Banking » Reviews » Green State Federal Credit Union Review
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Green State Federal Credit Union Review

While Green State offers rewards for checking accounts and various credit cards, savings, and certificate rates are pretty low.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: April 15, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: April 15, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Green State Credit Union

green state credit union
green state credit union

Green State Credit Union

Fees

$0

Minimum Deposit

$0

Our Rating

3.8
3.8/5

APY Savings

0.05% – 1.00%

Table Of Content

Banking Services
Credit Options
Savings Accounts
Mortgage
Checking Accounts
Government Mortgage
CDs
Credit Cards
Money Market Account
Debit Card
Investing Capabilities
Personal Loans

Pros and Cons

Like any financial institution, Green State has its advantages and potential drawbacks that you should consider before making any account decisions.

Pros
Cons
Rewards Checking Accounts
Low Savings Rates
Various Lending Options
Most Certificate Terms Aren't Competitive
High CD Rates On Special Certificates
Membership eligibility
Credit And Debit Cards

Green State offers rewards checking accounts that provide benefits like cashback and ATM fee refunds when you meet certain requirements, making it attractive for those who actively use their accounts.

Green State Credit Union provides a variety of lending options, including auto loans and personal loans, giving members access to funds for various needs and financial goals.

Green State offers high CD rates on special certificates, allowing members to potentially earn more on their investments over time.

Green State provides credit and debit card options that may offer various benefits, including rewards programs and convenience for everyday transactions.

The savings rates offered by Green State are generally low, which may not be competitive compared to other financial institutions.

Some certificate terms at Green State may not offer competitive rates, potentially limiting the attractiveness of their certificate products for certain investors.

Membership eligibility criteria may limit access to Green State's financial products and services, potentially excluding some individuals from these offerings.

Green State Savings

GreenState Credit Union offers two savings account options, including the Hoppy's Kids Club for children under 10, and the ability to open multiple accounts for different savings goals.

The Rainy Day Savings account simplifies emergency fund building with two options: 2% of deposits from a GreenState Checking account can be automatically transferred, or debit card transactions are rounded up to the nearest dollar and transferred.

Rainy Day Savings offers a 1.00% APY on balances up to $2,500, overdraft protection with no transfer fees, no monthly fees, transaction or deposit requirements, no withdrawal fees or limits, and a low $5 minimum balance.

Green State Savings
Savings APY
0.05% – 1.00%
Savings Fees
$0
Minimum Deposit
$5

Green State Certificates

GreenState offers Certificates with competitive yields, requiring a minimum $500 – $1,000 deposit for terms ranging from 3 months – 5 years. Jumbo rates are available for deposits over $100,000. Additionally, there's a Young Investor Certificate for those under 18 with lower initial investment requirements.

CD Term
APY
3-6 Months
0.20%
7-12 Months
0.30%
13-24 Months
0.40%
25-36 Months
0.50%
37-48 Months
0.60%
49-60 Months
0.75%
15 Months (Special)
5.60%
49 Months (Special)
0.75%

Nonetheless, the rates are generally not very favorable for most of the terms, with competitive rates available only for two specific terms. These limited options can pose challenges for individuals looking to implement strategies like CD laddering or those seeking short-term CD commitments.

Checking Accounts

Green State has three checking account options:

GreenState's Free Checking account offers simplicity and convenience. There are no monthly service fees or minimum balance requirements. You'll receive a free debit card and access to a vast network of surcharge-free ATMs.

While it lacks interest earnings, it provides essential financial tools and services, including online and mobile banking. The account encourages eco-friendliness by offering free e-statements and discourages paper waste with a $3.50/month paper statement fee for those who choose paper statements.

GreenState's Rewards Checking is a free account that rewards users with a premium yield and ATM fee refunds when they meet basic activity requirements. It offers 1.50% APY on balances up to $14,999.99.

To qualify for these rewards, you must make at least 15 debit card purchases averaging at least $10 each and have direct deposit or an ACH transaction of $100 or more each month. Additionally, it provides access to a large network of surcharge-free ATMs and refunds non-GreenState ATM fees.

RewardsPlus Checking combines a free checking account with a rewards credit card to offer cashback and dividends.

It allows members to earn 1%-5% cashback on transactions made with a rewards credit card. Credit card activity qualifies for a premium yield on the checking account balance, with 2.00% APY on balances up to $19,999.99.

To qualify, you must use your GreenState credit card 15 times per month and set up direct deposit or have an ACH transaction of $100 or more each month.

Credit Cards

Green State also provides access to a number of credit cards. These include:

  • Platinum Rewards Mastercard: The GreenState Platinum Rewards Mastercard rewards you with bonus points for every purchase, which can be redeemed for cash, plane tickets, merchandise, and more. The card offers low, non-variable rates and a special promotion: earn 5,000 bonus points by making $500 in purchases within 2 months of getting the card. Earn 3x points on gas, 2x points on groceries, and 1x point on all other purchases.

  • World Mastercard: The GreenState World Mastercard is an elite offering with rewards for purchases and exceptional travel benefits. Receive 10,000 bonus points by making $1,000 in purchases within 2 months of receiving the card. These points can be redeemed for $100 or saved for bigger rewards. The World Card provides flexibility to explore your passions.

  • Platinum Mastercard: The Platinum Mastercard from GreenState is ideal for those who carry a balance, offering a lower, non-variable interest rate. This card prioritizes financial peace of mind and doesn't include rewards points.

GreenState_Platinum Rewards Mastercard
GreenState_World Mastercard
GreenState_Platinum Mastercard

Green State Lending Options

Green State also offers various lending options. These include:

GreenState offers low-cost auto loans for new and used cars, with flexible terms to suit your needs and budget. You can apply online in minutes and have the option to delay your first payment for up to 90 days. No down payment is required, and 100% financing is available.

Consider their Cash Back Auto Loan, where you can receive $100 cash back when refinancing your auto loan from another institution. Eligible borrowers can also skip a payment in certain cases, providing budget flexibility.

As Iowa's leading home loan lender, GreenState provides low fixed rates, minimal fees, up to 100% financing, and local processing and underwriting.

GreenState's Home Equity Loan provides fixed terms of 5, 10, or 15 years with great rates and low fixed payments. Borrow up to 80% of your equity with no prepayment penalties, offering flexibility for various purposes. You can apply online for this loan.

The Home Equity Line of Credit comes with a fixed term of 5 years, allowing you to advance funds as needed. It offers flexibility for various loan purposes, with no prepayment penalties.

GreenState Credit Union offers fast and easy personal loan applications with competitive rates. They work with you to find a term that aligns with your budget.

These loans feature reasonable rates, no early payoff fees, flexible terms, and optional PayBreak Debt Protection. Rates can be as low as 12.99% APR, and there's no origination fee.

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Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
Up to 2% cash back Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases 
Promotion:
$300 Use Promo Code “AXOS300” for a $300 bonus when you apply for a Rewards Checking account
Up to 3.30% APY
to get the maximum rate (up to $50,000) you'll need monthly direct deposits of $1,500 (0.40% APY), 10 transaction on your debit card (+0.30% APY), average daily balance of $2,500 on Axos Invest Managed Portfolio (+1.00% APY), average daily balance of $2,500 on Axos Invest Self Directed Trading Account(+1.00% APY) and make full monthly payment on loans (mortgage, personal and auto) with Axos account (+0.60% APY).

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Promotion:
Up to $4,000 New customers may earn up to $4,000 when they open an eligible HSBC Premier checking account from January 8, 2024 through March 27, 2024 and complete qualifying activities:

• Receive a cash bonus of $1,500 when you deposit or invest $100,000 – $199,999.99

• Receive a cash bonus of $2,000 when you deposit or invest $200,000 – $299,999.99

• Receive a cash bonus of $2,500 when you deposit or invest $300,000 – 499,999.99

• Receive a cash bonus of $3,500 when you deposit or invest $500,000+

• Earn an extra $500 when you set up recurring monthly Direct Deposits totaling at least $5,000 for 3 months
Wealth Products & Advice
Get access to wealth products, insights and advice from an HSBC Financial Professional through HSBC Securities (USA) Inc
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

Chase_logo

Promotion:
$300 New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.. Expired on 7/24/2024
Chase Overdraft Assist
With Chase Overdraft AssistSM, you won’t be charged an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day

UpgradeLogo

Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
Up to 2% cash back Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases 
Promotion:
$300 Use Promo Code “AXOS300” for a $300 bonus when you apply for a Rewards Checking account
Up to 3.30% APY
to get the maximum rate (up to $50,000) you'll need monthly direct deposits of $1,500 (0.40% APY), 10 transaction on your debit card (+0.30% APY), average daily balance of $2,500 on Axos Invest Managed Portfolio (+1.00% APY), average daily balance of $2,500 on Axos Invest Self Directed Trading Account(+1.00% APY) and make full monthly payment on loans (mortgage, personal and auto) with Axos account (+0.60% APY).

PNC bank logo

Promotion:
Up to $400 Open a new, select Virtual Wallet product and receive $500/$2,000/$5,000 or more in qualifying monthly direct deposits within 60 days to earn a $100/$200/$400 bonus.
Subject to state availability
PNC Virtual Wallet ® is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV. Virtual Wallet ® is offered in the state of MO with the exception of the Greater Kansas City area. Product availability may vary based on where you open your account and the Zip code of your primary address.

Promotion:
Up to $4,000 New customers may earn up to $4,000 when they open an eligible HSBC Premier checking account from January 8, 2024 through March 27, 2024 and complete qualifying activities:

• Receive a cash bonus of $1,500 when you deposit or invest $100,000 – $199,999.99

• Receive a cash bonus of $2,000 when you deposit or invest $200,000 – $299,999.99

• Receive a cash bonus of $2,500 when you deposit or invest $300,000 – 499,999.99

• Receive a cash bonus of $3,500 when you deposit or invest $500,000+

• Earn an extra $500 when you set up recurring monthly Direct Deposits totaling at least $5,000 for 3 months
Wealth Products & Advice
Get access to wealth products, insights and advice from an HSBC Financial Professional through HSBC Securities (USA) Inc
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

How to Join Green State Credit Union

GreenState Credit Union has a relatively inclusive membership policy. Those eligible to join include:

  1. Residents and Workers in Iowa and Nearby Counties: Individuals residing or working in Iowa or in specific neighboring counties in Illinois, Wisconsin, Nebraska, or South Dakota can become GreenState members.

  2. University of Iowa Affiliation: University of Iowa students, staff, and alumni are eligible for GreenState membership, providing a convenient financial option for those associated with the university.

  3. Family Members: Direct relatives of current GreenState Credit Union members are also eligible to join. This means that if you have a family member who is already a member, you can also become a member.

  4. Members of the Iowa Consumer Council/American Consumer Council: Individuals who are members of the Iowa Consumer Council or the American Consumer Council are eligible for GreenState membership, potentially expanding the credit union's reach to consumer advocacy groups.

These eligibility criteria aim to make GreenState membership accessible to a broad range of individuals and communities.

How We Rate And Review Credit Unions: Our Methodology

The Smart Investor team extensively reviewed hundreds of banks and credit unions. We assessed them based on four main categories, each with specific features:

  • Diversity of Products and Their Attractiveness (40%): We extensively analyzed the breadth and appeal of each bank's product offerings, including savings accounts, checking accounts, loans, investment options, and more. Higher ratings were assigned to banks with a diverse range of products that are attractive in terms of interest rates, fees, terms, and additional features. This category provides insights into the variety and value of the bank's offerings, crucial for meeting customers' diverse financial needs.

  • Account Features (30%): This category delves into the features and benefits accompanying each bank's accounts. We scrutinized factors such as promotions, deposit and withdrawal options, ATM accessibility, online and mobile banking functionalities, as well as additional perks like overdraft protection and rewards programs. Banks offering comprehensive and convenient features received higher ratings, reflecting the overall value of their accounts to customers.

  • Customer Experience (20%): A positive customer experience is paramount in banking, so we evaluated each bank's performance in this area. This included assessing the ease of account opening, quality of customer service, availability of support channels, and overall user satisfaction. Ratings were based on factors such as responsiveness, efficiency, and the bank's commitment to meeting customer needs, ensuring a seamless and satisfactory banking experience.

  • Bank Reputation (10%): The reputation of a bank is a critical consideration for customers. We examined factors such as financial stability, regulatory compliance, and public perception to determine each institution's overall trustworthiness and reliability. Higher ratings were awarded to banks with strong reputations, reflecting their credibility and ability to inspire confidence among customers.

  •  

By considering these categories, individuals can make informed decisions that align with their financial needs and preferences, ensuring they choose a bank that offers competitive products, excellent features, a positive customer experience, and a solid reputation.

Picture of Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
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Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

Chase_logo

Promotion:
$300 New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.. Expired on 7/24/2024
Chase Overdraft Assist
With Chase Overdraft AssistSM, you won’t be charged an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day

UpgradeLogo

Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
Up to 2% cash back Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases 

Promotion:
$300 Use Promo Code “AXOS300” for a $300 bonus when you apply for a Rewards Checking account
Up to 3.30% APY
to get the maximum rate (up to $50,000) you’ll need monthly direct deposits of $1,500 (0.40% APY), 10 transaction on your debit card (+0.30% APY), average daily balance of $2,500 on Axos Invest Managed Portfolio (+1.00% APY), average daily balance of $2,500 on Axos Invest Self Directed Trading Account(+1.00% APY) and make full monthly payment on loans (mortgage, personal and auto) with Axos account (+0.60% APY).

PNC bank logo

Promotion:
Up to $400 Open a new, select Virtual Wallet product and receive $500/$2,000/$5,000 or more in qualifying monthly direct deposits within 60 days to earn a $100/$200/$400 bonus.
Subject to state availability
PNC Virtual Wallet ® is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV. Virtual Wallet ® is offered in the state of MO with the exception of the Greater Kansas City area. Product availability may vary based on where you open your account and the Zip code of your primary address.

penfed personal loan

APY on Daily Balances
0.15% APY on daily balances of less than $20,000 or 0.35% APY on daily balances of $20,000 up to $50,000
Get paid up to 2 days early
Set up direct deposits and get your paycheck up to 2 days early

Promotion:
Up to $4,000 New customers may earn up to $4,000 when they open an eligible HSBC Premier checking account from January 8, 2024 through March 27, 2024 and complete qualifying activities:

• Receive a cash bonus of $1,500 when you deposit or invest $100,000 – $199,999.99

• Receive a cash bonus of $2,000 when you deposit or invest $200,000 – $299,999.99

• Receive a cash bonus of $2,500 when you deposit or invest $300,000 – 499,999.99

• Receive a cash bonus of $3,500 when you deposit or invest $500,000+

• Earn an extra $500 when you set up recurring monthly Direct Deposits totaling at least $5,000 for 3 months
Wealth Products & Advice
Get access to wealth products, insights and advice from an HSBC Financial Professional through HSBC Securities (USA) Inc
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

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