Greater Iowa Credit Union
About Us:
Greater Iowa Credit Union is a member-owned, not-for-profit financial cooperative serving some 28,000 members throughout a 31-county area in central and western Iowa. With financial assets of more than $200 million and a staff of approximately 100, Greater Iowa offers a full range of financial services at nine branch locations in Ames, Greater Des Moines, Marshalltown, Eldora and Denison.
The Iowa Credit Union Division oversees Greater Iowa on the state level, while the National Credit Union Administration provides federal oversight. All Greater Iowa deposits are insured up to $350,000, $100,000 by NCUA and an additional $250,000 insured by Excess Share Insurance Corporation.
Begun in 1932 by employees of Iowa State College, Greater Iowa has had a long relationship with the university, and until 2002 was named the ISU Community Credit Union.
The driving force of the credit union's philosophy is "Not for profit, not for charity, but for service-people helping people."
History:
Greater Iowa Credit Union was chartered in June 1932 in Ames as the Building and Grounds Credit Union, its first members employees of Iowa State College. Early business was conducted out of a desk drawer in the office of the superintendent of buildings and grounds in the Old Office Building on the campus of Iowa State.
By July 23 membership applications were received, and the credit union found a home wherever the treasurer or assistant treasurer worked. In the beginning, the actual location of the credit union was constantly on the move, finding a temporary home in a variety of Iowa State offices, including Old Office, the Veterinary Clinic, Physical Plant, College Laundry, Graphite Shop, Buildings and Grounds and others.
In 1947 the credit union changed its name to Iowa State College Employees Credit Union, and by the end of 1958 membership had grown to 2,208 members. By 1960 another name change was in the offing, this time Iowa State University Employees Credit Union. The field of membership was limited to "all Iowa State University employees and their immediate families except members of the faculty."
That charter was short lived, however. In 1961 the field of membership expanded to include all employees of Iowa State and any of the state or federal departments located on campus. Employees of the Memorial Union, the Iowa State University Press, credit union employees and members of the immediate families of all were included in the new charter.
ISU Credit Union was chosen as the new name in 1975, and in 1985 students were allowed to join, considered by many at the time to be a radical move.
The next field of membership change occurred in 1999 when the credit union expanded to include persons who live, work, go to school or worship in Story and contiguous counties. This move was coupled with another name change: The ISU Community Credit Union.
In the fall of 2002 after a series of mergers and rapid expansion, the credit union's board of directors voted to change the name to Greater Iowa Credit Union as a reflection of the credit union's enhanced geographic reach. Today, Greater Iowa has some 100 employees, 28,000 members, an asset size of more than $200 million, and ten locations throughout central and western Iowa.
Greater Iowa Credit Union
Our vision statement
The Greater Iowa Credit Union promises to provide a full range of world class, competitive financial services to its member-owners in an environment of respect and courtesy where safety and privacy are maintained.
Member-owners and business associates of the credit union will be treated with dignity and trust by personable and caring employees. Employees of the credit union will perform their service to member-owners in a work environment of mutual respect and genuine caring.
The Greater Iowa Credit Union will be
- fiscally responsible,
- ethical in all its actions,
- innovative in the implementation of technology,
- a positive force in the communities it serves, and
- committed to excellence with a passion to succeed in all it undertakes.
Social responsibility
Greater Iowa Credit Union will operate in a manner that will protect and improve society beyond the direct economic, financial and non-financial interests of the credit union.
Greater Iowa Credit Union decisions will be made in an environment of mutual concern for the credit union, its owners, its employees, its business partners, the community, the environment and society in general.
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