HUGHES FEDERAL CREDIT UNION
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What we do know is that Credit unions are owned by their members, emphasising democratic decision-making and community-focused financial services. Globally, there are 85,000 Credit unions with over 393 million members. Unlike banks, Credit unions reinvest profits to benefit members, offering competitive rates on loans and savings, highlighting their trustworthiness and focus on member empowerment.
Credit unions traditionally serve groups with a shared bond, such as workplaces or local communities. While their size and scope vary, their ethos remains consistent — members have equal voting power, fostering fairness and accountability. This contrasts with shareholder-driven banks, as Credit unions prioritise reinvesting profits to benefit members rather than chasing returns for external investors.
Credit unions generally have limited exposure to fossil fuels, largely because regulations restrict them to low-risk holdings such as member deposits and, in some countries, government securities. This varies by region, and members have real power to shape their Credit Union's climate policy. If you are a member, ask about any fossil fuel exposure and push for exclusion policies, emissions reductions, and proactive climate measures.
Maximise Your Climate Impact Today
- Take steps to amplify your green banking impact.
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- Discover more critical climate actions you can take.
