We are very excited to announce that 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 are the branches of First American Bank being 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 $5.5 billion. The credit union operates 19 branches throughout Iowa and belongs to the Allpoint ATM network, which provides members access to 43,000 surcharge-free ATMs and 24/7 phone support. For branch locations and hours, vist our Branch and ATM Finder.

Who can join GreenState Credit Union?

1. Legal entities located in or natural persons residing or working in the following Iowa counties: Johnson, Cedar, Iowa, Louisa, Muscatine, Washington, Linn, Poweshiek, Keokuk, Mahaska, Jasper, Marshall, Tama, Benton, Black Hawk, Buchanan, Clinton, Delaware, Des Moines, Dubuque, Grundy, Hamilton, Hardin, Henry, Jackson, Jefferson, Jones, Lee, Lucas, Marion, Monroe, Polk, Scott, Story, WmTen, Wapello, Bremer, Butler, Clayton, Fayette, Franklin, Wright, Boone, Greene, Dallas, Guthrie, Madison, Adair, Adams, Allamakee, Appanoose, Audubon, Calhoun, Carroll, Cass, Cerro Gordo, Chickasaw, Clarke, Davis, Decatur, Emmet, Floyd, Hancock, Humboldt, Jasper, Kossuth, Mitchell, Palo Alto, Pocahontas, Ringgold, Taylor, Union, Van Buren, Wayne, Webster, Winnebago, Winneshiek, Worth, Buena Vista, Cherokee, Clay, Crawford, Dickinson, Fremont, Harrison, Ida, Lyon, Mills, Monona, Montgomery, O’Brien, Osceola, Page, Plymouth, Pottawattamie, Sac, Shelby, Sioux, and Woodbury counties; and in the following Illinois counties; Henry, Knox, Mercer, Rock Island, Jo Daviess, Carroll, Whiteside, Warren, Henderson, Hancock; and in the following Wisconsin counties; Grant, Crawford, and Lafeyette;
   
   
2. Customers of the First American Bank’s branches, located in Iowa, Purchased and Assumed in 2020.

ABOUT THE PEOPLE

Will there be changes to your staff?
First American employees will join 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 will remain unchanged as a result of the transaction. The Board of Directors of First American Bank will cease to exist because First American Bank will dissolve as of closing.

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.

When will I see signage begin to change at branch locations?
Branch signage will change on or before March 2020.

Are you planning to close any branch locations?
First American Bank’s branch locations will be 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?
In the months ahead, our systems integration will require a change to account number structures. We will work to minimize any changes made to accounts. We understand that this type of change may cause disruption, so our commitment is to make any transition as smooth as possible so that you experience no hiccups in accessing your accounts.

Will my consumer and commercial loans (home equity, auto, home equity lines of credit, etc.) remain the same?
Your existing loans will transfer 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 when converted to GreenState.

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

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 a helpful comparison guide at the end of this document for reviewing differences between NCUA and FDIC 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?
Immediately following our acquisition, you will have access to the same branch locations and ATM networks as you do currently. At time of conversion (later 2020) you will have access to all of GreenState’s branches and ATM’s.

Will I still be able to use my current checks?
Yes, you will continue to be able to use your current checks following our acquisition. At the time of our core systems integration, a complimentary box of new checks will be provided to you.

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?
Yes, you will continue to be able to use your current Debit Card following the purchase transaction. At the time of our core systems integration, we will provide you with a new card.

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

Will my online banking change?
You will access a different online banking system. You will be notified well in advance of any changes, new apps and whether these changes include any new requirements in accessing your information.

When your name changes, will my direct deposit still work?
Your direct deposit and automated regular withdrawals will continue to work without interruption. When we complete our core systems integration, and our routing numbers changes, we will work with you to confirm no interruption to your electronic direct deposit or automated regular withdrawals.

How will I get to the credit union’s website?
Leading up to the acquisition, continue to visit First American Bank online at www.1934.bank/. Communication will be provided prior to needing to use new sites. Following our acquisition our official website will become accessible from www.greenstate.org/.

Will employee emails change?
Following the acquisition, employees will be provided new email addresses that reference GreenState Credit Union.

Will employee phone numbers change?
We will notify you with anticipated changes in our contact information well in advance of any changes.

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. At the point when we complete our 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.   Any changes required related to future conversion activities will be communicated well in advance.

How will I receive additional information about this acquisition?
You can visit www.greenstate.org/firstamericanbank/ for updates about the progression of our acquisition and systems integration plans. You will also receive periodic mailings and have access to updates available at all of our branch locations. We also send periodic emails with all of our updates and important notices, so please take this opportunity to update your email address on file.

Who do I contact if I have additional questions?
We want to hear from you to help answer any additional questions you might have about our announcement and acquisition. Please call First American Bank at 515-573-2154 or GreenState Credit Union at 844-355-9891. You may also email us at becominggreenstate@greenstate.org

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