Community Investment Statement

Invest $1 billion in mortgage loans across our field of membership to expand access to homeownership for people of color throughout the Midwest.

Expand the service of our members with our Emergent Bilingual Strategy.

A $20 million Commitment in Community Investment, in conjunction with the GreenState Foundation

H.O.M.E Program

In 2021, GreenState Credit Union began a ten-year initiative to help close Iowa’s racial homeownership gap, the sixth largest in the nation¹. The progress in our first year inspired us to double the commitment and now we plan to achieve funding over $1 billion in mortgage loans to people of color across the state of Iowa. To make homeownership more attainable, GreenState offers a Special Purpose Credit Program known as H.O.M.E. to those who are eligible.

As a leader in home mortgages in the Midwest, and #1 in Iowa, GreenState is in a unique position to lead this effort and inspire other financial institutions to improve the well-being of their members and customers while at the same time promoting strong communities.

We firmly believe that helping more people become homeowners, and especially those for whom home ownership has been inaccessible, is good for everyone. Home ownership helps families build wealth and creates deeper ties to our neighbors and communities. As a leader in mortgage lending, GreenState can play a big role in solving this problem.

Vic Israni, GreenState CEO

$1 Billion Initiative Progress

How Does This Work?

In our effort to close the racial homeownership gap, we recognized that rather than simply changing our mortgage loan requirements, we had to instead develop an entirely new process to ensure the right approach is provided to each individual borrower thereby increasing the likelihood of long-term success. 

It is important to note that every borrower will go through the same application process.

Step 1

Apply via normal standard borrowing process. If a loan is not approved, the borrower will move to Step 2.

Step 2

We now will review applications via our updated Affordable Home Loan guidelines. As a part of this process, borrowers will be connected with local resources to guide and coach them on what it means to take out a mortgage and all the costs and responsibilities therein. If after reviewing an application at this state it still is not approved, the borrower will move to Step 3.

Step 3

In our effort to improve housing outcomes and increase the success of new homebuyers, our community education partners will take a leading role in developing the financial wellness of these prospective homeowners with GreenState by their side throughout the entire process.

These steps are all an effort to make it a little easier to quality for a mortgage while also improving the chances of success of new homebuyers. That it how GreenState became the leading lender in Iowa and how we are working to become the lender of choice for all homebuyers regardless of race, income, and background throughout the Midwest.


According to the report, “Race in the Heartland” 1, Iowa’s black population has a home ownership rate below 30 percent while whites in the state hover just below 80 percent home ownership.

This Community Investment Statement includes an additional $20 million in targeted community investments in the areas of financial health, affordable housing, and environmental sustainability.


Targeted Investments & Contributions Progress
*Investments made since January 2021

$651,157

Affordable Housing

Goal: $6,000,000

$4,939,989

Financial Health
Racial, Refugee & Immigrant Equity

Goal: $9,000,000

$1,013,990

Environmental Sustainability

Goal: $5,000,000

1 -

Colin Gordon, “Race in the Heartland: Equity, Opportunity, and Public Policy in the Midwest,” October 2019.
https://files.epi.org/uploads/Race-in-the-Midwest-FINAL-Interactive-1.pdf

2 -

Bankrate analysis of Home Mortgage Disclosure Act data, via LendingPatterns.
May 5, 2021 https://www.bankrate.com/mortgages/most-popular-mortgage-lenders-in-each-state/