A 2022 independent analysis performed by renowned economists at ECONorthwest finds that Arizona’s credit unions are essential to the state’s economy and delivered a total economic impact of $3.7 billion.
As not-for-profit cooperatives, credit unions reinvest their earnings into their member-owners, resulting in benefits such as lower interest rates on loans and better savings rates.
Credit unions not only serve their members, but also help drive local economies, which correlates to a positive impact for Arizona. Credit unions’ not-for-profit, cooperative structure, local footprint, and community engagement drive a unique impact that benefits the economy and provides people with tangible financial services and benefits they might not otherwise have access to.
![$3.7 BILLION IMPACT ON ARIZONA'S ECONOMY](https://gowestassociation.org/wp-content/uploads/2023/02/3.png)
$3.7 BILLION IMPACT ON ARIZONA'S ECONOMY
![2.2 MILLION CREDIT UNION MEMBERS SERVED](https://gowestassociation.org/wp-content/uploads/2023/02/4.png)
2.2 MILLION CREDIT UNION MEMBERS SERVED
![19,000 TOTAL ARIZONA JOBS SUPPORTED](https://gowestassociation.org/wp-content/uploads/2023/02/1.png)
19,000 TOTAL ARIZONA JOBS SUPPORTED
![$3.6 MILLION IN CHARITABLE CONTRIBUTIONS](https://gowestassociation.org/wp-content/uploads/2023/02/7.png)
$3.6 MILLION IN CHARITABLE CONTRIBUTIONS
![17,261 HOURS OF COMMUNITY SERVICE](https://gowestassociation.org/wp-content/uploads/2023/02/lightbuilb.png)
17,261 HOURS OF COMMUNITY SERVICE
Learn More & Download The Reports
Credit unions not only serve their members, but also help drive local economies, which correlates to a positive impact for Arizona. Credit unions’ not-for-profit, cooperative structure, local footprint, and community engagement drive a unique impact that benefits the economy and provides people with tangible financial services and benefits they might not otherwise have access to.
ECONorthwest’s Executive Summary Community Impact Report