The Invest in Iowa program is an innovative and efficient way for the state treasurer to place deposits in Iowa financial institutions. Using an online auction process, approved Iowa financial institutions can place electronic bids on the available funds. Auctions for six-month certificates of deposits occur on the second Tuesday of January, April, July and October. Special auctions for one-year certificates of deposit occur in February and August.
Prior to the auctions, financial institutions must register by visiting BidIowa.com. A financial institution only needs to register once. On the day of the auction, log into BidIowa.com to begin the bidding process. Minimum bid rates along with specific bid limits per financial institution are established by the state treasurer prior to each auction.
Funds are credited by ACH into the financial institution’s designated account on the following Thursday. At maturity, the principal plus interest are debited from the same account. The CDs are considered public funds for reporting purposes. For questions about the program, please contact email@example.com.