PAGE | 2 | Dupaco Opens 2nd Learning Lab Location PAGE | 7 | Immigrant Builds Credit, His American Dream PAGE | 3 | Dupaco Unveils Brighter Way to Bank Online PAGE | 8 | Dupaco Helps Member Launch Local Business PAGE | 4 | Thank You for Using Your Credit Union! PAGE | 9 | Collaboration Helps Member Buy 1st Home Dupaco’s Collin Olson visits with Dupaco member Ceonte Brown on Oct. 20 at the San Marnan Learning Lab in Waterloo, Iowa, during the credit union’s PAGE | 5 | Know Better, Do Better PAGE | 10 | Community is Our Middle Name: A Chronology Thank Use payout celebration. Although the Thank Use campaign has ended, you are welcome to learn, earn and save any time at Dupaco. (G. Brown photo) ANNUAL REPORT 2016 EDITION DUPACO COMMUNITY CREDIT UNION THE FINANCIAL HOME YOU OWN | ESTABLISHED 1948 | ACCOUNTS FEDERALLY INSURED BY NCUA You Are Welcome To Learn, Earn and Save at Dupaco Any Time DUBUQUE, Iowa—When their credit union’s services— Boever earned $110 in Thank Jolene Boever likes something, loans, savings, checking, credit Use cash. The payout was auto- she lets you know it. card and e-statements. matically deposited into partic- That’s why the Dubuque “I’m a cashier, so when cus- ipating members’ savings accounts woman says she’s a “walking tomers used their Dupaco card on a day that celebrates the billboard” for her financial to pay, I’d say, ‘Check your cooperative difference— cooperative. She loves to tell International Credit Union Day, others about how Dupaco Oct. 20. Community Credit Union can “They’re always there for “My $110 meant a lot to me,” help them—just as the co-op me if I get myself into a Boever said. “It came at a perfect has been there for her for nearly time, right before Christmas, SCENE IN: 2016 pickle, which everyone Jolene Boever (left) visits with Dupaco’s Kadie Donovan at the Hillcrest Road branch in Dubuque, Iowa. As 40 years. and it was well needed at that a member of Dupaco for nearly 40 years, Boever earned $110 during Dupaco’s Thank Use campaign. The “If I like something, I’m going does from time to time.” time. I had some gifts I didn’t credit union has been there to help Boever through every stage of her life. (M. Blondin/Dupaco photo) to say it,” Boever said. “That’s think I would be able to swing, the Greek in me.” — Jolene Boever, longtime and that helped me buy them.” divorce, homeownership, home this going for my kids if they Most recently, Boever found Dupaco member Boever was encouraged to repairs, debt consolidation and would like to keep the house,” opportunities to spread the join Dupaco by her late father, so much more. word about Dupaco’s Thank Ken Palm, when she was a young “My dad and Number of members who joined Dupaco Use campaign. Thank Use, and find out how adult. She felt connected to my uncle built in 2016. Dupaco provides 45-plus During the 2016 campaign, much you get back,’” Boever the credit union immediately, my home for minutes of one-on-one financial more than 45,000 members said. “If they didn’t know how and she hasn’t looked back. their mother. 11,622 education to each new member. collected $2.85 million-plus in to check it, I would give them Dupaco has been by her side It’s not a Thank Use cash for their member- Dupaco’s number, because I can through all the ups and downs palace, but it’s ship longevity and for using rattle it right off.” of life—starting over after my home. Now I have to keep Boever said. “I’m trying to make it, and I’m doing it. And Dupaco has been there to help me.” Boever said her credit union always has her best interest More than Number of members Total members in mind. who have been with who participated 45,000 10,640 “They are almost like family Dupaco 20+ years to me,” she said. “They’re always there for me if I get Number of states More than myself into a pickle, which where participating 45 Total Thank Use Plus 5 other countries: members reside everyone does from time to paid to members $2.85 Canada, England, Greece, million Israel and Switzerland time. They are there for me to help me find a solution.” Highest total Total number of combined Thank Use paid to membership years 568,012 a single member $345 dupaco.com/ThankUse Welcome to the Financial Home You Own Credit Union or Bank: What’s the Difference? On behalf of the Dupaco Community Credit Union Board of Directors Dupaco is so not a bank. We’re a “financial cooperative.” The more we do for and staff, I’m delighted to present your credit union’s 2016 annual each member, the better all our members do! When we help our members save report. It highlights Dupaco’s pursuit of fulfilling our mission: money—with a savings account, lower loan rates, fewer service fees, low-cost To improve the financial lives of our more insurance, the list goes on—we help grow the whole credit union. than 95,000 members, each of whom is an owner of the credit union. Joe Hearn, President and CEO Credit Union Bank Organization Not-for-profit cooperative For-profit corporation Primary objective Meet member/owner needs Maximize profit Ownership All members who are, by Stockholders who may or may not definition, users of services be customers or users of services Directors Volunteers Paid directors Decision-making Member controlled; one vote per Only stockholders vote; one vote member (each member/owner per share of stock (more stock has the same power) means more voting power) Distribution of Dividends issued to members Dividends issued to net income and used for capital development, stockholders only additional locations, equipment, etc. for members Community links Owners/leaders reside or have Owners/leaders may live an interest in the community anywhere in the world; headquarters could be anywhere in the U.S. Rates/products Offer better overall rates and Rates and fees may not be lower fees due to the nature favorable because of for- of the organization and its profit status of banks dividend distribution Generation of capital Generated only through Generated through income income stream stream and/or issuance of stock Who benefits Members/owners Stockholders Taxes Yes. Property, sales, employer- Yes. Property, sales, employer- related, monies and credits tax related and income on reserves in Iowa SCENE IN: 2016 Deposit insurance National Credit Union Federal Deposit Insurance Dupaco President and CEO Joe Hearn visits with members during the credit union’s 67th Annual Meeting of the Administration (NCUA) Corporation (FDIC) Membership in Peosta, Iowa, on Feb. 28. (D. Klavitter/Dupaco photo) 2 2016 ANNUAL REPORT SCENE IN: 2016 BOARD OF DIRECTORS Following the annual meeting, Dupaco board members Randy Skemp (from left), Jeff Gonner, Steve Chapman and Ron Meyers take the oath of office. (D. Klavitter/Dupaco photo) Renee Poppe Chair of the Board Vice President of Customer Service, Medline Industries, Dubuque, Iowa Bob Wethal Vice Chair Vice President of Patient Care Services and Chief Nursing Officer, Mercy Medical Center, Dubuque, Iowa Board Leadership Recognized DUBUQUE, Iowa— • Renee Poppe, Chair of the Board Dupaco Community Credit Our Vision • Bob Wethal, Vice Chair * Denise Dolan CCUV Union would like to recog- To be our members’ lifetime financial home. • Denise Dolan, Secretary Secretary nize the individuals who • Steve Chapman, Treasurer, Chair of Investment/Asset County Auditor, maintained leadership Our Mission Liability Management and Salary Savings Plan Over- Dubuque County, roles on its board of To improve our members’ financial sight Committees Dubuque, Iowa directors during 2016. position and build valued relationships by • Jeff Gonner, Chair of Audit Committee Since their election delivering personalized financial advice, • Ron Meyers, Chair of Marketing Committee or appointment at the products and services. • Ron Mussehl, Chair of Business Lending and Nomination 67th Annual Meeting in Committees February 2016, these volunteer directors have contributed • Andy Schroeder, Chair of Credit/Delinquent Loan Committee significant time and expertise to the benefit of the credit • Randy Skemp, Chair of Personnel Committee J. Stephen Chapman union and its members: dupaco.com/board Treasurer Vice President & Chief Operating Officer, Auxiant, Madison, Wis., and Dupaco Opens 2nd Learning Lab Location Cedar Rapids, Iowa WATERLOO, Iowa—Designed to deliver innovative ways for full-service transactions. of serving its members, Dupaco Community Credit Union’s • A collaboration station to explore money matters with newest branch opened in August 2016. on-site staff. Members and guests celebrated the opening of the San • Free personalized financial coaching sessions through Jeff Gonner Marnan Learning Lab, located at 1946 Schukei Road in Money Makeovers and Credit History Lessons. Director Waterloo, during a ribbon-cutting ceremony and open • Technology tables to experiment with mobile deposit, Chief Financial house Sept. 28. set up eNotifiers or learn about mobile payments. Officer, Medical Modeled after the Dupaco Learning Lab in Peosta, the While the branch is new, Dupaco’s methodology remains Associates Clinic & Health Plans, new full-service branch was designed to explore and test tried and true—delivering personalized financial advice Dubuque, Iowa innovative ways of helping members understand money to improve its members’ financial positions. and find financial solutions. It features: • Video-teller kiosks operated by remote Dupaco staff dupaco.com/locations Ron Meyers Director Principal, Wahlert Catholic High School, Dubuque, Iowa Ron Mussehl Director Owner, Ron’s BP Convenience Stores, Dubuque, Iowa Andy Schroeder SCENE IN: 2016 Greater Cedar Valley Chamber of Commerce representatives join Dupaco board, staff, members and community partners in a ribbon-cutting ceremony at the San Marnan Learning Lab in Director Waterloo, Iowa, Sept.