CU Social Good Shows $11.3M in Community Impact
by Shawn Marie Brummer
Director of Communications
5/15/2018

Credit Union Association of the Dakotas (CUAD) is thrilled to announce that our CU Social Good platform has been gaining national momentum and financial support. CU Social Good is the only website in the country dedicated exclusively to collecting and sharing the stories about the charitable things that credit unions do for their communities.

 

Besides showcasing the good deeds that credit unions are known for, the website has the capability to collect the financial impact data for participating credit unions. The numbers are now available for last year, and first quarter numbers for 2018 indicate that we are off to an impressive start this year.

 

Reports from data provided by participating credit unions, combined by CU Social Good, reveal the social impact credit unions are making in their communities. With 335 credit unions participating, these numbers clearly demonstrate the tremendous benefits that credit unions provide, broken down into measurable categories. The 2017 totals are as follows:

 

  • Cash Money Donated: $7,764,625.00

  • Value of Non-Monetary Donations: $519,083.00

  • Educational Scholarships Awarded: $1,438,800.00

  • CU4Kids/CMN Hospitals Donations: $1,634,943.00

  • Volunteer and Financial Literacy Event Hours: 37,916

The total impact that these 335 credit unions made in 2017 amounts to more than $11.3 MILLION worth of benefits to communities – including schools, charitable organizations, financial education events, and investments in further education. This information was collected from the 1,250 stories that were submitted last year. It is important to note that the $11.3M reflects the contributions of approximately 6 percent of 5,573 credit unions listed by the National Credit Union Administration (NCUA) in the United States. Moving forward, a primary goal of CU Social Good is to engage as many credit unions as possible so the numbers compiled are an even better reflection of the actual financial benefits that credit unions provide to their local communities.

 

2018 is already off to a strong start. To date, the approximately 360 stories that have been shared so far this year reflect the following community impact:

 

  • Cash Money Donated: $1,448,490.00

  • Value of Non-Monetary Donations: $157,105.00

  • Educational Scholarships Awarded: $427,900

  • CU4Kids/CMN Hospitals Donations: $396,200

  • Volunteer and Financial Literacy Event Hours: 12,210

Since its inception in 2013, CU Social Good, has collected more than 6,400 stories from credit unions in all 50 states in the US, as well as several Canadian provinces. First launched by the Credit Union Association of the Dakotas in 2013, the website was totally revamped in 2016 to add the financial reporting capabilities. Over the last year, the platform has gained financial support from other state leagues to continue the project. Sponsorships have been received from: Nebraska Credit Union League; Tennessee Credit Union League, The Wisconsin Credit Union League, Illinois Credit Union League; Heartland Credit Union Association; Northwest Credit Union Association; American Association of Credit Union Leagues; Association of Vermont Credit Unions; Minnesota Credit Union Network; LSC; Mississippi Credit Union Association; and Montana’s Credit Unions.

 

About CU Social Good

CU Social Good is owned and managed by Credit Union Association of the Dakotas. It was recognized by the Credit Union National Association (CUNA) as the Best Community Relations Program (2014) and received the Midwest Society of Association Executives (MSAE) Award of Excellence (2015). CU Social Good is a proud supporter of CU4Kids. Learn more at www.cusocialgood.com.

 

 

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