MONEY Magazine has come out with their top banks in every state and in Iowa's case the winner isn't a bank, but an Iowa City-based credit union.

The University of Iowa Community Credit Union has been named in the Hawkeye state. Why? Here's what MONEY says:

There's no monthly fee on this credit union's basic account, and you can easily avoid the outside ATM fee: All accounts have access to more than 200 ATMs in Iowa through the Allpoint network, and if you live outside Johnson County, you can get seven free out-of-network ATM transactions per month. The 0.1% interest rate on basic savings topped the other banks MONEY evaluated in Iowa.

Clearly, plenty of Iowans agree. The University of Iowa Community Credit Union's website says they're Iowa's largest credit union with 165,000 members and $4.5 in assets. Next year, they celebrate their 80th year in business.

The only thing that doesn't impress MONEY is that the UICCU's savings account only lets you have three free withdrawals per month. After that, each one costs you a dollar. I certainly don't think that's a deal breaker. After all, when was the last time you wanted to make multiple withdrawals from your savings account in a given month. If you need to do that, you have either really bad luck or bad money management skills.

You're not going to get rich on interest from that savings account, or any other one bank or credit union, that's for sure. The 0.1 percent interest rate is just like a giant megaphone telling you to invest in your future. I guess that's another blog. Just remember that disclaimer when it comes to stock market investments: Past performance does not guarantee future results.

[MONEY magazine and UICCU]

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