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What we do know is that Credit Unions operate with members, not customers, 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 typically avoid fossil fuel investments, focusing instead on safe assets like government bonds. However, regulations in some regions could permit riskier investments, including corporate bonds linked to fossil fuels. Members have the unique power to influence their Credit Union’s climate policies. If you are a member of this credit union, you should enquire about their potential fossil fuel exposure, while advocating for exclusion policies, emissions reductions, and proactive measures against climate change.
We can’t say it better than environmentalist Bill McKibben: “Money is the oxygen on which the fire of global warming burns.” But don’t wait for the fire department to turn up – join us!
Learn about the issues via our blog updates
Join our campaigns to take action against fossil finance
Discover other ways to divest from fossil fuels