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.