INDEPENDENCE, Iowa—Dupaco Community Credit Union and the Dubuque-based Creative Adventure Lab said they will combine to open the latest in what the credit union is calling an “Innovation Lab.”
The Innovation Lab will offer programming content and expertise to empower financial education, community innovation, and entrepreneurship, the organizations said, adding it will also offer coworking space, innovation services, meeting space, and team building activities designed to help entrepreneurs and small businesses launch and grow their businesses.
Dupaco said the space will host scheduled financial education sessions and one-on-one consultations by appointment for both members and non-members. The Innovation Lab will also include a Dupaco live video teller, which doubles as a publicly-accessible 24-hour ATM.
“As a not-for-profit cooperative, Dupaco’s mission is to empower people and improve their economic and social well-being,” said Dupaco Chief Marketing Officer Dave Klavitter. “Small business entrepreneurship is one way to help people better their financial positions. This Innovation Lab is a place for people in the community to connect to each other and Dupaco.”
The Innovation Lab in Independence is being supported by the Iowa Economic Development Authority.
Financial Education & More
“While the location is not a full-service Dupaco branch and a Dupaco staff person won’t always be onsite, Dupaco’s Community Outreach and Education team will offer regular financial education opportunities, small business programming and presentations through scheduled appointments at the new Innovation Lab,” the credit union said.
Dupaco said its community outreach team also will meet with members through scheduled appointments and will be providing educational programming and presentations at the Innovation Lab, which will be free for anyone to attend.
“The Innovation Lab is not a full-service credit union branch, but it is a point where members can connect with Dupaco,” said Klavitter. “So, we’ve simply dubbed places like this a Dupaco Connect…We expect the video tellers to increase future opportunities for member convenience – to serve more members, in more places, with expanded hours of service.”
Dupaco said it is partnering with the nonprofit Creative Adventure Lab because of its mission to foster creativity and innovation to benefit the community. According to Klavitter, Creative Adventure Lab specializes in using creativity and innovation to help entrepreneurs and small businesses be successful.
‘Struggling to Grow’
“More than 40% of Americans live in rural communities and these communities struggle to grow their economy and retain a talented workforce,” said Jordan DeGree, executive director for Creative Adventure Lab and the Innovation Lab. “Unfortunately, for these smaller communities, useful innovation and entrepreneurship support services are primarily concentrated in urban centers, leaving many entrepreneurs and businesses with a difficult choice to either forego the competitive advantage these supports provide or leave their community for a larger city.”