“Despite some ups and downs as credit unions’ market shares have grown,” Dopico writes, “the sum of loan benefits and deposit benefits has grown steadily from under $1 billion in 1985 to over $10 billion in 2020.” Credit union benefits don’t end there, however. They also include access to lending that sustains local jobs, lower fees than at banks, responsive and friendly member service, community outreach, charitable giving and more.

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Dopico is chief economist at CUCollaborate, a credit union consulting firm. Before joining CUCollaborate, his clients included the Filene Research Institute, National Credit Union Administration, Credit Union National Association and Opportunity Finance Network. Dopico is also a member of NCBA CLUSA’s Cooperative Economics Council.