www.ccul.org/a_news/newsprint.cfm?dailynews__ID=3273 -
[Cached Version]
Published on: 11/12/2007
Last Visited: 12/6/2007
In a breakout session at the California and Nevada Credit Union League's 2007 Annual Meeting and Convention, Tom Decker, a consultant with Hickory Creek Consulting, and Steve Delfin, executive director of the National Credit Union Foundation, tag-teamed the subject of the increasing social responsibilities of credit unions and the untapped benefit that can come from it.
...
Hickory Creek Consultant Tom Decker
Decker began the session by discussing the many definitions of ‘Cooperative Social Responsibility' or CSR and comparing the underlying similaritiesâ€"being open to different business models, being ethical, still being able to make money, and forming economic and community partnerships.His ultimate definition is as follows: "Cooperative Social Responsibility is the business strategy that shapes the values underpinning an organization's or institution's mission and the choices made each day by its executives, managers, employees, and board members as they engage with society."
To elaborate, he went on to discuss the four core principles that defined the essence of social responsibility: minimize harm, maximize benefit, be accountable and responsive, and support strong financial results.All of these principles focused on contributing to the societal and economic well-being of not only the credit union's key stakeholders (employees, volunteers, staff, members, communities, and suppliers) but the general public as well.Developing CSR is becoming increasingly important as Congress focuses more on the bonds and benefits between credit unions and their communities.Decker elaborated that "CSR, advocacy, whateverâ€"it doesn't matter what you call it, as long as you're doing it."