Idaho Credit Unions Are Good for the State’s Economy
Idaho’s Credit Unions have proved a critical role in supporting the state’s economy, consumers, and local communities.
A 2022 independent analysis performed by renowned economists at ECONorthwest finds that Idaho’s credit unions are essential to the state’s economy and delivered a total economic impact of $1.7 billion.
As not-for-profit cooperatives, credit unions reinvest their earnings into their member-owners. Idaho credit unions provided $124 million in direct member 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 Idaho. 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.
Credit unions are essential in Idaho. Their impressive economic and community impact has been documented in an independent analysis performed by economists at ECONorthwest and in a community Impact survey by GoWest Credit Union Association.Download ECONorthwest’s Executive Summary Download the Community Impact Report