GreenState Credit Union Boosts 13- and 26-month CD Special Rates

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Deal Summary: CD Specials – 26-month (2.50% APY) and 13-month (2.00% APY), $1k minimum deposit.

Availability: All Iowa counties and counties in Illinois, Nebraska, South Dakota, and Wisconsin that border on Iowa.

This week, Iowa-based GreenState Credit Union (GreenState) has added two CD Specials to its product line: 13-month (2.00% APY) and 26-month (2.50% APY). The minimum opening deposit for either CD Special is $1k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.60%$1k-GreenState Credit Union26 Month CD Special
2.10%$1k-GreenState Credit Union13 Month CD Special
Rates as of June 30, 2022.

In the past eight years, I’ve written nearly 30 blog posts about GreenState’s limited-time CD Specials. In the past, a CD Special was usually available for at least at month, but in the past six months, the “limited-time” seems to have been stretched out. Currently, there are three other CD Specials listed on GreenState’s Certificates page that have been available for several months.

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. Loss of principal investment is possible.

According to CSR, the first step in opening a CD Special is opening a Share Savings account that 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 for outgoing funds and GreenState doesn’t participate in the CO-OP Shared Branch network, either.

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 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 a county in Illinois, Nebraska, South Dakota, or Wisconsin that borders on Iowa qualifies for membership. Those counties are,

  • Illinois – Carroll, DuPage, Hancock, Henderson, Henry, Jo Daviess, Knox, Mercer, Rock Island, Warren, Whiteside, Will (north of I-80)
  • 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.

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

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.

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.

Credit Union Overview

GreenState Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.17% (excellent), based on December 31, 2021 data. In the past year, GreenState increased its total non-brokered deposits by $1.18 billion, an excellent annual growth rate of 24.43%. 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 26st largest credit union in the country, with more than 338,000 members and assets in excess of $9 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 13-Month CD Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, only one credit union has a higher rate than currently offered on the GreenState Credit Union 13-month CD Special. The following table compares the 13-month CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

How the 26-Month CD Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, one bank and one credit union have a higher rate than currently offered on the GreenState Credit Union 26-month CD Special. The following table compares the 26-month CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 5/20/2022.

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, Cedar Rapids CD rates, Des Moines CD rates, Davenport CD rates, 1-year CD rates, 5-year CD rates

Comments
Hooked
  |     |   Comment #1
Thanks, Ken. Does anyone have experience with their RewardsPlus Checking? One of the monthly requirements is 15 credit (not debit) card transactions and I believe you get points for using the credit card. A new branch near me is offering 3.5% APY for RewardsPlus Checking on balance up to $19,999 until January 1, 2023.

Any comments from existing/past GreenState CU customers would be appreciated.
just_me
  |     |   Comment #2
My wife and I have a RewardsPlus Checking account at Green State and a Green Account money market account for a few months now and have generally been satisfied with it.
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Availability: All Iowa counties and counties in Illinois, Nebraska, South Dakota, and Wisconsin that border on Iowa.

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GreenState Credit Union’s (GreenState) R2 Checking account is a rewards checking account (RCA) that has a very unique feature: credit card usage is needed to fulfill qualifying requirements. The vast majority of reward checking accounts require debit card usage to fulfill qualifying requirements. For those who have avoided reward checking due to the debit card usage requirements, the R2 Checking may be something to consider.

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