OTTAWA, Canada—The annual Credit Union Community Involved Survey is reporting that credit unions across this country have returned $50-million to the communities they serve in the form of direct donations, financial services, sponsorships, scholarships and bursaries. According to the report from the Credit Union Central of Canada, that figure is an increase from the $35.6-million reported one year earlier, with the donations making up 4.5% of the pre-tax income of the sector.
“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,” said Martha Durdin, president and CEO of Credit Union Central.
Canada’s credit unions reported that during 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 CUs employ 27,850 people.