Industry Celebrates 100 Years of Impact at Iowa State Fair
Governor Kim Reynolds joined credit union leaders from across the state at the Iowa State Fair today and proclaimed the day as “Credit Union Day in Iowa.”
The Governor’s proclamation reads:
- WHEREAS, credit unions are not-for-profit financial cooperatives, democratically owned and operated by their members, and founded on the principle of people working together to improve their financial wellbeing; and
- WHEREAS, 2025 marks the 100th anniversary of the Iowa Credit Union Act and the start of Iowa credit unions, which have played a vital role in strengthening families, small businesses, and communities across our state since the establishment; and
- WHEREAS, over the past century, Iowa credit unions have embraced the “people helping people” philosophy by offering fair, accessible, and affordable financial services, investing in local communities, providing financial education, and supporting those in need; and
- WHEREAS, Iowa’s credit unions have grown to serve more than 1.5 million members at 68 institutions statewide, providing a $2.7 billion economic impact to Iowa annually through direct and indirect economic output. The industry directly employs 4,825 Iowans, and supports an average of 10,000 jobs per year; and
- WHEREAS, Iowa credit unions have led initiatives to expand financial access in rural and underserved areas, offer free financial literacy programs, support community development, and champion financial inclusion for Iowans of all backgrounds; and
- WHEREAS, the Iowa credit union movement joins with more than 411 million members in 104 countries around the world in promoting financial empowerment, cooperative values, and community service through strong local, state, national, and international partnerships;
With legislation signed by Iowa Governor John Hammill in 1925 establishing the Iowa Credit Union Act, the industry is celebrating 100 years of impact in 2025. The founding of these member-owned, financial cooperatives introduced a new era that would transform the financial landscape of the state.
“Today, as we gather at the Iowa State Fair, there is no better place to celebrate the cooperative spirit and the simple idea that people can improve their financial lives by working together,” said Murray Williams, President and CEO of the Iowa Credit Union League. “We thank Governor Kim Reynolds for proclaiming today as Credit Union Day in Iowa, helping to highlight the spirit of the credit union movement and recognizing the importance of a local and trusted financial partner for Iowans.”
Throughout Iowa, credit unions provide a $2.7 billion economic impact to Iowa annually through direct, indirect, and induced economic output. The industry employs 4,825 Iowans directly, and supports an average of 10,000 jobs per year. Iowa credit unions also account for nearly two thirds of the car loans and one third of the home loans made in our state.