DUBUQUE, Iowa—As the evolution of digital banking options like online and mobile banking continue to change how members interact with their financial institution, a decreasing number of members are visiting branches. After much consideration, Dupaco has made the decision not to renew its lease at the financial cooperatives branch inside the South Locust St. Hy-Vee store in Dubuque.
This location will close during the first quarter of 2026. All Dupaco Hy-Vee branch employees will remain with the credit union, transitioning to other branches.
Dupaco President/CEO Joe Hearn said the credit union will have several months to help members prepare for and adjust to the coming changes.
“Members who frequent the Hy-Vee branch already can access the same services at Dupaco full-service branches at Key West and Sycamore Street,” said Hearn. Both branches are about two miles from Dupaco’s Hy-Vee branch and provide a branch environment that is better designed to support our members’ needs—especially members with more complex financial needs.
“As a member-owned cooperative, Dupaco has a fiscal responsibility to use the cooperatives resources wisely. These moves are a prudent reallocation of credit union resources to develop and support services our members increasingly demand,” he said.
Of Dupaco’s 23 full-service branches spanning all of Iowa, southern Wisconsin, and northwest Illinois, the Dubuque community is currently served by a tight cluster of five full-service Dupaco branches.
Hearn said in Dupaco’s more than 75 years of serving the Dubuque community, Dupaco members’ branch usage has dramatically changed in the last several years—a result of changing consumer preferences and advances in technology.
“Visiting the credit union branch was once considered an errand, like going to the grocery store, post office, or dry cleaner. Members needed to visit their financial institution to deposit their checks, withdraw funds and check their account balances. At that time, a branch in every part of town was necessary,” he said. “Now the branch is a destination for deeper conversations about finances and problem-solving.”
Hearn reminded that amongst change, the credit union’s purpose and structure remain constant.
“Since Dupaco Credit Union’s founding by ten meat-packers in 1948, much has changed, including financial products and services, technology, and consumer behavior,” he said. “The one unwavering constant in Dupaco’s 75-year history is the credit union’s member-owned cooperative structure with a purpose to improve the economic and social condition of our members.”
Overall, the number of physical branches in the United States continues to decline. In 2009, the last year that physical locations increased, there were nearly 100,000 branches across the U.S. There are fewer than 80,000 today, according to S&P Global Market Intelligence data.
“Dupaco member transactional trends mirror the U.S. financial services industry: Consumers are less frequently visiting physical branches for transactional services,” added Hearn.
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ABOUT DUPACO COMMUNITY CREDIT UNION:
Dupaco Community Credit Union is a not-for-profit, member-owned financial cooperative headquartered in Dubuque, Iowa. It is dedicated to the financial well-being of its members, and specializes in personalized financial counseling, money advice and education. It offers savings, loans, investments, insurance and wealth management products for individuals and businesses. Dupaco serves residents in 118 counties throughout Iowa, northwest Illinois and southwest Wisconsin. Founded in 1948 by 10 Dubuque Packing Company employees, membership has grown to more than 174,000 with assets exceeding $3.6 billion. It has over 600 employees and 23 branch office locations. It is a Forbes Best-in-State Credit Union, Forbes America’s Best Small Employer and a Des Moines Register Top Workplace. Learn more at www.dupaco.com/newsroom.
