Perfect for Christmas! (Go) Green and (Keep your CU out of the) Red

by Ron Daly 

I was reading through the paper version of the Credit Union Journal earlier today and saw an article by George Hofheimer: "How to Ensure the Green Trend Turns into Black Numbers" (not to worry, it's online, too - click here). 

I found it interesting for a number of reasons: one, the idea that "being green" isn't just putting out recycling bins and encouraging carpooling. It has to do with carrying a new level of business ethics into your pre-existing model. There's plenty of detail in the article about how making a genuine appeal to moral and environmental standards speaks to consumers in a profitable way. The "Big Three" Automakers also know this...which is why there's suddenly so much buzz around the Chevy Volt and other American-made fuel savers (click here). But it's not just the auto industry; lately, you can't swing a sharp stick without hitting a "green" product (don't believe me? Click here for National Geographic's list of green products and companies)

Two, that Co-operative Bank in Manchester (the FI that was evaluated in the article) had turned away $1.4 BILLION in money over the years from companies that conflicted with its "green" agenda. There are plenty of banks in America that would bend over backwards to get that amount of money in bailout. Here, however, is a bank that has turned away that much money and managed to grow. Out of the red, into the black, through the green.

What's the "big secret" here? None. Just a commitment that was carried out. Not only does that make you environmentally responsible but it increases your value in the eyes of your member base.

What's your CU doing to "go green"? Talk about it in comments.

Have a great weekend.