Canada’s Credit Unions: Strong Community Supporters

The Canadian credit union system contributed more than $49.3 million dollars through direct donations, financial services, sponsorships, scholarships and bursaries in 2013.  This is up from $35.6 million donated the previous year, an increase of 38 per cent!

“Investing in the communities we serve through social responsibility initiatives is part of our DNA, and has long been at the core of the Canadian credit union system,” explained Martha Durdin, President and CEO, Credit Union Central of Canada.

Included in the $49.3 million, the survey shows that Canada’s credit unions:

  • gave more than $38 million through donations and sponsorships;
  • donated $1.6 million to charitable foundations;
  • provided more than $2.6 million in donations-in-kind;
  • awarded $1.6 million in scholarships and bursaries; and
  • contributed more than $5.5 million in financial services to community organizations.

In addition to donations, many of Canada’s credit unions consider volunteerism an integral part of social responsibility.  In 2013, 62% of survey respondents stated that their employees participated in community activities as part of their paid work; and 76% said that employees participated in community activities and/or organizations representing the credit union during unpaid time off.

“Canada’s 27,850 credit union employees bring significant value to local organizations – often serving on boards or committees and helping to provide financial and management expertise for everything ranging from sports leagues and seniors’ clubs to local hospitals and charitable foundations,” added Durdin.