Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Filene report: Sustainability can foster CU growth
MADISON, Wis. (3/26/14)--By embracing sustainability, credit unions have an opportunity to attract and retain younger members, create innovative loan-growth opportunities and reduce the risk of losing market share to banks, a new report from the Filene Research Institute claims.
 
The report, "Improving Social and Environmental Sustainability: A Credit Union Assessment and Comparison," measured the overall impacts of nine credit unions in four key areas--governance, workers, community, and environment.
 
As consumer priorities evolve, it makes strategic sense for credit unions to double down on sustainability, because their governance and field-of- membership orientation already fulfills many of the items on the sustainability checklist, the report said.
 
Perhaps more importantly, credit unions that embrace and communicate their social or environmental sustainability initiatives can carve out a unique niche for themselves within their communities.
 
Credit unions already exhibit many sustainability traits. Those studied in the report outperformed sustainable banks in important categories--such as worker compensation and benefits, and enterprise-wide recycling. Credit unions have diverse employee bases, pay their workers at or above market rates, and ensure a certain amount of pay equity between executives and line staff, the report said.
 
However, credit unions do have room for improvement. Among the areas with the biggest opportunities to get better: giving preference to local suppliers, undertaking environmental assessments, and developing environmentally focused products.
 
Filene said its report was designed to spur a "what-gets-measured-gets-accomplished" movement toward increased social and environmental performance within the credit union system.
 
"Measuring impact can be a daunting task," the report said. "However, only through an initial measurement of impact can organizations realize opportunities for improvement."
RSS





print
News Now LiveWire
Consumer spending is slumping #Market #Economy http://t.co/RI4HS68IuJ
2 hours ago
April is #NationalFinancialLiteracyMonth & @TheNCUA Chair Matz urges #creditunions to help members learn to manage/protect their finances.
4 hours ago
Fed. FI regulators' statmnts on compromised credentials/destructive malware #cybersecurity http://t.co/f4uTBDm1PU http://t.co/zP5Iw6VxZc
6 hours ago
Home prices rising faster than wages: @RealtyTrac #NewsNow #Market http://t.co/wa74mnw3Cu
7 hours ago
.@Nussle dropped by the @ACUMuseum recently. Read about his visit http://t.co/bYe8RRgYLP
8 hours ago