GreenState Credit Union Surveillance Report

Company Profile

Originally chartered in 1938, GreenState Credit Union (“GreenState” or “GCU” or “the credit union”) is a member owned state-chartered credit union headquartered in North Liberty, Iowa and is the 20th largest credit union with $10.7 billion in total assets. GCU serves nearly 400,000 members with 33 locations in Iowa and Illinois, though it also serves members in South Dakota, Wisconsin, Nebraska, and the surrounding regions. GreenState purchased two banks in Illinois in 2021 and 2022 and one in Iowa in 2020, totaling $1.5 billion in total assets.
GreenState is Low Income Designated (LID), signifying that the majority of its members’ household incomes are 80% or less of the median income of the United States. LID benefits include a higher allowance and exposure to commercial relationships and allows for greater access to nonmember depositors.
GCU’s granular loan portfolio reflects the significant consumer base it serves. Loan concentrations…

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