UICCU stands for the University of Iowa Community Credit Union. In 2018 the state of Iowa changed the law to make it so that public university names could not be included in the names of credit unions and so they changed the credit union name to GreenState Credit Union. 

UICCU and GreenState Credit Union are the same financial institution.

It is offering credible and highly authentic CD interest for the investors that attracts them to its functional efficiency, here is the detailed explanation for UICCU CD Rates given next.

UICCU CD Rates Offers

The most precise and favorable UICCU CD Rates are;

90-Day Certificate of Deposit

  • Minimum Deposit: $1000
  • APY: 0.15%
  • Dividend Rate: 0.15%
  • Early Withdrawal Penalty: 90-day dividend

Considerations:

  • This CD is suitable for individuals looking for a short-term investment.
  • Requires a minimum deposit of $1000.

Pros & Cons

ProsCons
Short-term commitmentLow APY and dividend rate

6-Month Certificate of Deposit

  • Minimum Deposit: $1000
  • APY: 1.35%
  • Dividend Rate: 1.34%
  • Early Withdrawal Penalty: 90-day dividend

Considerations:

  • Provides a slightly longer term than the 90-day CD.
  • The minimum deposit remains at $1000.

Pros & Cons

ProsCons
Slightly higher APYModerate minimum deposit of $1000

1-Year Certificate of Deposit

  • Minimum Deposit: $500
  • APY: 1.25%
  • Dividend Rate: 1.24%
  • Early Withdrawal Penalty: 180-day dividend

Considerations:

  • Early withdrawal incurs a 180-day dividend penalty, indicating a more substantial commitment.

Pros & Cons

ProsCons
Lower minimum depositModerate APY and dividend rate
Competitive APYEarly withdrawal penalty of 180 days

2-Year and 2-Year Jumbo Certificate of Deposit

·         Minimum Deposit (2-Year): $500

  • Minimum Deposit (2-Year Jumbo): $100,000
  • APY (2-Year): 1.15%
  • APY (2-Year Jumbo): 4.50%
  • Dividend Rate (2-Year): 1.14%
  • Dividend Rate (2-Year Jumbo): 4.43%

Considerations:

  • Both have a 180-day dividend penalty for early withdrawal, emphasizing the importance of commitment.

Pros & Cons

ProsCons
Standard and Jumbo optionsThe high minimum deposit for the Jumbo option
Higher APY for JumboEarly withdrawal penalty of 180 days

Are UICCU CD Rates Competitive?

The competitiveness of UICCU CD rates is notably diverse, catering to a range of investors with different time horizons and deposit sizes.

The 90-day and 6-month CDs offer shorter-term options, with competitive features such as quick access to funds and slightly higher APYs. However, the minimum deposit of $1000 might be a consideration for some.

The 1-year CD, with a lower minimum deposit of $500, strikes a balance between term length and accessibility, though its APY and dividend rates are moderate.

The 2-year and 2-year Jumbo CDs provide flexibility, especially with the standard 2-year CD offering a competitive APY. The 2-year Jumbo, with a high APY of 4.50%, is attractive for those with substantial deposits. The 3-year CD, while offering a longer-term commitment, maintains a reasonable minimum deposit.

ICCU’s CD rates demonstrate competitiveness in the market by providing a variety of terms and accommodating different investor preferences and financial capacities.

Overview UICCU

The credit union was started in 1938 to serve the Iowa Hospital employees. It expanded in 1966 to include serving the students and alumni of the University of Iowa as well as hospital employees. In 1988 they changed the name to include “community” as they expanded their services to all residents of the local communities and were not limited to University students or hospital staff.

Open an account with UICCU to be eligible for a CD purchase. You can open an account online in minutes, or visit one of their branches in person. Rates and eligibility for CDs are only available to bank members who live in the member service areas in Iowa.

GreenState Credit Union has stayed true to its roots of serving the Iowa community. 

They have a foundation called GreenState Giveback which provides financial support for community challenges. In 2020 GreenState Credit Union gave over $1.2 million in assistance to credit union members and their communities who were affected by the COVID-19 pandemic and the derecho storm. 

This included issuing personal emergency loans, business loans, and fee forgiveness for those affected. They also donated over $250,000 in direct financial contributions to local charities.

Availability

Open an account with UICCU to be eligible for a CD purchase. You can open an account online in minutes, or visit one of their branches in person. Rates and eligibility for CDs are only available to bank members who live in the member service areas in Iowa.

Locations UICCU 

Branches in Iowa

The branches in Iowa are:

Iowa City, Cedar Rapids, Des Moines, Quad Cities, Cedar Valley, Fort Dodge, Dubuque, Grinnell

Frequently Asked Questions

What is the minimum deposit for UICCU?

The minimum deposit for UICCU varies based on the term. For example, the 90-day and 6-month terms require a minimum deposit of $1000, while the 1-year and 3-year terms have a lower minimum deposit of $500.

What are the penalties for early withdrawal?

Early withdrawal penalties for UICCU CDs are structured in terms of dividends. For the 90-day and 6-month CDs, the penalty is a 90-day dividend, and for the 1-year, 2-year, and 3-year CDs, the penalty is a 180-day dividend.

How competitive are UICCU CD rates?

UICCU CD rates demonstrate competitiveness in the market. The rates vary across terms, providing flexibility for investors with different time horizons. The 2-year Jumbo CD, in particular, stands out with a high APY of 4.50%.

Is there a Jumbo option for all CD terms?

No, the Jumbo option is specifically available for the 2-year CD term. The minimum deposit for the standard 2-year CD is $500, whereas the Jumbo option requires a higher minimum deposit of $100,000.

Are UICCU CDs a suitable choice for short-term investments?

Yes, UICCU offers short-term CD options, such as the 90-day and 6-month terms, making it suitable for individuals looking for quick access to funds and a brief investment horizon.