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Dupaco closing Asbury branch to reduce over-abundance of tri-state locations

DUBUQUE, Iowa—As a result of rapidly changing consumer preferences and to improve service to a greater number of members, Dupaco will close one of six full-service branches in the Dubuque community.

The Dupaco branch at 5865 Saratoga Road in Asbury, Iowa’s last day of service will be Tuesday, Oct. 1, 2024.

The credit union plans to sell the land and buildings, with the intention of helping the city of Asbury address key community initiatives related to housing, retail, entertainment, or office space. The city currently is seeking community input as officials update the city’s comprehensive plan.

Dupaco President/CEO Joe Hearn said the credit union will have several months to help members prepare for and adjust to the coming changes.

“The relatively few members who frequent the Asbury branch already can access similar services at a Dupaco full-service branch at Pennsylvania Avenue and Northwest Arterial—a short five-minutes drive away,” said Hearn. “This move is a prudent reallocation of members’ money from areas where we have service saturation to services our members increasingly demand.”

The move will result in no direct reduction in the number of Dupaco employees, allowing natural attrition to right-size the credit union’s workforce. “Those employees will move to the Dupaco Voices Building and be absorbed into the other Dubuque branches,” said Hearn.

Dupaco opened the Asbury branch in 2003, after purchasing the land and building which previously contained a furniture store. The credit union purchased the property with the intention to provide space for growth and operational support.

“However, after acquiring the Pennsylvania Avenue facility in 2010 and the completion of the Dupaco Voices operations center in 2020, we have ample space to accommodate our growing workforce and those currently housed at Asbury,” said Hearn.

Of Dupaco’s 23 full-service branches spanning all of Iowa, southern Wisconsin, and northwest Illinois, the communities of Dubuque and Asbury currently are served by a tight cluster of six 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. 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.


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 165,000 with assets exceeding $3.2 billion. It has over 650 employees and 22 branch office locations. Dupaco is a Community Development Financial Institution (CDFI). 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