Dupaco Credit Union was officially charted on July 17, 1948, by its founding members Marie Houpert, Melvin Schumacher, Alfred Carroll, R.W Reavell, Larry Vize, William Moore, Ronald Nennig, Marjorie Alm, Nellie Tucker and Manley Alm. These ten employees created Dupaco on the principles of thrift, access to affordable credit and the opportunity for its members to own and control their money on a democratic basis to improve their co-workers economic and social condition.
In 1958 the financial cooperative became the first Iowa credit union to construct its own office building, located at 1465 Sycamore Street in Dubuque. That branch remains today and is one of 22 in Dupaco’s network of branches.
During the 1980’s, with the closure of the Dubuque Packing Company, the credit union expanded its field of membership to those residing or working in Dubuque, Jackson, and Delaware Counties in Iowa. Following those years, Dupaco’s membership continued to expand throughout Iowa, southwest Wisconsin and northwest Illinois.
Now, certified as a Community Development Financial Institution (CDFI), Dupaco and its nearly 700 employees are proud to serve over 158,000 members throughout all 50 states, District of Columbia, U.S. Virgin Islands, and 28 other countries, according to Dupaco President/CEO Joe Hearn.
Each year, Dupaco members vote for their volunteer board of directors. After 75 years, the credit union remains a member-owned, democratically-controlled cooperative. All Dupaco members have an equal say in their credit union, where each member has one vote for their volunteer board of directors, no matter how much money they have in deposits or loans at Dupaco.