Need That Money

Bank with Values: A Guide to GreenState Credit Union

Are you looking for a financial institution that aligns with your values and provides you with personalized banking services? Maybe it’s time to consider GreenState Credit Union, an Iowa-based financial cooperative that’s been around since the 1930s.

In this article, we’ll introduce you to GreenState Credit Union and what

Membership Requirements are required to join. We’ll also discuss why GreenState is ranked as one of the top banks in the country, according to the

Top 100 Banks for 2022 list.

Further, we’ll answer all your questions regarding GreenState’s checking accounts, including their different options, benefits, and requirements.

Membership Requirements

GreenState Credit Union is open to anyone who lives or works in Iowa or bordering counties. Also, University of Iowa staff and alumni can join, along with GreenState members and their immediate family members (such as spouses and children).

To become a member, you’ll need to fill out an application and deposit $5 in a savings account. The membership benefits include lower loan rates, higher savings rates, and access to other financial services.

GreenState was formerly known as the University of Iowa Community Credit Union, and it has been serving members since 1938. With over 230,000 members and $7.2 billion in assets, GreenState is the largest credit union in Iowa and the 13th largest in the country.

Top 100 Banks for 2022

GreenState Credit Union has been recognized as one of the top banks in the country, according to the GOBankingRates

Top 100 Banks for 2022 list. This list is based on a variety of factors, including customer service, products and services, and interest rates.

GreenState was ranked #40 on the list, outranking many traditional banks across the country. This ranking is a testament to GreenState’s commitment to providing excellent customer service and high-quality financial products and services.

Checking Accounts at GreenState Credit Union

GreenState Credit Union offers three checking account options – Free Checking, Rewards Checking, and RewardsPlus Checking. Free Checking: This account has no monthly service fees and no minimum balance requirements.

It also gives you access to over 30,000 surcharge-free ATMs, unlimited check writing, and free online and mobile banking. Basically, everything you need and nothing you don’t.

Rewards Checking: This account offers all the features of Free Checking plus cashback rewards on your debit card purchases, an Annual Percentage Yield (APY) of up to 0.25% on your account balance, and no fee for using non-GreenState ATMs.

RewardsPlus Checking: This account needs a minimum of $10,000 combined account balances and offers everything Rewards Checking does, plus additional perks such as free checks, free ID theft resolution services, and free financial coaching.

Account Benefits and Requirements

No matter which checking account option you choose, you’ll enjoy a few benefits such as no monthly service fees, free online and mobile banking, and access to thousands of surcharge-free ATMs. However, each account has its own set of requirements that you’ll need to meet to qualify for its benefits. Free Checking: requires opening a savings account with $5 in it and signing up for e-statements.

There are no other requirements, so it’s easy to use. Rewards Checking: To earn the cashback rewards, you need to make at least 12 debit card purchases per month of $5 or more and use your debit card for at least one ACH or online bill payment per month.

Additionally, you need to receive e-statements and have a minimum direct deposit of $500 per month. RewardsPlus Checking: To qualify for this account, you need to maintain a minimum combined balance of $10,000 in checking, savings, and loan accounts.

Additionally, you need to meet the same requirements as for the Rewards Checking account.

Conclusion

GreenState Credit Union has a lot to offer its members, including personalized financial services, lower loan rates, and higher savings rates. No matter what your banking needs are, there’s a GreenState checking account option that will work for you.

Plus, with access to thousands of surcharge-free ATMs and a commitment to excellent customer service, banking with GreenState is a smart choice.

3) Savings Accounts at GreenState Credit Union

Saving money is an essential part of financial wellness. GreenState Credit Union has multiple savings account options to fit everyone’s unique needs and goals.

Types of Savings Accounts

Hoppy’s Kids Club: This saving club offers children ages birth to 12 an account with no minimum balance requirements. They receive access to exclusive events hosted by the credit union, coloring books and other educational materials for financial education, and an Iowa Children’s Museum Pass just for being a member.

As a parent or legal guardian, you can also monitor and access the account. Multiple Savings Accounts: GreenState allows members to have up to 15 different savings accounts.

The option to have multiple accounts makes it easy to save for different financial goals, such as a home down payment or vacation.

Account Benefits and Requirements

APY: All savings accounts earn interest, with rates varying based on balance size and account type. Currently, rates for savings accounts range from 0.05% to 1.00% APY.

Minimum Opening Deposit: Hoppy’s Kids Club does not require a minimum opening deposit, while other savings accounts have a minimum opening deposit requirement of $5. Hoppy’s Kids Club Events: GreenState membership comes with access to Hoppy’s Kids Club events, which are exclusively for members.

These events run throughout the year and offer children fun-filled activities to learn about financial education and improve their skills. Additionally, members receive an Iowa Children’s Museum Pass, offering free access to the museum.

Multiple Savings Accounts: Members can name each savings account to suit their specific needs. For instance, one could name an account ‘vacation fund’ or ‘house down payment fund.’ This feature makes it simple for members to keep track of their different saving goals.

4) Money Market Accounts at GreenState Credit Union

A money market account (MMA) is a high-yield savings account that allows members to earn more interest than a standard savings account. GreenState Credit Union offers members different MMA options with competitive interest rates.

Types of Money Market Accounts

Green Money Market: This account offers competitive dividend rates for members with a balance of $2,500 or more. Mega Money Market: This account provides an even higher APY than the Green Money Market.

To qualify for this account, you must have a balance of $25,000 or more. IRA Money Market: This account type allows you to save for retirement while earning a higher APY than a traditional savings account.

It is an excellent option for those with long-term savings goals.

Account Benefits and Requirements

Minimum Deposit: The Green Money Market account requires $2,500 to open, while the Mega Money Market requires a minimum balance of $25,000. The IRA Money Market does not have a minimum deposit requirement.

Tiered Rates: GreenState Credit Union offers tiered interest rates, so the higher your balance, the more interest you earn. Rates are reviewed periodically and are subject to change based on the market conditions.

APY: The Mega Money Market account earns the highest APY, with rates currently up to 0.55%. The IRA Money Market follows, offering up to 0.40% APY.

Finally, the Green Money Market account earns a rate of 0.25% (as of October 2021).

Conclusion

GreenState Credit Union offers a wide variety of savings and MMA account options to meet every member’s needs. The credit union’s commitment to its customers is evident through its competitive interest rates, no minimum balance requirements for children’s accounts, and personalized account naming.

With flexible products that allow members to save for short-term goals like vacation or long-term goals like retirement planning, banking with GreenState Credit Union offers a range of solutions for financial wellness.

5) Certificates at GreenState Credit Union

Certificates are a type of deposit account that earns interest over a fixed period. GreenState Credit Union offers different types of certificates to help members earn more on their savings with locked-in rates.

Types of Certificates

Regular Certificate: This account requires a minimum opening deposit of $1,000 and offers a fixed interest rate over a specific term. IRA Certificate: This certificate is for retirement savings and has the same minimum deposit and term requirements as the regular certificate.

Young Investor Certificate: This certificate is for members age 25 or younger and has a lower opening balance requirement of $100. Certificate Specials: These certificates offer unique interest rates and terms that vary depending on market conditions and other factors.

Account Benefits and Requirements

Minimum Opening Deposit: The regular and IRA certificates require a minimum opening deposit of $1,000, while the Young Investor certificate has a lower opening balance requirement of $100. Certificate specials have varying deposit requirements.

APY: Certificate accounts offer interest rates that vary based on account type, deposit amount, and term length. GreenState Credit Union offers some of the most competitive rates in the market.

Tiered Rates: GreenState Credit Union’s certificates offer tiered interest rates, so the more you deposit, the higher your interest rate. This approach ensures that all members can benefit from higher interest rates and earn more on their savings.

6) How GreenState Credit Union Earned Its Scores

GreenState Credit Union has been ranked as one of the best credit unions in the country by various agencies, earning high scores for its rates, breadth of products, convenience, digital experience, and more. Rates: GreenState Credit Union’s competitive rates for savings accounts, checking accounts, and certificates are among the highest in the market.

They also offer tiered interest rates to ensure members earn more on their savings. Breadth of Products: GreenState Credit Union has an extensive product range, including checking and savings accounts, mortgages, auto loans, personal loans, credit cards, investment products, and insurance products.

This diversity makes it easier for members to access a range of financial solutions in one place. Convenience: GreenState Credit Union has 22 branches across Iowa and digital banking options such as online banking, mobile banking, and depositing checks from the app.

They also offer access to over 30,000 surcharge-free ATMs across the country. Digital Experience: GreenState Credit Union’s online banking and mobile banking platforms offer convenience and flexibility for members to manage their accounts with ease.

The app has excellent ratings on both the Apple Store and Google Play. Editor’s Favorite: One of the most popular products at GreenState Credit Union is the Rewards Checking account.

It offers excellent APY rates, cashback rewards, and ATM fee refunds, making it a favorite among the editors of various finance and banking publications. Whether it’s high interest rates on savings accounts and certificates, the convenience of digital services, or an excellent range of financial products, GreenState Credit Union’s approach to banking is designed with its members in mind.

The credit union’s commitment to providing personalized financial solutions and exceptional member service has earned it high rankings and recognition in the banking industry. 7) GreenState Credit Union vs.

Competitors

As a member-owned financial cooperative, GreenState Credit Union faces competition from other credit unions in the region. In this section, we will compare GreenState Credit Union with some of its competitors and highlight the key differences.

GreenState Credit Union vs. Veridian Credit Union

Auto Loans APR: The APR at GreenState Credit Union for auto loans ranges from 1.99% – 6.90%, whereas at Veridian Credit Union, it ranges from 2.49% – 5.99%.

GreenState Credit Union offers a lower APR for auto loans with terms of 36 months or more. GreenState Credit Union also offers a comprehensive range of products and services, including checking and savings accounts, credit cards, and loans.

On the other hand, Veridian Credit Union has a broader range of loan options than GreenState Credit Union, including commercial loans and equity loans. GreenState Credit Union vs.

Dupaco Community Credit Union

Live Video Tellers: Dupaco Community Credit Union offers a live video teller service that is available 24/7, allowing members to get help with their banking needs on their schedule. GreenState Credit Union does not offer this service.

ATMs: Dupaco Community Credit Union has a broader ATM network with over 39,000 free ATMs available to their members. GreenState Credit Union has access to over 30,000 free ATMs through the CO-OP ATM network.

GreenState Credit Union offers a comprehensive range of products and services, with competitive rates compared to Dupaco Community Credit Union. However, Dupaco Community Credit Union has the advantage of a larger ATM network and innovative banking solutions that GreenState Credit Union does not have.

8) Final Take

GreenState Credit Union offers a comprehensive range of financial products and services, with competitive rates that make it an attractive option for residents of Iowa and neighboring counties. Its commitment to providing personalized financial solutions and excellent member service has helped it earn high rankings in the banking industry.

When comparing GreenState Credit Union with other competitors, it’s important to consider the service area limitations and make sure it’s a good fit for your particular financial situation. Veridian Credit Union may be a better choice for those who need access to commercial loans and equity loans, while Dupaco Community Credit Union may be a better choice for those who prioritize a larger ATM network and innovative banking solutions.

Overall, GreenState Credit Union is a great option for people who want personalized financial solutions, competitive interest rates, and excellent customer service. With its commitment to providing financial wellness and community support, it is a credit union that is worth considering for all your banking needs.

In conclusion, GreenState Credit Union offers a comprehensive range of financial products and services, including checking and savings accounts, loans, and credit cards. GreenState Credit Union also offers competitive interest rates on its accounts, making it a great option for residents of Iowa and neighboring counties.

Comparing GreenState Credit Union to its competitors, it’s important to consider the service area limitations and make sure it’s a good fit for your particular financial situation. Whether you prioritize personalized financial services, competitive rates, or excellent customer service, GreenState Credit Union has all the solutions you need.

Therefore, we highly recommend considering GreenState Credit Union as your trusted financial partner.

Popular Posts