In the past seven years, I’ve written more than 25 blog posts about the limited-time CD Specials offered by Iowa-based GreenState Credit Union (GreenState). The CD Specials are usually available for at least a month before being removed from the product line. The current Specials are a 15-month CD (0.90% APY, $100k; 0.80% APY, $1k) and a 25-month CD (1.00% APY, $100k; 0.90% APY, $1k).
|1.00*%||$100k||-||GreenState Credit Union||25 Month CD Special|
|OTHER TIERS: 0.90% → $1k - $100k|
|0.90*%||$100k||-||GreenState Credit Union||15 Month CD Special|
|OTHER TIERS: 0.80% → $1k - $100k|
Note: If you look at the drop-down box listed under “Details,” it looks like both CD Specials have just experienced large rate drops. The software that tracks rates captures the current APY without taking into account any breaks of product availability. For example, while the 25-month CD Special had a 2.60% APY in April 2019, it hasn’t been part of the product for about two years. When it became available again this week, the software automatically plugged in the new rate into the already existing 25-month CD Special rate history, skewing the continuity of the APYs.
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.
According to CSR, 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 and GreenState doesn’t participate in the CO-OP Shared Branch network, either.
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 option was short-lived, with the FOM significantly narrowed before the year was out. The current FOM includes the following:
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 are,
- 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 24 Iowa branches located in Ankeny, Bettendorf, Cedar Rapids (3), Clive, Coralville, Davenport, Des Moines (2), Dubuque, Fort Dodge (2), Grinnell, Hiawatha, Iowa City (3), Marion, North Liberty, Urbandale, Waterloo, Waukee, and West Des Moines. As stated on GreenState’s COVID-19 Q&A page
The health and safety of our employees, members and the communities we serve will always be our highest priority. With that focus in mind, masks are required when entering GreenState Credit Union branches.
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 and 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 3.06% (excellent), based on March 31, 2021 data. In the past year, GreenState increased its total non-brokered deposits by $773.7 million, an excellent annual growth rate of 18.03%. 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 31st largest credit union in the country, with more than 271,000 members and assets in excess of $7.4 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 CD Specials Compare
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, GreenState Credit Union’s 25-month CD Special APY currently ranks first, regardless of minimum deposit requirements.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|1.00% APY||25-Month CD Special ($100k min)||GreenState Credit Union|
|0.90% APY||25-Month CD Special ($1k min)||GreenState Credit Union|
|0.90% APY||2-Year Fixed CD ($500 min)||Lafayette Federal Credit Union|
|0.85% APY||24-Month CD ($500 min)||Abound Credit Union|
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, GreenState Credit Union’s 15-month CD Special APY currently ranks second, regardless of minimum deposit requirements.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|1.00% APY||18-Month Certificate Special ($500 min)||USALLIANCE Financial|
|0.90% APY||15-Month CD Special ($100k min)||GreenState Credit Union|
|0.85% APY||15-Month Jumbo Share Certificate Special ($100k min)||Dupaco Community Credit Union|
|0.80% APY||15-Month CD Special ($1k min)||GreenState Credit Union|
The above information and rates are accurate as of 9/9/2021.
To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.