In honor of Robert W. Hoefer's retirement as Dupaco Community Credit Union president and CEO earlier this year, the Dupaco board of directors announced the formation of the Dupaco R.W. Hoefer Foundation.
Dupaco Board Chairman Richard Burgmeier unveiled the foundation during the Dubuque, Iowa-based credit union’s annual membership meeting.
“This foundation recognizes Bob's monumental contributions to the credit union during his illustrious 47-year tenure," said Burgmeier. "It also reflects the spirit of Dupaco's mission of improving people's financial positions and enhancing their quality of life."
The Dupaco R.W. Hoefer Foundation is a 501(c)(3) organization designed to carry on the Hoefer tradition of providing personal financial assistance and coaching to help hard-working and financially prudent Dupaco members recover from unforeseen life events and to increase opportunity through education, the credit union said.
With a focus on personal pride and dignity, the foundation aims to transform sudden and unexpected economic hardships into financially sustainable outcomes for individuals and families, it added.
"The meaningful thing about this foundation is that it will carry on Bob's name into perpetuity and continue to positively impact lives just has Bob has done over these many years," said Burgmeier.
He noted that Bob and his wife, Marilyn, were instrumental in helping get the Dupaco R.W. Hoefer foundation off to a fast start through a substantial personal contribution.
Dupaco Community Credit Union has 64,000 members and assets of $976 million.