again offering competitive rates on two CD Specials, but the EMR is gone. Even with the now-limited field of membership, the 8-month CD Special (0.80% APY) and 17-month CD Special (0.85% APY) are quite competitive. Both CD Specials can be opened with a $1k minimum deposit, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.75%$1k-GreenState Credit Union17 Month CD Special
Rates as of May 13, 2021.

Both CD Specials are available as IRAs (Traditional, Roth, and SEP), earning the same APYs with the same deposit requirements.

While GreenState offers an APY bonus of 0.05% for deposits greater than $100k on its regular CDs, the bonus 5 bps do not apply to any of the CD Specials.

As stated in the fine print on the Savings page, the Early Withdrawal Penalty reads as follows:

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.

In a Live Chat, CSR stated that the first step in opening a CD Special is opening a Share Savings account, which can be funded by credit card, or through an external checking or savings account.

You can then move money by connecting accounts in Online Banking, sending a check, or calling us with card information over the phone. The last option does have a fee of $26.50.

Once the CD matures, we can put the funds into the attached savings account and then you can request a check be mailed.

Unfortunately, ACH and wire transfers are still not available. GreenState does not participate in the CO-OP Shared Branch network, either.

Availability

Headquartered in North Liberty, Iowa, GreenState Credit Union began offering membership to all U.S. citizens/resident aliens in early 2020. At some point last fall, the field of membership (FOM) narrowed significantly and no longer includes an easy membership requirement option.

Residency: Anyone who lives or works anywhere in Iowa, or in counties in Illinois, Nebraska, South Dakota, or Wisconsin that border on Iowa qualifies for membership. Those counties include,

  • Illinois – Carroll, Hancock, Henderson, Henry, Jo Daviess, Knox, Mercer, Rock Island, Warren, and Whiteside
  • 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.

Joining GreenState can be done online,, by phone (800.397.3790), or in person at any of 19 Iowa branches located in Ankeny, Bettendorf, Cedar Falls, Cedar Rapids (3), Coralville, Davenport, Dubuque, Grinnell, Hiawatha, Iowa City (3), Marion, North Liberty, Waterloo, Waukee, and West Des Moines. As stated on GreenState’s COVID-19 Q&A page

The number of guests allowed in our lobbies will be limited. Maximum capacity counts will be posted at the front entry of each location. Upon reaching maximum capacity, it is requested that members wait in their cars until the next person leaves.

Appointments with a staff member at your local branch are recommended for any services beyond standard teller window services.

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 (800.397.3790), or at any of the above mentioned branch locations.

While GreenState does not participate in the CO-OP Shared Branch or ATM networks, it does belong to the Allpoint ATM Network, providing its members with free access to over 43,000 ATMs throughout the country.

Credit Union Overview

GreenState Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.35% (excellent), based on September 30, 2020 data. In the past year, GreenState increased its total non-brokered deposits by $1.04 billion, an excellent annual growth rate of 28.74%. 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 30st largest credit union in the country, with nearly 240,000 members and assets in excess of $6.8 billion. Established in 1938 as the State University of Iowa Hospital Employees Credit Union, the original membership included the staff of University Hospital exclusively. 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, a 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 CD Specials Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, GreenState Credit Union’s 8-month CD Special APY currently ranks first.

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available within the FOM, GreenState Credit Union’s 17-month CD Special currently ranks second.

The above rates are accurate as of 2/10/2021.

To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.

Related Pages: Cedar Rapids CD rates, Des Moines CD rates, Davenport CD rates, 1-year CD rates

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