We are very excited to welcome you to GreenState Credit Union. We are confident you will find membership with GreenState Credit Union provides you, your family and your business with great value, service and convenience. Our combined team will offer you a greater variety of financial solutions, innovative access to your accounts, and competitive savings and loan rates – both for commercial and consumer relationships. Ultimately, we will be able to serve you in more ways, and in ways that also enhance our commitment to our local communities.

We understand that you may have some questions related to the acquisition, so we’re providing answers to some of these questions. Please review these helpful FAQs and let us know if you have other questions, we can help answer.

ABOUT THE ACQUISITION

Why were branches of First American Bank acquired by GreenState Credit Union?
In 2017 First American Bank began assessing its strategic options. GreenState Credit Union was contacted in this process and it was determined to be a good fit for both First American and GreenState. As the state’s largest credit union, we exist to create lasting value for those we serve and have been taking great care of member-owners since we were formed back in 1938. Our goal is to return our profits back to those member-owners in the form of better rates on deposits and loans, so we’re always looking for ways to strengthen and provide choice in the marketplace. Adding the assets of First American Bank’s branches fits well with this approach and provides a net benefit to both new and existing members.

How large is GreenState Credit Union and where are they located?
GreenState Credit Union is headquartered 2355 Landon Road, North Liberty, IA 52317. The credit union serves over 200,000 members with assets in excess of $6 billion. With the addition of legacy First American Bank branches, the credit union operates 26 branches throughout Iowa and belongs to the CO-OP ATM network, which provides members access to 30,000 surcharge-free ATMs and 24/7 phone support. For a listing of all branch locations and hours, visit our Branch and ATM Finder.

Who can join GreenState Credit Union?

Membership is open to:

• Anyone living or working in Iowa, 10 Illinois counties or 3 Wisconsin counties.
  • Illinois counties: Jo Daviess, Carroll, Whiteside, Rock Island, Henry, Mercer, Knox, Henderson, Warren, Hancock
  • Wisconsin counties: Crawford, Grant, Lafayette
• University of Iowa students, staff, or alumni.
• Direct relatives of current GreenState members.

ABOUT THE PEOPLE

Were there any changes to staff?
First American employees have joined GreenState employees, sharing a commitment to deliver financial services and expertise to families and small businesses throughout the communities we serve. All First American locations will remain open to serve members.

Who will be the President/CEO?
Jeff Disterhoft is the current President/CEO of GreenState and will continue in that role.

Will there be changes to the Board of Directors?
The current Board of Directors of GreenState remains unchanged as a result of the transaction. The Board of Directors of First American Bank was dissolved as of closing. /p>

ABOUT THE FUTURE

Where will the headquarters be located?
The headquarters of GreenState will be at 2355 Landon Road, North Liberty, IA 52317 (its current headquarters). GreenState is proud to maintain a strong local and community focus throughout Iowa.

Are you planning to close any branch locations?
First American Bank’s branch locations have been maintained and incorporated with GreenState’s, resulting in a network of 26 service locations throughout Iowa markets. We continually monitor the performance of each branch location to the needs of our membership.

ABOUT MY ACCOUNTS

What’s the benefit to me related to this acquisition?
Through this transition you’ll continue to have access to the existing products and services offered to you today as well as gain access to an expanded suite of consumer financial services, including loans, insurance, credit cards, investment services and more. As a member-owned, not-for-profit financial cooperative where profits cycle back to the members, GreenState is able to offer competitive rates and lower fees and return excess capital to members when the credit union performs well.

Will my account number change?
A mailing with information regarding your new account number and account types was sent to your home on or about May 8th. Please refer to that communication for information about your new account number or contact us with questions.

Will my consumer and commercial loans (home equity, auto, home equity lines of credit, etc.) remain the same?
Your existing loans have transferred to GreenState and will retain the same terms and payment calculations.

Will my mortgage remain the same?
Any mortgage loan held by a customer of First American Bank and currently being serviced by First American will move to GreenState and retain the same contractual terms. Mortgage statements are processed and delivered by mail or electronically mid-month each month.

When and how will I receive my account statement from GreenState?
At month end, GreenState will generate and deliver your account statement using your chosen delivery method (paper or online). If your account has not had any activity in the current month you will default to a quarterly statement (January, April, July, October) until you have activity which will then be produced monthly.

Will my certificate rates change?
All certificate products will retain their rate structure and term.

Will my safety deposit box change?
All safety deposit boxes will remain and retain their rate structure.

Will I need to update my ACH (Automated Clearing House) transactions (social security, payroll, etc.)?
ACH transactions (credits and debits) will continue to post without interruption and without any need to update on your part. However, if you prefer, you can contact any business whom you execute ACH payments or deposits to provide GreenState’s routing number (273975098) along with your new account number.

How will this affect my rates and service charges/fees?
As part of our systems integration, we will review all services provided to members, including service charges, to make sure we provide consistent, low-cost access to the most innovative financial services. To review GreenStates current service pricing information please visit: https://www.greenstate.org/disclosures/.

Will my deposits continue to be federally insured?
GreenState is insured by the NCUA (National Credit Union Administration) through the NCUSIF (National Credit Union Share Insurance Fund). Your deposits will continue to be federally insured to the maximum amount available, currently, to at least $250,000 per depositor, and backed by the full faith and credit of the United States Government. Please see this helpful guide for reviewing an overview of NCUA Insurance.

What happens if I already have both a GreenState Credit Union account and a First American Bank account?
Following the proposed transaction, you will continue to have both accounts available for you at GreenState. In the event you have more than $250,000 at GreenState as a result of the transaction, the excess may no longer be federally insured. GreenState will contact any First American Bank customers who will have greater than $250,000 on deposit as a result of the transaction to discuss options.

Will I be able to access my account at new branches?
After the system integration over the weekend of May 9 - 10, you will have access all 26 branch locations and ATM’s.

Will I still be able to use my current checks?
A complimentary box of new checks was mailed to all consumer accounts. Business accounts are eligible for a reimbursement of 75% of the cost of new checks (up to $100). Stop by any branch with a copy of your receipt before 7/31/20 to be reimbursed.

Will I still be able to use my credit card?
Yes, you will continue to be able to use your current credit card following our acquisition. You will be able to apply for a GreenState credit card if you choose, and we will provide you with information about the available options.

Will I still be able to use my debit card?
Your First American Bank card will be shut down on May 11th. A new debit card was mailed to you in early May. Please activate your GreenState debit card by calling 888-691-8661. To set up your 4-digit PIN, call 800-717-4923 or 515-248-5860 and follow the prompts (your former PIN will not carry to this new card).

What is GreenState’s routing and transit number?
GreenState’s routing and transit number is 273975098.

How can I access online banking?
After May 11th, login to GreenState’s Online Banking system using the following credentials:

Initial Login ID = Previous Online Banking Login ID
Password = Previous Online Banking Password A 6-digit secure access code will be sent via phone or text message to complete the process. Once re-enrolled, re-establish e-Alert notifications and learn about many exciting new features! Mobile Banking Users – please delete your old First American Bank App and download GreenState Credit Union’s mobile app in the Apple App or Google Play Store).

Will my direct deposit still work?
Direct deposit to your account will continue without interruption. Though your account number is changing, we will continue to honor direct deposit established with your former American Bank account and routing information. When setting up any new Direct Deposits following May 11, use your new GreenState account number MICR and Routing Number (273975098).

Will employee emails change?
Yes, employees were provided new email addresses that reference GreenState Credit Union.

Will there be changes to your hours?
We continually review our hours of operations in all the regions where we operate in order to best serve our growing membership. Currently there are no plans to change the hours of operation.

Will there be any changes to my account notices and statements?
Your monthly and quarterly statements and notices will have a new look with GreenState Credit Union. After the core systems integration, your statements will have an updated look.

Will there be any changes to my Private Wealth Management account?
Your Wealth Management accounts will remain unchanged, and you will access the same systems and employees as you always have.  Trust accounts will operate under the GreenState Trust Services name in partnership with Members Trust Company, FSB.   You will continue to have the local, personal service you are used to from your relationship team while at the same time having access to additional expertise.  Members Trust Company has been providing trust, investment, and fiduciary services for over 30 years and currently manages in excess of $3 billion in assets.

How can I connect and learn more about GreenState?
To learn more about GreenState, stop by any branch, or visit greenstate.org or call the Call Center at 800-397-3790.