R2 Checking

Monthly Service Fee

No Asterisk, No Fine Print

Surcharge Free ATMs

GreenState & Allpoint ATMs Nationally. 300 Free ATMs in Iowa

Available Cash Back

On Platinum Rewards
or World Mastercard Purchases

Dividend Reward

On balances up to $20,000
Must meet minimum activity requirements

What is R2 Checking?

R2 Checking is meant for members who want to earn 1% cashback on transactions by using a rewards credit card, instead of a debit card, for everyday purchases. Your credit card transactions will count towards qualifying for the dividend reward. Don't want to use a credit card? Rewards Checking might be a better account for you.

Will I still get a debit card?

Yes. You will get a debit card for your R2 checking account that works like a standard debit card and can be used at ATMs. To earn the dividend reward, however, you'll also need a GreenState credit card. You can link an existing GreenState credit card to an R2 account or we can help you open a new credit card to use with an R2 account.

How do I qualify for the R2 reward?

R2 Checking accounts can earn 2.25% APY on balances up to $20,000. To qualify for the reward you'll need to meet the following requirements:

  1. Use your GreenState credit card at least 15 times each month and average at least $10 per transaction.
  2. Set up direct deposit or have at least one ACH transaction for $100 or more each month.

What if I don't qualify in a given month?

That's ok! There's no monthly service fee even if you don't qualify for the dividend reward. You'll still earn 1% cashback on purchases made with your rewards credit card and you'll still have access to the free tools and services that come with every GreenState checking account.

Who can join?

Membership is open to:

  • Anyone who lives or works in the state of Iowa and 10 counties in Illinois: Jo Daviess, Carroll, Whiteside, Rock Island, Henry, Mercer, Knox, Henderson, Warren, Hancock
  • University of Iowa students, staff, or alumni.
  • Direct relatives of current GreenState members.

How to join.

You can become a member by opening a share savings account with a $5 deposit. Members can open a new checking account with an initial deposit of $50. To get started you can apply online, stop by any branch location, or give us a call a (800) 397-3970.

Free Account Tools & Features

Every GreenState Checking Account comes loaded with free tools and features to help you manage your finances with ease.

24/7 Access to Online Banking

Check balances, transfer funds, customize fraud alerts and more! Online Banking puts all your GreenState accounts and loans at your fingertips.

Mobile app w/Remote Check Deposit

Online banking in your pocket! You can choose to sign in with your fingerprint (when available), deposit checks with your phone's camera, and stay on top of your finances on-the-go.

contactless payments icon

Mobile Payments Enabled

GreenState credit and debit cards can be used with your mobile wallet. You can load your card(s) onto your phone and make purchases at participating merchants wherever you see the contactless payment icon. Supported wallets include: Apple Pay, Android Pay, and Samsung Pay.

Free Mastercard Debit Card Loaded with Benefits

GreenState Mastercard Debit Cards include extended warranty benefits, identity theft resolution assistance, price protection and more.  

Online Bill Payer

Schedule instant transfers to pay bills. You can even have a check put in the mail when direct payment options aren't available.

MyFi360 Financial Management Software

Take charge of your finances and budgeting. Connect MyFi360 to your accounts at any institution, set budgets, track cash flow and hit your goals.

Custom Text Alerts

Need to know when you're running low on funds? We can alert you. Want to know when there's any transaction over $100? We can alert you. Want to know when your card is used in a "card not present" transaction? We can alert you then too.

Overdraft Privilege Available

Mistakes happen. We'll let you choose how we should handle them.


This is where I’m at home. GreenState Credit Union has been a part of our family for over 40 years. My husband was fresh home from Vietnam, we moved up here for him to go to school. The credit union was always in the background helping us achieve our goals. From buying that first car to that first mortgage. I don’t know where we would have been had they not been willing to help us, all along the way.

Colleen M.

My husband and I are owner operators, meaning we own a semi and we haul products from point A to point B. If my husband does not run, we don’t get paid. When he was in an accident, the credit union had our back and we went to them and they did not hesitate to get us back on the road. They saw the situation and made us feel important, that we mattered. GreenState is family, I would never go anywhere else.

Susan C.

I’m a neuroscientist studying to get my PhD at the University of Iowa. I discovered GreenState Credit Union when I was looking for a house. The experience at first was scary because I had no clue what I was doing but GreenState really walked me through the process. I feel like I was cinderella and GreenState was my fairy godmother who led me to my prince charming, which happens to be my house. Without GreenState Credit Union, I would be giving up my money and now I get to save my money and put it into my dreams.

Deja N.

GreenState really means family, so they know you personally and they utilized that information to help you make good decision financially. I started a business that allows me to do what I’m passionate about everyday: work with kids and work with basketball. With the career change the first step we did is went to go to meet with the credit union. They’ve helped us through every change that our life has brought us. I feel like we’re ‘Darryl and Shawna’ and not a number, I feel like I’m a person at the credit union."

Darryl M. & Shawna M.

R2 Checking Frequently Asked Questions


Personal accounts only.


Credit card must be listed under the same account as the R2 Checking to qualify.


Limit one account per individual. Individuals may choose either a Rewards Checking or R2 Checking, but are not permitted to have both account types.


Primary account holder must be at least 18 years of age.


$50 initial deposit required.


New checking account is subject to credit approval, employment status, and valid identification that is at least 90 days old.


GreenState Credit Union does not charge for the Mobile App, however your cell phone carrier may charge for text and data usage.

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APY is Annual Percentage Yield as of 10-19-2019. Rate is subject to change after the account is opened. 2.25% APY paid on balances up to $20,000. Requirements to earn premium yield 1) Fifteen or more GreenState Credit Union credit card purchases averaging at least $10 must post to the card between the first day of the month and the second to last day of the month. Transactions posted on the last day of the month will be applied to the next month's totals. 2) An ACH/Direct Deposit or ACH withdrawal of at least $100 must post and clear the account (internal transfers excluded). If qualifiers are not met, 0.01% APY will be paid on all balances. Any points earned on the credit card will still accrue even if these requirements are not met. May choose between e-Statements (free) or paper statements ($2.50 per month). Fees could reduce earnings.