Credit unions in Iowa

Credit union: In Iowa, there are 87 credit unions operating in the state. Those credit unions operate more than 300 branches between them. These cooperatives have more than 1.4 million members. The population of Iowa is only 3.1 million, which means almost half the state enjoys the benefits of banking with a credit union. The largest credit union in the state in terms of assets is GreenState Credit Union, with 5.7 billion in assets. The largest in terms of members is Veridian Credit Union, with over 238,000 members. 

Like most states, Iowa has credit unions that are available to those of specific professions like police or firefighters. Some companies have their own credit union as well, such as the Teamsters and Quaker Oats. However, there are several that are community-based cooperatives. Membership in these credit unions are open to anyone who lives/works/worships in that geographic area. 

Car insurance: Car insurance in the state of Iowa is well below the national average. Policyholders can expect to pay about $300 less per year versus the national average. Urban areas may see slight increases versus rural areas. Drivers in Iowa are required by law to have insurance and have it meet certain requirements. Drivers should have bodily injury coverage of $20,000 per person and uninsured/underinsured motorist coverage of $20,000/$40,000. 

Just because you already pay such a great rate for premiums doesn’t mean there isn’t room for improvement. Check with your credit union to see what partnerships and discounted rates they can offer you.  

There do not appear to be credit unions in Iowa that underwrite their own car insurance policies. However, they do offer some perks to the members. Several offer discounted car insurance plans through a company called TruStage. Others offer a discount through partnerships with local companies and agents.