Impact investing is a natural fit for credit unions, whose principles of social responsibility, financial inclusion and community commitment are reflected in their missions, strategies and product offerings.
Generate Awareness and Engagement Within the Credit Union Sector
Validate Member Demand, and Strengthen the Ability for Credit Unions to Respond
Develop Shared Platforms to Catalyze Product Development
Strengthen the Enabling Environment for Social Finance
1. Share Information and Best Practices Among the Credit Union Sector: The sector should commit to regularly updating the website that was created for this guidebook to showcase the range of impact investing opportunities and best practices in product development.
2. Review Product Development Approaches,and Share Tools and Templates: Credit unions can use networks and platforms (e.g. CCUA, Centrals and other system partners) to share the specific approaches that they are taking to product development within their respective institutions.
3. Validate Existing or Latent Member Demand Through Research and Campaigns: Credit unions – individually or collectively – can commission targeted research on the demand and preferences of existing members related to impact investing, as well as assess interest from potential members.
4. Strengthen Staff Capacity and Education Through Professional Development: Credit unions can embed impact investing as a component of professional development objectives, either through in-house materials, or suggesting the topic to training providers.
5. Explore the Feasibility of Collectively Negotiating a Partnership With an Established Product Issuer: To help reduce transaction and monitoring costs, credit unions could collectively negotiate a product partnership with an established product issuer.
6. Explore the Feasibility of a National Thematic Product Accessible To Retail Investors: Credit unions could engage with Centrals and system affiliates to assess whether they can create a shared, scaled product in an established impact sector (such as affordable housing or renewable energy).
7. Collaborate With Social Finance Intermediaries to Build a Pipeline of Qualified Opportunities: Credit unions can partner with local and regional intermediaries (such as community loan funds, community foundations, and incubators) to actively identify and vet potential opportunities.
8. Build on Regional or National Policy, Regulatory and Advocacy Initiatives That Promote Social Finance: Work with networks that are actively advocating for improved legal, regulatory and policy conditions, and engage with appropriate provincial and federal regulators.
Contribute your examples, strategies and learning.
Rally Assets and the Canadian Credit Union Association have partnered to create a guidebook on retail impact investing for credit unions.
This guidebook highlights an opportunity for credit unions to address a gap that exists in the retail impact investing market in Canada, and provides a roadmap for credit unions seeking to design retail impact investing products.
This information is not intended to be, and does not constitute, financial or investment advice or any other advice, is general in nature, and not specific to you. None of the information is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, Company, or fund.