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For the third year in a row, Forbes named Dupaco Community Credit Union one of the top credit unions in America.
Forbes’ third annual Best-In-State Banks and Credit Unions looks at which financial institutions have the most satisfied consumers.
“This recognition simply reaffirms our staff consistently delivers on the Dupaco brand promise to improve each member’s financial position and uplift the communities we serve,” said Dupaco President and CEO Joe Hearn.
How Forbes ranked financials
Forbes partnered with market research firm Statista to survey nearly 25,000 U.S. consumers about their opinions on current and former financial relationships.
Banks and credit unions were rated on overall recommendations and satisfaction, as well as:
- Terms and conditions
- Branch services
- Digital services
- Financial advice
Of the more than 5,200 credit unions nationwide, just 3.5% were recognized in Forbes’ June 25 report. Only institutions receiving the highest ratings, including three credit unions in Iowa, were awarded the title “Best-In-State.”
Nationwide financial institutions with branches in at least 15 states were excluded from the final rankings, Forbes said.
Members typically more satisfied
Credit unions generally earned higher satisfaction ratings than banks.
On a scale of one to five, banking institutions averaged 4.2, with credit unions averaging 4.5, according to the report.
“Members-only credit unions typically have lower fees and offer better interest rates than traditional banks, and the nonprofit model where the members are the owners puts the customer first, resulting in higher levels of satisfaction,” the Forbes report said.