DBRS Morningstar Publishes Commentary on Credit Unions' Positive Social Impact

DBRS Limited (DBRS Morningstar) published a commentary titled “The Positive Social Impact of Credit Union Products and Services,” which highlights, within an Environmental, Social, and Governance (ESG) framework, positive social activities of credit unions that benefit sustainable economic development across Canada.

Key highlights include the following:

-- Credit unions have a positive social impact through the products and services they offer, which benefits sustainable economic development across Canada.
-- Through active engagement with their members, credit unions have a keen understanding of societal issues facing a community. As such, they have been responsive and agile in devising solutions to tackle important issues facing local communities.
-- Generally, credit unions regularly contribute to the betterment of local communities through donations to charities, contributions to endowment funds, scholarship programs, and free access to investment advice.

“Credit union activities generate a positive social impact and, as such, support principles underlying sustainable economics and long-term value creation,” said Sohail Ahmer, VP North American Financial Institutions, at DBRS Morningstar. “These objectives are achieved principally by providing financial services in remote communities, being responsive to societal issues, and through direct investment in local communities.”

Notes:
The commentary is available at www.dbrsmorningstar.com.

For more information on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].

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