Form990


Department of the TreasuryInternal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2025
Open to Public Inspection
A For the 2025 calendar year, or tax year beginning 01-01-2025 , and ending 12-31-2025
BCheck if applicable:
CName of organization
GreenState Credit Union
 
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
2355 Landon Road
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
North Liberty, IA523170800
D Employer identification number

42-0804594
E Telephone number

G Gross receipts $ 642,771,569
F Name and address of principal officer:
Vic Israni
2355 Landon Road
North Liberty,IA523170800
I
Tax-exempt status: ( 14 ) (insert no.) or
J
Website:
www.greenstate.org
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. See instructions.
H(c)
Group exemption number  
K Form of organization:  
L Year of formation: 1938
M State of legal domicile: IA
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: GreenState Credit Union exists to create lasting value by strengthening the financial wellbeing of its members and communities. Founded in 1938, the credit union delivers member focused financial services while returning value through competitive rates, lower fees, and community investment.
2 Check this box
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 9
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 0
5 Total number of individuals employed in calendar year 2025 (Part V, line 2a) ...... 5 1,118
6 Total number of volunteers (estimate if necessary) ............. 6 0
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 210,875
b Net unrelated business taxable income from Form 990-T, Part I, line 11 ......... 7b 0
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) .........   0
9 Program service revenue (Part VIII, line 2g) ......... 473,945,764 514,202,697
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 69,401,174 42,758,122
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 71,380,270 71,643,863
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 614,727,208 628,604,682
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 4,915,799 4,200,526
14 Benefits paid to or for members (Part IX, column (A), line 4).....   0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 115,899,560 135,406,296
16a Professional fundraising fees (Part IX, column (A), line 11e) .....   0
b Total fundraising expenses (Part IX, column (D), line 25) 0    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 473,686,422 496,882,545
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 594,501,781 636,489,367
19 Revenue less expenses. Subtract line 18 from line 12....... 20,225,427 -7,884,685
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 10,631,477,748 11,160,440,113
21 Total liabilities (Part X, line 26)............. 9,824,957,202 10,356,773,016
22 Net assets or fund balances. Subtract line 21 from line 20..... 806,520,546 803,667,097
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
Signature of officer Date
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name

Firm's EIN
Firm's address



Phone no.
May the IRS discuss this return with the preparer shown above? See Instructions. ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2025)
Form 990 (2025)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III..............
1
Briefly describe the organization’s mission: GreenState Credit Union exists to create lasting value by strengthening the financial wellbeing of its members and communities. Founded in 1938, the credit union delivers member focused financial services while returning value through competitive rates, lower fees, and community investment.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? .....................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ...........................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
GreenState Credit Union provides lending services with competitive rates. The lending portfolio includes: - Mortgage loans including both first and second mortgages - Consumer loans including primarily auto loans and unsecured personal loans - Commercial Loans including both commercial real-estate and non-real-estate lending In 2025, the credit union originated $2.6 billion of mortgage loans; $826 million of consumer and $191 million of commercial loans.
4b (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
GreenState also provides opportunities for members to save for future needs in the form of Savings, Money Market, CDs while offering competitive rates on these funds. In 2025, member deposits grew $439 million.
4c (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
GreenState also provides membership with avenues to transact business via channels such as ACH, wire, electronic funds transfer, etc. In 2025, the credit union processed over 82 million financial transactions on behalf of its members.
4d Other program services (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expenses0
Form 990 (2025)
Form 990 (2025)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule A.....................
1
 
No
2
Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. ...
2
 
No
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part I.............
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II.........
4
 
No
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Rev. Proc. 98-19? If "Yes," complete Schedule C, Part IIIClick to see attachment
List of Attached Documents:
// Content
..
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part I.........................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part II....
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part III..............
8
 
No
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment
List of Attached Documents:
// Content
..............
9
Yes
 
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V......
10
 
No
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X, as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment
List of Attached Documents:
// Content
...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VII.......
11b
 
No
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIII.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IX............
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XII......................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
List of Attached Documents:
// Content
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States? .....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV.........
14b
 
No
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV.....
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...
16
 
No
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions. ....
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.....Click to see attachment
List of Attached Documents:
// Content
21
Yes
 
Form 990 (2025)
Form 990 (2025)
Page 4
Part IV
Checklist of Required Schedules (continued)
Yes
No
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........
22
 
No
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
List of Attached Documents:
// Content
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............
24c
 
No
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
No
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I ....
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................
25b
 
No
26
Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part IIClick to see attachment
List of Attached Documents:
// Content
...........
26
Yes
 
27
Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?
If "Yes," complete
Schedule L, Part III.........................
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................
28a
 
No
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....
28b
 
No
c
A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV.....................
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............Click to see attachment
List of Attached Documents:
// Content
33
Yes
 
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1.........................Click to see attachment
List of Attached Documents:
// Content
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
 
No
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ...
35b
 
No
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2.............
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VI
37
 
No
38
Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........
Yes
No
1a
Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable ..
1a
167,436
b
Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
 
 
Form 990 (2025)
Form 990 (2025)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance (continued)
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
1,118
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..
4a
 
No
b
If "Yes," enter the name of the foreign country:
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................
7a
 
 
b
If "Yes," did the organization notify the donor of the value of the goods or services provided? .....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................
7c
 
 
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?
7e
 
 
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..
7f
 
 
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the sponsoring organization make any taxable distributions under section 4966?........
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
15
Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.
15
Yes
 
16
Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.
16
 
No
17
Section 501(c)(21) organizations. Did the trust, or any disqualified or other person engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.
17
 
 
Form 990 (2025)
Form 990 (2025)
Page 6
Part VI
Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
1a
9
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent
1b
0
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
Yes
 
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
Yes
 
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
Yes
 
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .......................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
No
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe on Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe on Schedule O how this was done...................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
No
Section C. Disclosure
17
List the states with which a copy of this Form 990 is required to be filed
IA
18
Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
VIC ISRANI2355 LANDON ROAD   NORTH LIBERTY,IA53217 (319) 341-2101
Form 990 (2025)
Form 990 (2025)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See the instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (box 5 of Form W-2, box 6 of Form 1099-MISC, and/or box 1 of Form 1099-NEC) of more than $100,000 from the organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

See the instructions for the order in which to list the persons above.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) Drew Denning......................................................................
BOD - Treasurer
 6.0
.................
  		X   X       18,396 0 0
(2) Fred Mims......................................................................
BOD - Chairperson
 16.0
.................
  		X   X       23,260 0 0
(3) Laurel Day......................................................................
BOD - Secretary
 3.0
.................
  		X   X       20,849 0 0
(4) Lynsey Engels......................................................................
BOD - Vice Chariperson
 11.0
.................
  		X   X       18,396 0 0
(5) Mark Rolinger......................................................................
BOD - Credit Committee Chairperson
 3.0
.................
  		X   X       24,507 0 0
(6) MJ Dolan......................................................................
BOD - Audit Risk Managment Committee Chairperson
 3.0
.................
  		X   X       20,813 0 0
(7) Kevin Kieth......................................................................
Board of Directors
 3.0
.................
  		X           20,055 0 0
(8) Richard Noble......................................................................
Board of Directors
 3.0
.................
  		X           21,662 0 0
(9) Tiffany O'Donnell......................................................................
BOD - Director
 3.0
.................
  		X           18,396 0 0
(10) Christopher Pech......................................................................
Chief Legal Officer
 50.0
.................
  		    X       394,548 0 34,842
(11) Heather Stumpf......................................................................
Chief Financial Officer
 50.0
.................
  		    X       391,417 0 14,391
(12) James Kelly......................................................................
Chief Marketing Officer
 50.0
.................
  		    X       443,784 0 62,634
(13) Jennifer Bleil......................................................................
Chief Administrative Officer
 50.0
.................
  		    X       395,724 0 25,872
(14) KATHERINE COURTNEY LEFT 112025......................................................................
CHIEF EXPERIENCE AND OPERATING OFFICER
 50.0
.................
  		    X       1,135,963 0 38,500
(15) Ryan Doehrmann......................................................................
Chief Lending Officer
 50.0
.................
  		    X       417,592 0 57,099
(16) Ryan Gage......................................................................
Chief Risk Officer
 50.0
.................
  		    X       392,958 0 37,262
(17) Samantha McSorley......................................................................
Chief Operating Officer
 50.0
.................
  		    X       451,167 0 38,500
Form 990 (2025)
Form 990 (2025)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) Scott Taylor........................................................................
Chief Information Officer
 50.0
.......................   		    X       446,371 0 38,408
(19) Vikram Israni........................................................................
Chief Executive Officer
 50.0
.......................   		    X       1,549,515 0 32,646
(20) Aaron Kowalski........................................................................
VP/Mortgage Loan Officer
 50.0
.......................   		        X   651,003 0 32,656
(21) Daryn Peterson........................................................................
VP/Mortgage Lending
 50.0
.......................   		        X   938,372 0 38,500
(22) Eric Norman........................................................................
SVP/Mortgage Lending
 50.0
.......................   		        X   810,303 0 58,262
(23) Peter Johnson........................................................................
VP/Mortgage Loan Officer
 50.0
.......................   		        X   699,545 0 58,262
(24) Scott Langenberg........................................................................
VP/Mortgage Loan Officer
 50.0
.......................   		        X   660,881 0 58,262












1b Sub-Total..............
c Total from continuation sheets to Part VII, Section A..
d Total (add lines 1b and 1c)......... 9,965,477 0 626,096
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 364
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
Yes
 
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
RSM US LLP

331 W 3rd S Ste 200
Davenport,IA52801 		Technology Support 5,856,707
Xactus

370 Reed Road Suite 100
Boomall,PA19008 		Credit Reporting 5,699,189
SALESFORCECOM INC

111 MONUMENT CIRCLE
INDIANAPOLIS,IN46204 		CRM SERVICES 4,389,623
Q2 SOFTWARE INC

13785 RESEARCH BLVD
AUSTIN,TX78750 		SOFTWARE SERVICES 4,336,707
CONLON CONSTRUCTION CO

501 BELL ST
DUBUQUE,IA52001 		CONSTRUCTION Services 3,468,748
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 142
Form 990 (2025)
Form 990 (2025)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, Grants, and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues..1b  
c Fundraising events..1c  
d Related organizations1d  
e Government grants (contributions)1e  
f All other contributions, gifts, grants, and similar amounts not included above1f  
g Noncash contributions included in lines 1a - 1f:$ 1g  
h Total. Add lines 1a-1f....... 0
Program Service RevenueAmt Business Code
2a LOAN INTEREST REVENUE 522100 492,838,377 492,838,377    
b ATM FEE REVENUE 522100 21,364,320 21,153,445 210,875  
c
d
e
f All other program service revenue. 0 0 0 0
g Total. Add lines 2a–2f ..... 514,202,697
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ...... 51,919,244     51,919,244
4 Income from investment of tax-exempt bond proceeds        
5 Royalties...........        
(i) Real (ii) Personal
6a Gross rents 6a 110,016  
b Less: rental expenses 6b    
c Rental income or (loss) 6c 110,016 0
d Net rental income or (loss)....... 110,016     110,016
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 7a   5,005,765
b Less: cost or other basis and sales expenses 7b   14,166,887
c Gain or (loss) 7c 0 -9,161,122
d Net gain or (loss)......... -9,161,122     -9,161,122
8a Gross income from fundraising events (not including $   of contributions reported on line 1c). See Part IV, line 18 ....
8a  
b Less: direct expenses ... 8b  
c Net income or (loss) from fundraising events.. 0    
9a Gross income from gaming activities.
See Part IV, line 19 ...
9a  
b Less: direct expenses ... 9b  
c Net income or (loss) from gaming activities..        
10a Gross sales of inventory, less
returns and allowances ..
10a  
b Less: cost of goods sold .. 10b  
c Net income or (loss) from sales of inventory..        
OtherRevenueMiscAmt
Business Code
11a SERVICE RELEASE PREMIUMS 522100 27,148,900 27,148,900    
b MISCELLANEOUS REVENUE 522100 23,996,857 23,996,857    
c INTERCHANGE REVENUE 522100 20,388,090 20,388,090    
d All other revenue .... 0 0 0 0
e Total. Add lines 11a–11d ...... 71,533,847
12 Total revenue. See instructions..... 628,604,682 585,525,669 210,875 42,868,138
Form 990 (2025)
Form 990 (2025)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising
expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 .... 4,200,526  
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ...........    
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............    
4 Benefits paid to or for members .......    
5 Compensation of current officers, directors, trustees, and key employees ........... 6,399,196      
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........        
7 Other salaries and wages........ 79,388,429      
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 8,165,173      
9 Other employee benefits ....... 33,925,281      
10 Payroll taxes ........... 7,528,217      
11 Fees for services (non-employees):        
a Management ......        
b Legal ......... 712,450      
c Accounting ........... 1,406,159      
d Lobbying ...........        
e Professional fundraising services. See Part IV, line 17    
f Investment management fees ......        
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) 1,812,702      
12 Advertising and promotion .... 5,440,623      
13 Office expenses ....... 10,054,949      
14 Information technology ...... 16,729,269      
15 Royalties ..        
16 Occupancy ........... 11,067,247      
17 Travel ............ 443,026      
18 Payments of travel or entertainment expenses for any federal, state, or local public officials .        
19 Conferences, conventions, and meetings .... 17,780      
20 Interest ........... 55,613,649      
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization .. 6,763,475      
23 Insurance ... 1,888,039      
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a INTEREST PAID TO MEMBERS 259,145,729      
b PROVISION FOR LOAN LOSS 73,366,256      
c MISCELLANEOUS EXPENSE 31,096,834      
d PROCESSING FEES 21,324,358      
e All other expenses 0      
25 Total functional expenses. Add lines 1 through 24e 636,489,367      
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).        
Form 990 (2025)
Form 990 (2025)
Page 11
Part X
Balance Sheet
Check if Schedule O contains a response or note to any line in this Part IX..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ........ 1,020,345,348 1 1,115,910,002
2 Savings and temporary cash investments .........   2  
3 Pledges and grants receivable, net ......   3  
4 Accounts receivable, net .............   4  
5 Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
18,012,027 5 38,613,982
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
0 6 0
7 Notes and loans receivable, net ........... 8,922,728,777 7 9,159,779,544
8 Inventories for sale or use ............   8  
9 Prepaid expenses and deferred charges ...... 13,914,844 9 13,625,426
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 204,590,838
b Less: accumulated depreciation 10b 54,141,363 143,229,765 10c 150,449,475
11 Investments—publicly traded securities . 114,036,375 11 120,420,629
12 Investments—other securities. See Part IV, line 11 ..... 0 12  
13 Investments—program-related. See Part IV, line 11 .. 0 13  
14 Intangible assets ............... 133,026,365 14 131,061,965
15 Other assets. See Part IV, line 11 ........... 266,184,247 15 430,579,090
16 Total assets. Add lines 1 through 15 (must equal line 33)... 10,631,477,748 16 11,160,440,113
Liabilities 17 Accounts payable and accrued expenses ..... 55,688,355 17 144,780,265
18 Grants payable ...   18  
19 Deferred revenue .........   19  
20 Tax-exempt bond liabilities .........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D   21  
22 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
0 22 0
23 Secured mortgages and notes payable to unrelated third parties .. 1,191,000,000 23 1,435,900,000
24 Unsecured notes and loans payable to unrelated third parties ..   24  
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D 8,578,268,847 25 8,776,092,751
26 Total liabilities. Add lines 17 through 25.. 9,824,957,202 26 10,356,773,016
Net Assets or Fund Balance Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27 Net assets without donor restrictions ..........   27  
28 Net assets with donor restrictions ...........   28  
Organizations that do not follow FASB ASC 958, check here right arrow and complete lines 29 through 33.
29 Capital stock or trust principal, or current funds .....   29  
30 Paid-in or capital surplus, or land, building or equipment fund ...   30  
31 Retained earnings, endowment, accumulated income, or other funds 806,520,546 31 803,667,097
32 Total net assets or fund balances ........... 806,520,546 32 803,667,097
33 Total liabilities and net assets/fund balances ........ 10,631,477,748 33 11,160,440,113
Form 990 (2025)
Form 990 (2025)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
628,604,682
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
636,489,367
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
-7,884,685
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
806,520,546
5
Net unrealized gains (losses) on investments ...............
5
1,543,819
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
3,487,417
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
803,667,097
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII.............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain on
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Uniform Guidance, 2 C.F.R. Part 200, Subpart F?
3a
 
No
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
 
 
Form 990 (2025)
Form 990 (2025)
Additional Data


Software ID: 25022866
Software Version: 2025v4.1
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
GreenState Credit Union
 
Employer identification number

42-0804594
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ........    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ...................... 2a  
b Total acreage restricted by conservation easements .................... 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year  
4
Number of states where property subject to conservation easement is located  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
 
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
$  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1 ......................... $  
(ii)
Assets included in Form 990, Part X ............................... $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1 .......................... $  
b
Assets included in Form 990, Part X ............................... $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b If "Yes," explain the arrangement in Part XIII and complete the following table: Amount
c Beginning balance ............................. 1c  
d Additions during the year ............................ 1d  
e Distributions during the year .......................... 1e  
f Ending balance ................................ 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a) Current year (b) Prior year (c) Two years back (d) Three years back (e) Four years back
1a Beginning of year balance ....          
b Contributions ...          
c Net investment earnings, gains, and losses          
d Grants or scholarships ...          
e Other expenditures for facilities
and programs ... 		         
f Administrative expenses ....          
g End of year balance ......          
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment  
b
Permanent endowment  
c
Term endowment  
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) Unrelated organizations .................
3a(i)
 
 
(ii) Related organizations .................
3a(ii)
 
 
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis
(investment) 		(b) Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .....   42,489,956 42,489,956
b Buildings ....   114,707,501 22,516,611 92,190,890
c Leasehold improvements   406,579 22,222 384,357
d Equipment ....   35,501,859 27,486,337 8,015,522
e Other .....   11,484,943 4,116,193 7,368,750
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).. 150,449,475
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 3
Part VII
Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1) Financial derivatives.........    
(2) Closely-held equity interests........    
(3)Other
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)  
Part VIII
Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)  
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........  
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
(1) Federal income taxes  
Federal Income Taxes  
MEMBER CHECKING & SAVINGS ACCOUNT 3,632,806,545
CD'S & IRA'S 4,329,793,874
NONMEMBER MMA 813,492,332
ROU LIABILITY  




Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.) 8,776,092,751
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ........... 2d 0
e Add lines 2a through 2d ..................... 2e 0
3 Subtract line 2e from line 1.................. 3 0
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b 0
c Add lines 4a and 4b.................... 4c 0
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 0
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1  
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a  
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ........... 2d 0
e Add lines 2a through 2d.................... 2e 0
3 Subtract line 2e from line 1................... 3 0
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ........... 4b 0
c Add lines 4a and 4b..................... 4c 0
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 0
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part IV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
Schedule D, Part IV, Line 2b Explanation of escrow agreement GREENSTATE CREDIT UNION COLLECTS AMOUNTS FROM MEMBERS WITH REAL ESTATE LOANS EACH MONTH VIA THEIR CONTRACTUAL PAYMENT SCHEDULE. THESE FUNDS ARE HELD IN ESCROW UNTIL THEY NEED TO BE DISBURSED IN ACCORDANCE WITH THE ESCROW INSTRUCTIONS FOR EACH MEMBER. AMOUNTS HELD IN ESCROW ARE FOR PROPERTY TAXES AND HOMEOWNER'S INSURANCE.
Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote GreenState Credit Union is exempt from income tax under section 501(c)(14) of the Internal Revenue Code and therefore no income taxes have been provided for the financial statements. The credit union does however pay property taxes to the county and city on its buildings and computer equipment and is assessed other amounts which have been reflected in the credit unions financial statements. The credit union accounts for uncertainty in income taxes in accordance with ASC 740, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the credit union may recognize the tax benefits from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses derecognition, classification, interest and penalties on income taxes, and accounting in interim periods. This standard did not have an impact on the financial statements and the credit union does not have any uncertain tax positions. The credit union recognizes interest and penalties on income taxes as a component of income tax expense.
Schedule D (Form 990) (Rev. 1-2025)


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Schedule I
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public
Inspection
Name of the organization
GreenState Credit Union
 
Employer identification number
42-0804594
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient
that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC section
(if applicable)		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
noncash assistance		 (h) Purpose of grant
or assistance
(1) GREENSTATE FOUNDATION
2355 Landon Rd
North Liberty,IA523176508 		88-0616839 501(c)(3) 600,000       2025 Annual Contribution
(2) IOWA CITY COMMUNITY SCHOOL DISTRICT FOUNDATION
2255 N Dubuque Rd
Iowa City,IA522459580 		42-1177023 501(c)(3) 83,333       School of the Wild
(3) JUNIOR ACHIEVEMENT OF EASTERN IOWA
324 3rd St SE
Cedar Rapids,IA524011804 		42-0919209 501(c)(3) 51,350       3DE Founding Partner
(4) SUMMER OF THE ARTS INC
319 E 1st Street
Iowa City,IA52240 		42-1412706 501(c)(3) 32,000       Iowa City Jazz Festival
(5) IOWA CHILDRENS MUSEUM
1451 Coral Ridge Avenue
Coralville,IA52241 		42-1461422 501(c)(3) 31,500       Program and Exhibit Support for The ICM 2024-2026
(6) West Des Moines Parks & Recreation
4200 Mills Civic Parkway
West Des Moines,IA50265 		42-6005359 Municipal Government 30,000       MidAmerican RecPlex Field Sponsor
(7) STATE UNIVERSITY OF IOWA FOUNDATION
One West Park Road
Iowa City,IA52242 		42-0796760 501(c)(3) 30,000       Carver Circle campaign - Iowa Wrestling training facility
(8) COMMUNITY FOUNDATION OF JOHNSON
136 S Dubuque St
Iowa City,IA522404009 		42-1508117 501(c)(3) 25,000       Pledge Payment 1/4 - Johnson County Childcare Solutions Fund
(9) PARAMOUNT ARTS CENTRE INC
23 E Galena Blvd
Aurora,IL605064128 		36-3189061 501(c)(3) 25,000       Paramount School of the Arts Performance Camp
(10) CEDAR RAPIDS COMMUNITY SCHOOL DISTRICT FOUNDATION
2500 Edgewood Rd NW
Cedar Rapids,IA524051015 		42-1197912 501(c)(3) 25,000       Pledge Payment 1/2 - Student Enrichment Grant Program
(11) WAYPOINT SERVICES FOR WOMEN CHILDREN AND FAMILIES
318 5th St SE
Cedar Rapids,IA524011601 		42-0680307 501(c)(3) 25,000       Pledge Payment 1/4 - Creating Hope: A New Vision for the Madge Phillips Center
(12) Dubuque Community YMCAYWCA
35 N Booth St
Dubuque,IA52001 		42-0934471 501(c)(3) 25,000       You Can Be Great Here - Capital Campaign
(13) COMMUNITY THEATRE OF CEDAR RAPIDS INC
102 3rd St SE
Cedar Rapids,IA524011210 		42-0890913 501(c)(3) 25,000       TCR's Dream Here. Do Here. Capital Campaign
(14) IOWA HEALTH FOUNDATION
1415 Woodland Ave
Des Moines,IA503093203 		42-1467682 501(c)(3) 25,000       Rally Against Cancer - John Stoddard Cancer Center
(15) Wings2Water
2515 Arthur Collins Parkway SW
Cedar Rapids,IA52404 		84-3818542 501(c)(3) 25,000       First Class Water Warriors a.k.a. Water Warriors
(16) CEDAR RAPIDS FREEDOM FESTIVAL INC
609 1st Avenue SW
Cedar Rapids,IA52405 		42-1329035 501(c)(3) 25,000       Celebration of Freedom Fireworks
(17) MORTON ARBORETUM
4100 Lincoln Ave
Lisle,IL605321288 		36-1505770 501(c)(3) 25,000       Fall Color Festival Sponsor 2025
(18) Cedar Rapids Metro Economic Alliance
501 1st St SE
Cedar Rapids,IA52401 		42-0172900 501(c)(6) 25,000       2025 Buy Local program - presenting sponsor
(19) UNITED WAY OF JOHNSON & WASHINGTON COUNTIES INC
160 Southgate Ave
Iowa City,IA522404344 		42-6062055 501(c)(3) 25,000       2025 Corporate Gift
(20) TRINITY HEALTH FOUNDATION
804 Kenyon Rd
Fort Dodge,IA505015742 		42-1222381 501(c)(3) 20,000       Pledge Payment 1/2 - Trinity Surgery Expansion and Renovation Project
(21) North Liberty Community Pantry
89 N Jones BLVD
North Liberty,IA52317 		42-1233284 501(c)(3) 20,000       Planting New Roots
(22) DES MOINES ART FESTIVAL INC
700 Locust Street
Des Moines,IA50309 		42-1471969 501(c)(3) 20,000       Des Moines Arts Festival
(23) NO FOOT TOO SMALL
1150 5th St
Coralville,IA522412913 		82-4301632 501(c)(3) 20,000       Celebrate Angels in the Outfield 2025
(24) Regina Foundation
2140 Rochester Avenue
Iowa City,IA522453527 		51-0158837 501(c)(3) 17,500       2025 Annual Funding Proposal for Regina Gala
(25) MARION PARK & RECREATION FOUNDATION INC
4500 N 10th St
Marion,IA52302 		50-0006308 501(c)(3) 16,667       Pledge Payment 1/3 - Marion Central Plaza Pledge
(26) NewBo City Market
1100 Third Street SE
Cedar Rapids,IA52401 		27-0600567 501(c)(3) 16,667       Next Level Local Capital Campaign
(27) GOLF CHARITABLE FOUNDATION OF GREATER DES MOINES
6th Ave
Des Moines,IA50309 		81-2651226 501(c)(3) 15,000       Pedal to the PCC
(28) IOWA CITY AREA CHAMBER OF COMMERCE
136 S Dubuque St
Iowa City,IA522404009 		42-0330530 501(c)(6) 15,000       Strategic Investment Districts
(29) JUNIOR ACHIEVEMENT OF THE HEARTLAND
800 12th Ave
Moline,IL612652956 		36-2684253 501(c)(3) 15,000       Sponsorship Request for JA Inspire Career Expo and JA Bowl-A-Thon
(30) Boys & Girls Clubs of the Corridor
420 6th Street SE
Cedar Rapids,IA524011903 		42-1434056 501(c)(3) 15,000       Unlocking the Future Campaign
(31) IOWA SPORTS FOUNDATION
1421 S Bell Ave
Ames,IA50010 		42-1278326 501(c)(3) 15,000       Adaptive Sports Iowa - Grizzlies Youth Wheelchair Basketball
(32) Zach Johnson Foundation
PO BOX 2336
Cedar Rapids,IA52406 		27-2683100 501(c)(3) 15,000       Zach Johnson Foundation Classic & Gala
(33) IOWA SPECIAL OLYMPICS INC
PO Box 620
Grimes,IA50111 		51-0176029 501(c)(3) 15,000       Special Olympics Iowa - Statewide Event
(34) Iowa College Foundation
505 5th Avenue
Des Moines,IA503091311 		42-0745995 501(c)(3) 15,000       ICF Annual Request for Unrestricted Funding and the Opportunity Scholarship Challenge
(35) IWLC
415 12th Ave SE
Cedar Rapids,IA52401 		45-2932668 501(c)(3) 15,000       2025 Cedar Rapids Conference
(36) Simpson College
701 North C Street
Simpson College Kent Campus Center
Indianola,IA50125 		42-0680389 501(c)(3) 15,000       GreenState Credit Union - All in for Iowa Scholarship
(37) ENGLERT CIVIC THEATRE INC NON PROFIT
221 E Washington St
Iowa City,IA52240 		42-1508154 501(c)(3) 13,000       Mission Creek Festival
(38) IOWA CITY DOWNTOWN SELF SUPPORTED MUNICIPAL IMPROVEMENT DISTRICT
103 E College Street
Iowa City,IA52240 		42-1376887 501(c)(6) 13,000       Farm to Street Dinner AND Kids Market/Holiday Market
(39) TRINITY HEALTH FOUNDATION
804 Kenyon Rd
Fort Dodge,IA505015742 		42-1222381 501(c)(3) 12,500       Trinity Cancer Center Expansion
(40) DUBUQUE COUNTY HISTORICAL SOCIETY
350 E 3rd St
Dubuque,IA520012302 		42-6072050 501(c)(3) 12,500       Preserve the Wonder
(41) Grinnell Regional Medical Center Foundation
210 4th Avenue
Grinnell,IA50112 		42-1454737 501(c)(3) 12,500       Delivering Our Future capital campaign
(42) IOWA CITY-CORALVILLE CONVENTION AND VISTORS BUREAU
900 1st Ave
Coralville,IA522412108 		42-1203842 501(c)(6) 12,500       Foodie February/FRYfest
(43) CEDAR BASIN JAZZ FESTIVAL INC
1008 Erik Road
Cedar Falls,IA50613 		42-1423557 501(c)(3) 12,000       Cedar Basin Music Festival 2023
(44) City of North Liberty
520 W CHERRY ST
North Liberty,IA52317 		42-0926682 Municipal Government 12,000       Fire & Ice
(45) Benedictine University
5510 College Rd
Lisle,IL60532 		36-2722198 501(c)(3) 10,800       Nature to Nurture Animal Therapy Programming
(46) Wesley Community Services Inc
5508 NW 88th St
Johnston,IA501313005 		20-3970256 501(c)(3) 10,000       WesleyLife Meals on Wheels
(47) THE SALVATION ARMY
520 Hollister Ave
Rockford,IL611081649 		36-2167910 501(c)(3) 10,000       Koats4Kids Program
(48) Chicago Zoological Society
3300 Golf Rd
Brookfield,IL605131060 		36-2167016 501(c)(3) 10,000       BZC Summertime Animal Chat Series
(49) QUAD CITIES CHAMBER OF COMMERCE INC
331 W 3rd St
Davenport,IA528011205 		27-3065786 501(c)(6) 10,000       Deck the Downtowns
(50) Linking Families and Communities
822 Central Avenue
Fort Dodge,IA50501 		42-1595304 501(c)(3) 10,000       Planting the SEEDS for a Brighter Future
(51) ENTREPRENEURIAL DEVELOPMENT CENTER INC
230 2nd St SE
Cedar Rapids,IA52401 		42-1447565 501(c)(6) 10,000       EDC Vitality Campaign
(52) Grinnell School of Music
720 5th Avenue
Grinnell,IA50112 		88-3118049 501(c)(3) 10,000       Capital Campaign
(53) WAYPOINT SERVICES FOR WOMEN CHILDREN AND FAMILIES
318 5th St SE
Cedar Rapids,IA524011601 		42-0680307 501(c)(3) 10,000       Waypoint Corporate Sponsorship
(54) JULIEN DUBUQUE INTERNATIONAL FILM FESTIVAL
450 Bradley Street
Dubuque,IA52003 		26-4261800 501(c)(3) 10,000       Julien Dubuque International Film Festival (JDIFF)
(55) BIG BROTHERS BIG SISTERS OF CENTRAL IOWA INC
9051 Swanson Blvd
Clive,IA50325 		42-1184999 501(c)(3) 10,000       Bowling for Kids' Sake
(56) Big Brothers Big Sisters Of Johnson County Inc
3109 Old Hwy 218 S
Iowa City,IA52246 		93-4483735 501(c)(3) 10,000       Bowl for Kids' Sake 2025 - Space Bowl
(57) FAMILY COUNSELING SERVICES OF NO ILL
631 N Longwood St
Rockford,IL611074263 		36-2167065 501(c)(3) 10,000       Presenting Sponsor for Dancing With The Rockford Stars
(58) COMMUNITY THEATRE OF CEDAR RAPIDS INC
102 3rd St SE
Cedar Rapids,IA524011210 		42-0890913 501(c)(3) 10,000       TCR Lounge and Concessions Sponsorship
(59) FOOD BANK OF IOWA
PO Box 1517
Des Moines,IA50309 		42-1177880 501(c)(3) 10,000       Food Insecurity
(60) Northern Illinois Food Bank
273 Dearborn Ct
Geneva,IL601343587 		36-3203648 501(c)(3) 10,000       Food Insecurity
(61) HEART MINISTRY CENTER INC
2222 Binney St
Omaha,NE681102038 		81-0614816 501(c)(3) 10,000       Food Insecurity
(62) Boys & Girls Clubs of the Corridor
420 6th Street SE
Cedar Rapids,IA524011903 		42-1434056 501(c)(3) 8,750       Community Sponsor
(63) Boys & Girls Clubs of the Corridor
420 6th Street SE
Cedar Rapids,IA524011903 		42-1434056 501(c)(3) 8,750       Community Sponsor
(64) St Thomas More Catholic Church
3000 12th Ave
Coralville,IA52241 		42-0680432 501(c)(3) 8,333       Growing More in Faith Capital Campaign
(65) IOWA CITY DOWNTOWN SELF SUPPORTED MUNICIPAL IMPROVEMENT DISTRICT
103 E College Street
Iowa City,IA52240 		42-1376887 501(c)(6) 8,000       2025 Downtown Block Party
(66) National Balloon Classic Ltd
701 N Jefferson Way
PO Box 346
Indianola,IA501251419 		51-0137286 501(c)(3) 8,000       National Balloon Classic
(67) BREAKTHROUGH T1D
1260 2nd Ave SE
Cedar Rapids,IA524034072 		23-1907729 501(c)(3) 8,000       Breakthrough T1D Walk | Breakthrough T1D Promise Gala
(68) Indian Prairie School District 204
780 Shoreline Dr
Aurora,IL60504 		36-2746876 Public School 8,000       GIVE Volunteer Program Presented by GreenState Credit Union
(69) IOWA CITY COMMUNITY SCHOOL DISTRICT FOUNDATION
2255 N Dubuque Rd
Iowa City,IA522459580 		42-1177023 501(c)(3) 7,500       2025 Give & Grow School Match
(70) FilmScene
404 E College St
Iowa City,IA522401851 		45-4103745 501(c)(3) 7,500       Teen Cinema Programs
(71) IOWA WOMENS FOUNDATION
2150 James St
Coralville,IA522418000 		42-1431092 501(c)(3) 7,500       IWF Annual Luncheon
(72) Knock and Drop Iowa
1000 E 14TH ST
DES MOINES,IA503163400 		85-0633938 501(c)(3) 7,500       Cultural Events with cultural foods
(73) Holy Family Catholic Schools
2005 Kane Street
Dubuque,IA52001 		42-0792429 501(c)(3) 7,500       Circle of Celebration
(74) State University of Iowa Foundation
1 W Park Rd
Iowa City,IA522422000 		42-0796760 501(c)(3) 6,600       Hancher Circle Fund Gift
(75) XAVIER FOUNDATION
PO Box 10956
Cedar Rapids,IA52410 		42-1479238 501(c)(3) 6,300       Xavier's Dancing with the Saints, Season 9
(76) CHILDSERVE FOUNDATION INC
2350 Oakdale Rd
Coralville,IA52241 		42-1157665 501(c)(3) 6,000       ChildServe- Annual Events Bubble Ball and Launch & Learn
(77) MUTUAL GROUND INC
418 Oak Avenue
Aurora,IL605063119 		36-2921680 501(c)(3) 5,550       Mutual Ground's 50th Anniversary Annual Sponsorship
(78) Bridge Communities Inc
505 Crescent Blvd
Glen Ellyn,IL60137 		36-3705951 501(c)(3) 5,500       Wine Women & Shoes; Glen Ellyn Backyard BBQ
(79) HOPES FRONT DOOR
1047 Curtiss Street
Downers Grove,IL60515 		27-0073814 501(c)(3) 5,500       Hands of Hope Luncheon/Pathways to Financial Health
(80) CONSERVATION FOUNDATION
10s404 Knoch Knolls
Naperville,IL60565 		23-7221206 501(c)(3) 5,500       2025 Events and Programs
(81) CEDAR VALLEY CANCER COMMITTEE
1407 Asbury Ln
Waterloo,IA507013555 		42-1445986 501(c)(3) 5,000       Warrior Sponsorship
(82) UPDOWNTOWNERS OF WATERLOO INC
512 Mulberry St
Waterloo,IA507033527 		42-1266451 501(c)(3) 5,000       Food Truck Festival Presenting Sponsor
(83) SAINT EDMOND CATHOLIC SCHOOL FOUNDATION
2321 6th Ave N
Fort Dodge,IA505013554 		26-2935041 501(c)(3) 5,000       2025 Give & Grow School Match
(84) FAITH ACADEMY
1030 Cross Park Ave
Iowa City,IA522404467 		82-3695813 501(c)(3) 5,000       2025 Give & Grow School Match
(85) HERITAGE CHRISTIAN SCHOOL
255 Hackberry St
North Liberty,IA523179730 		42-1386017 501(c)(3) 5,000       2025 Give & Grow School Match
(86) BLOOD CANCER UNITED INC
17330 W Center Rd
Omaha,NE681302392 		13-5644916 501(c)(3) 5,000       Light The Night Omaha Team Photo Area Sponsor
(87) MARION INDEPENDENT SCHOOL FOUNDATION AND ALUMNI ASSOCIATION
777 S 15th St
Marion,IA523024966 		42-1343360 501(c)(3) 5,000       FASTWorks
(88) BOYS AND GIRLS CLUB OF GREATER DUBU QUE
1299 Locust St
Dubuque,IA520014709 		42-0710263 501(c)(3) 5,000       43RD ANNUAL BOBBY ANDERSON BOYS & GIRLS CLUB GOLF FUN DAY
(89) American Heart Association Inc
9900 Nicholas St
Omaha,NE681142214 		13-5613797 501(c)(3) 5,000       Corporate Sponsorship - Omaha Go Red
(90) Anawim Housing
2024 Forest Ave
Des Moines,IA503113259 		42-1310967 501(c)(3) 5,000       We Empower Families Home is Everything Fundraising Event
(91) FAMILY MUSEUM OF ARTS AND SCIENCE FOUNDATION
2900 Learning Campus Drive
Bettendorf Iowa,IA52722 		61-1508009 501(c)(3) 5,000       1st Place for 1st Grade
(92) JUNIOR ACHIEVEMENT OF EASTERN IOWA
324 3rd St SE
Cedar Rapids,IA524011804 		42-0919209 501(c)(3) 5,000       Goals for Good 24/25 Season
(93) LUTHERAN CHILD AND FAMILY SERVICES OF ILLINOIS
One Oakbrook Terrace
Oakbrook Terrace,IL60181 		36-2167778 501(c)(3) 5,000       Wild West Harvest Fest Sponsorship
(94) STATE UNIVERSITY OF IOWA FOUNDATION
W Park Rd
Iowa City,IA52246 		42-0796760 501(c)(3) 5,000       HAWKEYE WOMEN: RISE CAMPAIGN
(95) Mays Music Centre of Excellence
500 W 5th Ave
Naperville,IL60563 		85-4299145 501(c)(3) 5,000       Scales Campaign
(96) ROAD RUNNERS CLUB OF AMERICA
1225 E River Dr
Davenport,IA52803 		93-0708918 501(c)(3) 5,000       Quad-City Times Bix 7 Road Race
(97) Greater Poweshiek Community Foundation
1510 Penrose Street
Grinnell,IA50112 		42-1298055 501(c)(3) 5,000       Business Partner in Philanthropy Program
(98) WATERLOO COMMUNITY SCHOOLS FOUNDATION
201 Tower Park Drive
Waterloo,IA50701 		42-1364293 501(c)(3) 5,000       Annual Sponsorship Program
(99) MULTICULTURAL FAMILY CENTER
1157 Central Ave
Dubuque,IA520015016 		27-0751743 501(c)(3) 5,000       5 year Room Sponsorship
(100) HABITAT FOR HUMANITY INTERNATIONAL INC
1600 Roosevelt Rd
Wheaton,IL60187 		36-4003119 501(c)(3) 5,000       Women Build/Golf Outing
(101) FREEPORT FESTIVALS INC
11 W Douglas St
Freeport,IL61032 		92-1236355 501(c)(3) 5,000       Tutty Baker Festival
(102) Pork Tornadoes LLC
4106 145th St
Urbandale,IA50323 		82-4418956 LLC 5,000       The Pork Tornadoes at Club 5 in Cedar Rapids, IA
(103) DUPAGE P A D S INC
601 W Liberty Dr
Wheaton,IL60187 		36-3675494 501(c)(3) 5,000       Taste of Hope & Charity Challenge: The Great Descent
(104) TABLE TO TABLE FOOD DISTRIBUTION NETWORK
1049 US-6
Iowa City,IA522406500 		42-1457219 501(c)(3) 5,000       Table to Table Annual Dinner
(105) BLANK PARK ZOO FOUNDATION INC
7401 SW 9th St
Des Moines,IA503156667 		42-1171821 501(c)(3) 5,000       Safari Soiree
(106) Quad Cities River Bandits
209 South Gaines Street
Davenport,IA52802 		11-3804992 LLC 5,000       Quad Cities River Bandits
(107) QUAD CITY STORM ONE GOAL FOUNDATION INC
4521 8th 1/2 St Ct
East Moline,IL612444183 		88-3825823 501(c)(3) 5,000       QC Storm Education Day Game 2024-25 Season (in Partnership with the QC Storm One Goal Foundation)
(108) Variety The Childrens Charity Of Iowa
505 5th Avenue
Des Moines,IA50309 		42-6077108 501(c)(3) 5,000       Polo on the Green
(109) NewBo City Market
1100 Third Street SE
Cedar Rapids,IA52401 		27-0600567 501(c)(3) 5,000       Meet Me at the Market
(110) GIGIS PLAYHOUSE INC
8801 N Second Street
Machesney Park,IL61115 		27-2251844 501(c)(3) 5,000       Legacy Sponsorship of "i have a voice" Gala with Triple Play Benefits
(111) Iowa Confluence Water Trails
5000 Westown Pkwy
West Des Moines,IA50266 		87-1605740 501(c)(3) 5,000       ICON Water Trails Operational Support
(112) HERITAGE CHRISTIAN SCHOOL
255 Hackberry St
North Liberty,IA523179730 		42-1386017 501(c)(3) 5,000       Heritage Gala: Educating for Eternity
(113) GRINNELL-NEWBURG BOOSTERS
1817 Prince St
Grinnell,IA50112 		42-1298353 501(c)(3) 5,000       Grinnell Tiger Athletic Booster Golf Outing
(114) Grinnell Historical Museum Society
703 First Avenue
PO Box 254
Grinnell,IA50112 		42-6065964 501(c)(3) 5,000       GHM New Museum Opening Day Exhibit
(115) Des Moines Area Community College Foundation
2006 S Ankeny Blvd
Ankeny,IA50023 		23-7229486 501(c)(3) 5,000       DMACC 5K Walk/Run and Kids Fun Run
(116) BOYS & GIRLS CLUBS OF CENTRAL IOWA INC
1421 Walker Street
Des Moines,IA50316 		42-6075138 501(c)(3) 5,000       Conscious Cash
(117) West Suburban Community Pantry Inc
6809 Hobson Valley Dr
Woodridge,IL60517 		36-3857072 501(c)(3) 5,000       Chefs' Culinary Celebration
(118) RESOURCESUNITE
1900 John F Kennedy Rd
Dubuque,IA52002 		36-4761269 501(c)(3) 5,000       Annual Sponsorship
(119) UNITED WAY AND COMMUNITY FOUNDATION OF GREATER FORT DODGE
24 North 9th Street
Fort Dodge,IA50501 		42-1439853 501(c)(3) 5,000       Albert Habhab Veterans Memorial Bridge
(120) Mentor Iowa
2332 Rocklyn Dr
Urbandale,IA503224935 		23-7329212 501(c)(3) 5,000       22nd Mentor Iowa auction
(121) Back 2 School Iowa
767 SE Williams Ct
Waukee,IA502638362 		82-4046219 501(c)(3) 5,000       2025 LadyLike PowHER Summit
(122) LATINO RESOURCES INC
4217 University Ave
DES MOINES,IA50311 		54-2074268 501(c)(3) 5,000       2025 Iowa Latino Heritage Festival
(123) Indian Creek Nature Center
5300 Otis Rd SE
Cedar Rapids,IA524037100 		23-7260197 501(c)(3) 5,000       2025 Field Trips Program and Backcountry Film Festival
(124) Bravo Greater Des Moines Inc
801 Grand Ave
Des Moines,IA50309 		20-3598346 501(c)(3) 5,000       2025 Bravo Awards Gala
(125) Hand in Hand
3860 Middle Road
Bettendorf,IA52722 		42-1508508 501(c)(3) 5,000       16th Annual Hand in Hand Chili cook-Off
(126) Beacon of Life
1717 Woodland Ave
Des Moines,IA503093323 		42-1253088 501(c)(3) 5,000       The Beacon Cake Gala 2025
(127) BOY SCOUTS OF AMERICA
660 32nd Ave SW
Cedar Rapids,IA52404 		42-0680304 501(c)(3) 5,000       Merit Badge University
(128) COMMUNITY FOUNDATION OF JOHNSON
501 12th Ave
Coralville,IA52241 		42-1508117 501(c)(3) 5,000       Corporate Partnership
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table .................
116
3
Enter total number of other organizations listed in the line 1 table ........................ .
12
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) Rev. 1-2025

Schedule I (Form 990) Rev. 1-2025
Page 2
Part III
Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Number of
recipients		 (c) Amount of
cash grant		 (d) Amount of
noncash assistance		 (e) Method of valuation (book,
FMV, appraisal, other)		 (f) Description of noncash assistance
(1)
(2)
(3)
(4)
(5)
(6)
(7)
Part IV
Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.
Return Reference Explanation
Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds Grant recipients apply for funding through the GreenState Credit Union website. Once grants are awarded, funds go directly to the recipient organization for use at their discretion.
Schedule I (Form 990) Rev. 1-2025



Additional Data


Software ID: 25022866
Software Version: 2025v4.1


Schedule J
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
GreenState Credit Union
 
Employer identification number

42-0804594
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....
2
Yes
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? .............
4a
Yes
 
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ....................
5a
 
 
b
Any related organization? .......................
5b
 
 
If "Yes," on line 5a or 5b, describe in Part III.
6
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ..................
6a
 
 
b
Any related organization? ......................
6b
 
 
If "Yes," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
 
8
Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................
8
 
 
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) (Rev. 1-2025)

Schedule J (Form 990) (Rev. 1-2025)
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column (B) reported as deferred on prior Form 990
(i) Base
compensation 		(ii) Bonus & incentive
compensation 		(iii) Other reportable compensation
1Vikram Israni
Chief Executive Officer 		(i)

(ii)		 783,343
-------------
0 		750,000
-------------
0 		16,172
-------------
0 		17,500
-------------
0 		15,146
-------------
0 		1,582,161
-------------
0 		0
-------------
0
2KATHERINE COURTNEY LEFT 112025
CHIEF EXPERIENCE AND OPERATING OFFICER 		(i)

(ii)		 422,866
-------------
0 		94,167
-------------
0 		618,930
-------------
0 		38,500
-------------
0 		0
-------------
0 		1,174,463
-------------
0 		0
-------------
0
3James Kelly
Chief Marketing Officer 		(i)

(ii)		 366,860
-------------
0 		70,804
-------------
0 		6,120
-------------
0 		38,122
-------------
0 		24,512
-------------
0 		506,418
-------------
0 		0
-------------
0
4Samantha McSorley
Chief Operating Officer 		(i)

(ii)		 371,656
-------------
0 		69,491
-------------
0 		10,020
-------------
0 		38,500
-------------
0 		0
-------------
0 		489,667
-------------
0 		0
-------------
0
5Scott Taylor
Chief Information Officer 		(i)

(ii)		 372,808
-------------
0 		67,443
-------------
0 		6,120
-------------
0 		38,408
-------------
0 		0
-------------
0 		484,779
-------------
0 		0
-------------
0
6Ryan Doehrmann
Chief Lending Officer 		(i)

(ii)		 342,839
-------------
0 		64,733
-------------
0 		10,020
-------------
0 		37,337
-------------
0 		19,762
-------------
0 		474,691
-------------
0 		0
-------------
0
7Ryan Gage
Chief Risk Officer 		(i)

(ii)		 379,270
-------------
0 		0
-------------
0 		13,688
-------------
0 		17,500
-------------
0 		19,762
-------------
0 		430,220
-------------
0 		0
-------------
0
8Christopher Pech
Chief Legal Officer 		(i)

(ii)		 365,102
-------------
0 		22,862
-------------
0 		6,584
-------------
0 		34,842
-------------
0 		0
-------------
0 		429,390
-------------
0 		0
-------------
0
9Jennifer Bleil
Chief Administrative Officer 		(i)

(ii)		 349,037
-------------
0 		39,667
-------------
0 		7,020
-------------
0 		13,034
-------------
0 		12,838
-------------
0 		421,596
-------------
0 		0
-------------
0
10Heather Stumpf
Chief Financial Officer 		(i)

(ii)		 341,404
-------------
0 		42,993
-------------
0 		7,020
-------------
0 		7,479
-------------
0 		6,912
-------------
0 		405,808
-------------
0 		0
-------------
0
11Daryn Peterson
VP/Mortgage Lending 		(i)

(ii)		 55,192
-------------
0 		882,280
-------------
0 		900
-------------
0 		38,500
-------------
0 		0
-------------
0 		976,872
-------------
0 		0
-------------
0
12Eric Norman
SVP/Mortgage Lending 		(i)

(ii)		 87,415
-------------
0 		721,988
-------------
0 		900
-------------
0 		38,500
-------------
0 		19,762
-------------
0 		868,565
-------------
0 		0
-------------
0
13Peter Johnson
VP/Mortgage Loan Officer 		(i)

(ii)		 42,477
-------------
0 		655,939
-------------
0 		1,129
-------------
0 		38,500
-------------
0 		19,762
-------------
0 		757,807
-------------
0 		0
-------------
0
14Scott Langenberg
VP/Mortgage Loan Officer 		(i)

(ii)		 41,122
-------------
0 		618,729
-------------
0 		1,030
-------------
0 		38,500
-------------
0 		19,762
-------------
0 		719,143
-------------
0 		0
-------------
0
15Aaron Kowalski
VP/Mortgage Loan Officer 		(i)

(ii)		 43,271
-------------
0 		606,832
-------------
0 		900
-------------
0 		9,295
-------------
0 		23,361
-------------
0 		683,659
-------------
0 		0
-------------
0
Schedule J (Form 990) (Rev. 1-2025)

Schedule J (Form 990) (Rev. 1-2025)
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.
Return Reference Explanation
Schedule J, Part I, Line 1a First-class or charter travel The board of directors policy allows for reasonable expenses as approved by the board of directors, while the employment contract for the President/CEO allow first class business purpose travel.
Schedule J, Part I, Line 1a Travel for companions The board of directors policy along with the contract for the President/CEO allow spouses to travel on business trips. Any expense related to travel companions is treated as taxable income and included in reportable compensation in Part VII and Schedule J.
Schedule J, Part I, Line 1a Housing allowance or residence for personal use Housing Allowance provided to Chief Risk Officer for duration of 3 months post-employment start date. Related benefit included as taxable compensation for a total of $6,668.
Schedule J, Part I, Line 1a Health or social club dues or initiation fees In tax year 2025, GreenState Credit Union provided social club dues for the CEO. The amount is included in reportable compensation in Part VII and Schedule J.
Schedule J, Part I, Line 4a Severance or change-of-control payment GreenState Credit Union made separation payment to Katherine Courtney - $610,560.
Schedule J (Form 990) (Rev. 1-2025)

Additional Data


Software ID: 25022866
Software Version: 2025v4.1
Schedule L
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
Complete if the organization answered "Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c, or Form 990-EZ, Part V, line 38a or 40b.
Attach to Form 990 or Form 990-EZ.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
GreenState Credit Union
 
Employer identification number

42-0804594
Part I
Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and section 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Relationship between disqualified person and organization (c) Description of transaction (d) Corrected?
Yes No
2
Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958. ........................... $
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ........ $
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22
(a) Name of interested person (b) Relationship with organization (c) Purpose of loan (d) Loan to or from the organization? (e) Original principal amount (f) Balance due (g) In default? (h) Approved by board or committee? (i) Written agreement?
To From Yes No Yes No Yes No
(1) Jeffrey Disterhoft
  		Retired CEO Split Dollar Life Insurance Policy   X 14,643,612 18,313,982   No Yes   Yes  
(2) Vikram Israni
  		President/CEO Split Dollar Life Insurance Policy   X 20,300,000 20,300,000   No Yes   Yes  
Total ............... $ 38,613,982
Part III
Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of assistance (d) Type of assistance (e) Purpose of assistance
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990) (Rev. 1-2025)
Schedule L (Form 990) (Rev. 1-2025)
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
Part V
Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).
Return Reference Explanation
Schedule L (Form 990) (Rev. 1-2025)


Additional Data


Software ID: 25022866
Software Version: 2025v4.1




SCHEDULE O
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
 Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public
Inspection
Name of the organization
GreenState Credit Union
 
Employer identification number

42-0804594
Return Reference Explanation
Form 990, Part VI, Line 6 Classes of members or stockholders GreenState Credit Union does have members as specified by their bylaws.
Form 990, Part VI, Line 7a Members or stockholders electing members of governing body The members of the board of directors are elected by the membership. Members may vote electronically prior to the annual meeting.
Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders There are five situations for state-chartered credit unions in Iowa to which membership vote is required for approval: *Charter conversion *Voluntary Dissolution *Amending or Reversing an act of the board of directors *Mergers *Removal or reinstatement of an officer, director or member of the auditing committee
Form 990, Part VI, Line 11b Review of form 990 by governing body The organization's governing body is provided an electronic copy of the form 990 prior to filing. The form 990 will be reviewed by the Organization's CFO and Accounting team.
Form 990, Part VI, Line 12c Conflict of interest policy GreenState Credit Union maintains and enforces a written conflict of interest policy applicable to directors, executive leadership, and employees. Covered individuals are required to disclose potential or actual conflicts annually and as they arise. Disclosures are reviewed at the appropriate management or governing body level to determine whether a conflict exists. Individuals with a conflict are required to recuse themselves from related deliberations and decisions. The policy applies to conflicts identified both before and after a transaction occurs.
Form 990, Part VI, Line 15a Process to establish compensation of top management official The Board of Directors appoints a Compensation Evaluation Subcommittee, a subcommittee of the Executive Committee, to oversee and approve the compensation of the President/CEO. The Subcommittee reviews and approves salary, benefits, and perquisites, and prepares an annual executive compensation report for full Board review. Executive officer compensation is reviewed annually by the President/CEO as part of the formal performance evaluation process. Compensation decisions are based on independent market compensation data, market trends, and individual and organizational performance. This process was last completed in 2025.
Form 990, Part VI, Line 15b Process to establish compensation of other employees The CEO/President position is reviewed by the board appointed Compensation Committee with recommendation to the Executive Committee and then Board of Directors. Executive officer compensation review is conducted annually by the President/ CEO in conjunction with a formal annual performance review.
Form 990, Part VI, Line 19 Required documents available to the public The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request.
Form 990, Part XI, Line 9 Other changes in net assets or fund balances EQUITY ATTRIBUTABLE TO NON-CONTROLLING INTERESTS - 3487417; Total - 3487417;
FORM 990, PART XII, LINE 2C THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR.
FORM 990, PART VI, LINE 1A AND 1B - VOTING MEMBER INDEPENDENCE Board members are compensated in equal amounts for their service to the organization. In addition, the organization reimburses board members for ordinary and necessary expenses incurred in the performance of their duties.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) (Rev. 1-2025)


Additional Data


Software ID: 25022866
Software Version: 2025v4.1
SCHEDULE R
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047
Open to Public Inspection
Name of the organization
GreenState Credit Union
 
Employer identification number

42-0804594
Part I
Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income


 		(e)
End-of-year assets


 		(f)
Direct controlling
entity
(1) GreenState Financial LLC
2355 Landon Rd
North Liberty,IA52317
27-4335678 		CUSO Activity IA 5,466,177 55,716,545 GreenState Credit Union
 
(2) GreenState Insurance Services LLC
2355 Landon Rd
North Liberty,IA52317
46-3811338 		Insurance Services IA 2,790,557 13,959,326 GreenState Financial
 
(3) GreenState Trust Services
2355 Landon Rd
North Liberty,IA52317
84-3860120 		Trust Services IA 365,877 1,033,487 GreenState Financial
 
(4) GreenState Loan Servicing
2355 Landon Rd
North Liberty,IA52317
88-1134445 		Loan Originations IA 3,410,380 182,250,508 GreenState Financial
 




Part II
Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section


 		(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled entity?
Yes No












For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No
(1) 500-540 Lake Cook Road LLC

2355 Landon Rd
North Liberty,IA52317
 Credit Union Owned Real Estate IA GreenState Credit Union
  		Related -2,615,680 55,359,052   No   Yes    












Part IV
Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.
(a)
Name, address, and EIN of
related organization
 		(b)
Primary activity
 		(c)
Legal
domicile
(state or foreign
country)
 		(d)
Direct controlling
entity
 		(e)
Type of entity
(C corp, S corp,
or trust) 		(f)
Share of total income
 		(g)
Share of end-of-year
assets
 		(h)
Percentage
ownership
 		(i)
Section 512(b)(13) controlled entity?
Yes No












Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 3
Part V
Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................
1a
 
No
b Gift, grant, or capital contribution to related organization(s) ............................
1b
Yes
 
c Gift, grant, or capital contribution from related organization(s) ............................
1c
 
No
d Loans or loan guarantees to or for related organization(s) ............................
1d
 
No
e Loans or loan guarantees by related organization(s) ............................
1e
 
No
f Dividends from related organization(s) ............................
1f
 
No
g Sale of assets to related organization(s) ............................
1g
 
No
h Purchase of assets from related organization(s) ............................
1h
 
No
i Exchange of assets with related organization(s) ............................
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) .......................
1j
 
No
k Lease of facilities, equipment, or other assets from related organization(s) ......................
1k
 
No
l Performance of services or membership or fundraising solicitations for related organization(s) .....................
1l
 
No
m Performance of services or membership or fundraising solicitations by related organization(s) .................
1m
 
No
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................
1n
 
No
o Sharing of paid employees with related organization(s) ............................
1o
 
No
p Reimbursement paid to related organization(s) for expenses ............................
1p
 
No
q Reimbursement paid by related organization(s) for expenses ............................
1q
 
No
r Other transfer of cash or property to related organization(s) ............................
1r
 
No
s Other transfer of cash or property from related organization(s) ............................
1s
 
No
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) 500-540 Lake Cook Road LLC

 B 15,444,095 FAIR MARKET VALUE





Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(f)
Share of total income




 		(g)
Share of
end-of-year
assets 		(h)
Disproprtionate allocations? 		(i)
Code V-UBI
amount in box 20
of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R. See instructions.
Return Reference Explanation
Schedule R (Form 990) (Rev. 1-2025)

Additional Data


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