Dupaco continues to pursue and fulfill its original mission to serve and enrich the lives of its members. Here are the milestones that helped us evolve into the community credit union we are today.
Dupaco is founded
With $5 each and a loan for $123.20 from their local union, ten Dubuque Packing Company employees start their own credit union. They borrow six letters from their employer’s name (Dubuque Packing Company) and call it Dupaco.
State of Iowa chartered
Dupaco Credit Union is chartered by the State of Iowa on July 17, 1948. The original Articles of Incorporation are signed by Dupaco founding members Marie B. Haupert, Melvin Schumacher, Alfred Carroll, R.W. Reavell, Larry Vize, William Moore, Ronald Nennig, Marjorie Alm, Nellie Tucker and Manley Alm.
Began funding real estate loans
Dupaco borrows $5,000 from the Iowa Credit Union League and uses the money to begin funding real estate loans.
Renamed Dupaco Employees Credit Union
Dupaco bylaws are amended to change the name from Dupaco Credit Union to Dupaco Employees Credit Union.
Systematic savings is born
An agreement is reached with the Dubuque Packing Company enabling employees to automatically deposit up to $3 per-pay-period into their Dupaco Share Savings accounts — systematic savings is born. Operations move to 760 ½ East 16th Street, Dubuque, Iowa. Ed V. Neuhaus is appointed full-time Treasurer.
Introduced Christmas Club accounts
Christmas Club accounts are introduced to promote thrift and assist members in saving for holiday expenses.
First Iowa credit union to construct office building
Dupaco becomes the first Iowa credit union to construct its own office building, located at 1465 Sycamore Street in Dubuque. Following resignation of Ed Neuhaus, Keith W. Sheehy is hired as Treasurer/Manager.
Quality-Bilt Credit Union merges with Dupaco, Money Orders introduced
The membership of Quality-Bilt Credit Union merges with Dupaco. That same year, Dupaco expands its services to include money orders.
Dupaco is among the nation’s first credit unions to install computerized bookkeeping
Dupaco is among the nation’s first credit unions to install a computerized bookkeeping system. Passbooks are eliminated in favor of computer-generated statement mailings. And Bob Hoefer is hired as the system’s primary programmer and operator.
Enabled multiple savings accounts option
To further promote mindful saving habits, Dupaco enables members to create multiple savings accounts under a single member number. Membership eligibility is extended to in-laws and grandchildren of primary members.
Membership eligibility extended
Membership eligibility is extended to the sons- and daughters-in-law of primary members.
Bob Hoefer is named President
Treasurer/Manager Keith Sheehy resigns and is replaced by Bill Fahey. Bob Hoefer is named President and appointed to the Dupaco Board of Directors.
Open-end credit is introduced, Membership eligibility expanded
Open-end credit is introduced, and membership eligibility is expanded to include any person related to a primary member by blood, marriage, guardianship or adoption.
Services extended to all Dubuque Packing Company employees
Dupaco services are extended to Dubuque Packing Company employees at all nine of its plant locations nationwide.
Share draft checking is introduced
Membership benefits offered to employer groups
Authorized employer groups are granted the ability to extend Dupaco membership and payroll deduction benefits to their employees.
Online system added to allow live balance access
Dupaco joins the Iowa Clearing House Association (IACHA) for the clearing of share drafts, federal payments and net check deposits. An online computer terminal system is also added to allow live balance access.
Dubuque’s Hillcrest Road branch opens, Student loan program begins
A new office opens at Hillcrest and JFK Road in Dubuque. Dupaco begins participating in the Iowa Student Loan program.
Share account minimum changes from $5 to $25
Par value on the member share account changes from $5 to $25. An in-house data-processing system is installed. Following resignation of Bill Fahey, Bob Hoefer is appointed Manager and President.
New debit card introduced, Certificates expand
Dupaco introduces its new debit card program and expands its lineup of money market certificates.
Renamed Dupaco Credit Union
Following the closure of the Dubuque Packing Company, Dupaco Employees Credit Union is renamed Dupaco Credit Union.
Membership expanded to food industry employees
Dupaco membership eligibility is expanded to include employees of any food-related industry in Dubuque County.
Financial planning services are introduced
Discount brokerage and financial planning services are introduced. Dupaco membership eligibility is extended to anyone residing or working in Dubuque, Jackson and Delaware Counties in Iowa.
Renamed Dupaco Community Credit Union
Bylaws are amended to change name to Dupaco Community Credit Union. An in-house credit card processing system is installed.
Dupaco introduces business, home equity loan
Membership eligibility expands, Visa Classic credit cards made available
The Presto Telephone Teller service debuts. Field of membership eligibility is expanded to include persons living or employed in Jo Daviess County, Illinois, and Grant County, Wisconsin. Visa® Classic credit cards made available.
Dyersville branch opens, New programs introduced
A new Dupaco branch opens on Highway 136 in Dyersville, Iowa. The Annual Tri-State-Area College Scholarship Program is instituted, and the Dupaco Prime Time Club is introduced.
Real Estate Lending Department established
Plan America® Financial Management Services are made available to members. Dupaco’s full-service Real Estate Lending Department is established. Rex Wellman is named Director Emeritus.
Saturday branch hours are implemented
Construction is completed on a new six-lane drive-up facility at the Hillcrest location and Saturday member service hours are implemented.
Dubuque’s Hillcrest branch expands office space
A major expansion is completed at Dupaco’s Hillcrest office.
Branch opens inside Dubuque’s Eagle Country Market
A new branch office location opens inside the Eagle Country Market at 300 South Locust Street in Dubuque.
7 year adjustable-rate mortgage is introduced
Dupaco’s seven-year adjustable-rate mortgage program is introduced. Charter member Ronald Nennig is named Honorary Board Member.
Daily savings dividends
Dupaco begins paying daily dividends on savings accounts.
Garage sale launches, Dupaco logo changes
The Dupaco Community-Wide Garage Sale is launched. And a new corporate logo makes its debut.
Share draft package, Visa Gold credit cards introduced
A share draft checking package — including MoneyCard and Presto telephone access — is introduced, along with risk-based consumer loan pricing, a 24-Hour Loan Line and Visa Gold credit cards.
Dyersville branch relocates to new facility
Dyersville branch operations are relocated to a newly constructed facility at 807 Ninth Street SE.
Dupaco.com is introduced
Dupaco makes its official online debut with the introduction of Dupaco.com.
Online Banking is introduced
New financial planning services
Dupaco Financial Services, Inc., is founded.
Dubuque branch operations move into new facility
Sycamore branch operations move into newly constructed facility dedicated in the name of Director Donald R. Meyers.
Dupaco receives philanthropic award
Dupaco receives the Outstanding Philanthropic Organization award from the Eastern Iowa Chapter of the National Society of Fund Raising Executives (NSFRE).
Dubuque’s Key West branch opens
A new Key West branch location opens at 2245 Flint Hill Drive in Dubuque. Prime Cut home equity and Mini- Max loan products are introduced.
Kids Club makes debut
The Dupaco Positive Action Club for Kids (DoPack) makes its debut.
Membership extended to additional counties
Membership eligibility is extended to anyone living or working in Allamakee, Buchanan, Cedar, Clayton, Clinton, Fayette, Jones, Linn, Scott, and Winneshiek Counties in Iowa; Crawford, Iowa, and Lafayette Counties in Wisconsin; and Carroll, Rock Island, and Whiteside Counties in Illinois.
Expressway Indirect Lending Program is introduced
The new Expressway Indirect Lending Program enables members to obtain Dupaco financing on-site at area auto dealer partners.
Dupaco Board of Director member honored
Dupaco Board of Directors member Melvin G. Kiebel is honored for his 40+ years of service.
Galena branch opens
A new branch office opens at 11375 Oldenburg Lane in Galena, Illinois.
First Community Trust alliance begins
A full line of trust products and services is offered to members via a new alliance with First Community Trust, N.A.
Dupaco joins ATM network, 24-hour online loan approval introduced
Dupaco joins the Privileged Status surcharge-free ATM network. 24-hour online loan approval is introduced.
Platteville branch opens
A new branch office opens at 490 East U.S. Highway 151, Suite D, in Platteville, Wisconsin.
Dupaco Board of Director member honored
David R. Hansel honored for 30+ years as a Dupaco Board of Directors member.
eStatements, eNotifiers, and open-end lending are introduced
Online banking capabilities are enhanced with the introduction of electronic statements, account alerts and check images. PowerLine open-end lending is introduced.
Dubuque’s Saratoga Road branch opens
Opened new branch office and drive-up facility at 5865 Saratoga Road in Asbury, Iowa.
New products, services introduced
Introduced Cooperative Loan Giveback, Pick-A-Payment loan program and long-term care insurance.
Dupaco joins shared branching network, Credit History Lessons are born
Dupaco joins the Credit Union Service Corporation nationwide shared branching network, and introduces Online Bill Pay, Credit History Lessons and the Homemade Mortgage Payment Plan.
Stockton Employees Credit Union merges with Dupaco
A merger with the former Stockton Employees Credit Union in Stockton, Illinois welcomes 325 new members to Dupaco. Field of membership eligibility expanded to include persons living or working in Stephenson County, Illinois.
Dupaco recognized as Community Credit Union of the Year
Dupaco is recognized with the National Association of Community Credit Unions’ inaugural Community Credit Union of the Year Award.
Community Plus Credit Union merges with Dupaco
A merger with Community Plus Credit Union results in 4,300 new Dupaco members and additional branch locations at 808 Wilson Avenue SW in Cedar Rapids, Iowa, and 1200 West Main Street in Manchester, Iowa. Membership eligibility is extended to persons living or working in Benton and Johnson counties in Iowa.
Bob Hoefer inducted into Hall of Fame, Dupaco receives award
Bob Hoefer, President and CEO, is inducted into Credit Union Executives Society (CUES) Hall of Fame. Dupaco receives the CUNA Mutual Group’s prestigious Roy F. Bergengren Award for High Achievement.
Free Checking, 1st Rate Checking, and Health Savings Accounts are introduced
Dupaco introduces Free Checking, 1st Rate Interest-Bearing Checking, and Health Savings Accounts. It also becomes the first financial institution in the tri-state area to introduce 24/7 online mortgage applications.
Dupaco Insurance Services is formed, Online Account Opening introduced
Dupaco Insurance Services is formed. 24/7 Online Account Opening is made available via Dupaco.com.
Dubuque’s Hy-Vee branch opens
A new branch office—featuring Sunday hours—opens in Hy-Vee at 400 South Locust Street in Dubuque.
Rountree Credit Union merges with Dupaco
A merger with the former Rountree Credit Union in Platteville, Wisconsin helps Dupaco surpass the 50,000 member mark.
New branches open in Cedar Rapids and Manchester
Additional branch locations open at 808 Wilson Avenue SW in Cedar Rapids, Iowa, and 1200 West Main Street in Manchester, Iowa. Our Hillcrest, Hy-Vee, Platteville and Cedar Rapids locations become CUSN recognized Credit Union Service Centers.
60th Anniversary, Money Makeovers are born
Dupaco celebrates its 60th anniversary of serving members. Free Money Makeovers are introduced.
Dupaco earns Performance Award
Dupaco earns Raddon Financial Group’s Crystal Performance Award recognizing growth, income, efficiency and margin management.
Shine Online Banking makes its debut
Dubuque’s Pennsylvania Ave. and Cedar Rapids’ 1st Ave. branches open
Two full-service branches are added: one in Dubuque, at the corner of Pennsylvania Avenue and the Northwest Arterial, the other in Cedar Rapids at 1st Avenue and 35th Street Drive SE. A new, state-of-the-art system internal processing system is implemented.
Named one of top five Iowa employers
Dupaco is named one of the top five mid-size employers in Iowa by the Des Moines Register. President/CEO Bob Hoefer named 2011 Credit Union Executives Society’s Outstanding Executive of the Year.
Shine Mobile is introduced
Bob Hoefer retires, Joe Hearn appointed President/CEO
After more than 47 years of service, Bob Hoefer, Dupaco President/CEO, retires. Joseph Hearn, 25-year Dupaco veteran, is appointed the credit union’s new President/CEO.
Corporate offices relocated to Pennsylvania Ave.
Dupaco corporate offices are relocated to 3999 Pennsylvania Ave. in Dubuque.
Mobile deposit is launched
Mobile deposit is launched, allowing members to deposit checks by taking a picture with their mobile device.
Iowa Community Credit Union merges with Dupaco
Dupaco merges with Iowa Community Credit Union, resulting in overnight growth of 10,000 members and six additional branch locations.
Peosta Learning Lab opens with Live Video Teller
Dupaco opens its 19th branch in Peosta, Iowa. The Peosta Learning Lab provides a fresh concept and technology that underpins the credit union’s mission to improve each member’s financial position. Among its many innovations is the credit union’s first Live Video Teller.
Dupaco launches Thank Use
Dupaco launches Thank Use and rewards over 45,000 participating members with shares of more $2.85 million.
Dupaco opens a new Learning Lab branch on San Marnan Dr. in Waterloo, Iowa.
Membership eligibility expanded
Field of membership eligibility is expanded to include persons living or working in Adair, Boone, Buena Vista, Cass, Cherokee, Chickasaw, Clay, Dallas, Dickenson, Emmett, Floyd, Franklin, Hamilton, Hancock, Hardin, Harrison, Howard, Humboldt, Ida, Jasper, Keokuk, Kossuth, Lyon, Madison, Mahaska, Marion, Marshall, Mitchell, Monona, O’Brien, Osceola, Palo Alto, Plymouth, Pocahontas, Polk, Pottawattamie, Poweshiek, Sioux, Story, Warren, Webster, Winnebago, Woodbury, Worth and Wright Counties in Iowa.
Rewards Visa credit card, Launchpad savings introduced
Dupaco introduces Rewards Visa credit cards and Launchpad savings accounts.
Programs introduced to help high school students explore their options, pay for college
Existing undergraduate student loan options are enhanced and refinance options are added. “Life After Graduation” seminar events shed light on the student debt crisis. The R.W. Hoefer Foundation awards $20,000 in scholarship money to first-time, first-year college students.
The Dupaco Great Credit Race takes place
The Great Credit Race is held from May through October, helping it participants to build and bolster their credit scores.
Waterloo’s Mullan Avenue branch makeover
The Mullan Avenue branch in Waterloo is renovated with a fresh look that mirrors the San Marnan Learning Lab.
Dupaco surpasses 100,000 members
While Dupaco’s membership has grown exponentially, the credit union’s not-for- profit mission and structure remain the same.
Thank Use rewards members
Thank Use rewards nearly 49,000 participating members with shares of more than $3.17 million.
Dupaco celebrates 70 years of service to its members. To honor this celebration, Dupaco partners with 7Hills Brewing Co., in Dubuque, Iowa, to craft Brewpaco, a small-batch seasonal Belgian Whitbier.
Marion Learning Lab branch opens, Live Video Teller at NewBo in Cedar Rapids
A new Learning Lab branch is constructed on Carlson Way, in Marion, Iowa and a Live Video Teller machine is installed in the NewBo City Market, delivering convenient member services to the downtown Cedar Rapids area.
ChangeUp Savings is introduced
Shine Online Banking receives a fresh look and several new features; including advanced fraud protection, a simplified loan application, and ChangeUp Savings – which rolls debit purchases up to the nearest dollar and puts the “spare change” into the member’s savings account.
Members earn more than $2.6 million in Thank Use
By simply using their credit union’s products and services, participants in Dupaco’s annual Thank Use campaign earn givebacks totaling more $2.6 million.