Are Credit Unions Really Putting Global Good First?

an image of the world map

The very first credit unions came about when groups of people decided to come together for the common good and to lend money to people within their local communities in a fair way. However, in today’s modern age when they are all more aware of companies’ global impact, one question that has been often asked is whether or not credit unions are truly putting global good first.

For globally minded people, being part of an organisation which believes in the importance of offering affordable financial services and support to people who are in most need around the world is crucial, however they can rest assured that this is the very thing that credit unions stand for.

The World Council of Credit Unions

Credit Unions can be found all over the world, and while they all operate across different language and culture barriers, they all have a single concept at their heart – people over profit. The World Council of Credit Unions joins all of the world’s diverse credit unions together with this message at the forefront of everything that they do so that they can take the lead in bringing access to essential financial products to those who are most in need.

Millions of people around the globe have no access to loans or savings accounts. In fact, they live miles away from any kind of physical credit union premises. However, the World Council of Credit Unions is taking steps to remedy this, bringing credit unions to the people in remote communities by using a motorbike! This mobile service ensures that people in disadvantaged communities can get out of property, keep their businesses afloat and become more financially literate.

Credit Unions Encouraging Volunteers

One of the ways in which credit unions are helping people around the world to better manage their finances is to encourage volunteers to lend their skills and expertise in the field. The World Council of Credit Unions runs volunteering opportunities and field engagement trips for groups so that individuals and groups can get involved in making a big difference in some of the world’s most disadvantaged communities.

Social Responsibility Is Key

The World Council of Credit Unions promotes social responsibility, and as part of their goal to achieve more Global Good, they have set up a charitable entity called the Worldwide Foundation. This organisation has established their Global Good Toolkit which contains numerous products and tools which help the World Council to improve the financial situation around the globe. Two of the tools -the Charitable Donation Account and the Global Good Credit Card both offer opportunities for revenue growth in the long term whilst also promoting global social responsibility.

The credit union movement is committed to changing lives for the better by offering financial opportunities for those who have few options. Today, credit unions through their charitable work are helping refugees, farmers, home buyers and orphans from countries as diverse as Kenya and the Ukraine to gain access to affordable and accessible financial services.