|Date joined:||23 August, 2019|
|Initiatives:||Principles for Responsible Banking|
|Reports:||Mar 21 Jun 22|
Founding Signatory to the Principles or Responsible Banking
The Innovation Credit Union is passionate about doing the right thing. This is why it embraces the Responsible Banking, which, in a nutshell is about creating and using its profits in a way that makes life better for its our members, its communities and the world. Responsible Banking is a values-based position that guides its entire team, challenging us to think differently about how we operate as a financial institution. These values also remind the Credit Union of its responsibility to return profits back to members. It does this by providing each of them with long-term rewards designed to benefit them financially.
Being guided by the ‘do the right thing’ mandate of Responsible Banking means ensuring that its members are truly its number one priority. It puts this into practice in decisions made, from offering innovative financial products and services to getting involved in the communities served. This includes everything from volunteering and sponsorships to extending services to communities that other banks fail to serve. It also means taking care of staff, ensuring they’re trained for meaningful careers and empowered to support members. Responsible Banking inspires the Credit Union to think big, embrace innovation, create change and foster growth. As its CEO Daniel Johnson says, “we’re determined not to create an environment where tomorrow is just another version of yesterday for our members.” To achieve this, Innovation Credit Union is constantly looking for ways to evolve so that it can continue to be the valuable, profitable and meaningful financial partner that its members deserve.
Why did the bank join UNEP FI as a member?
“Responsible Banking is a core value at Innovation Credit Union. We are committed to doing the right thing for our members and communities with our profits to ensure social change. We believe the principles for responsible banking under the UNEP Finance Initiative are principles Innovation Credit Union not only believes in but works toward achieving on a daily basis,” Daniel Johnson, CEO, Innovation Credit Union.