New Teacher Loan Program

Bank Iowa seeks to offer support to help new teachers acclimate to their new community school district. The New Teacher Loan product is specifically tailored to assist educators during their assimilation into their new communities. The program aims to relieve some of the burdens educators face as they adjust to a new community, which will be key in them bringing their best to the classroom.

Features of the The New Teacher Loan Program include:

• Short term loan at a 0% interest rate if automatic loan payments are made.  If automatic payments are not established, Bank Iowa’s current loan interest rates will apply.
• Maximum loan amount is $2,500.
• This is a one-time loan.

A good teacher can be an integral part of any community, large or small. Here at Bank Iowa, we fully recognize this, and we would like to uplift the educators of our communities as they prepare tomorrow’s leaders. Many of us can quickly think back to an educator who inspired us and helped shape who we are now, and Bank Iowa would love to be able to give back to teachers as they grow important pieces that will shape the future of our communities.

To qualify for the New Teacher Loan:

• A new teacher to a local school district in Iowa, public or private, is eligible.  Teacher does not need to be recently graduated, just new to the school district.
• Teacher must present their contract from the school to prove eligibility.
• Teacher must open a Bank Iowa deposit account and have their paycheck direct deposited.

Through the New Teacher Loan Program, we believe that our purpose of empowering people, inspiring success and fostering growth can continue to be more fully realized. We have always strived to empower communities and offer the tools necessary to succeed, so offering dedicated help to educators new to their community seemed like a natural and logical next step. What is the true root of a community if not for our schools? Education is integral to each of our lives, and we want to invest in it accordingly. It is an increasingly important facet of each of the communities we love and serve.

Program details current as of February 15, 2024 and subject to change without notice.