GreenState said it is focusing on addressing Iowa's racial homeownership gap because it is the nation's sixth largest in the U.S. That finding came from a 2019 report by Colin Gordon, a University of Iowa professor who has researched and written extensively about the history of public policy and political economy.

According to Gordon's research report, progress on racial equity has slowed and stalled on many fronts.

"Nowhere is this more starkly evident than in the 12 states of the Midwest region, where racial disparities in economic opportunity and economic outcomes are wider than they are in other regions, and policy interventions designed to close those gaps are meager," Gordon wrote. The report, "Race in the Heartland: Equity, Opportunity and Public Policy in the Midwest," examined the roots of those racial disparities, documented their extent and impact, and proposed a range of policy solutions.

"Since George Floyd's death last summer, our organization has been reflecting on continued racial inequities in the communities we serve and the role we can play to build a better society. Our 'Community Investment Statement' sets a goal of investing $500 million over the next decade in helping to close Iowa's racial homeownership gap," Jeff Disterhoft, GreenState's president/CEO, said. "To be sure, we will continue to lend to Iowans of all races and financial backgrounds. While we continue our focus on creating value for all GreenState members, we recognize that as Iowa's largest credit union, we have a special responsibility to address racial inequities head on."