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Leveraging Impact to Attract Corporate Funds: A Guide for Credit Unions in 2023

By CNote
April 2023

In a time of scarce deposits, corporations are a powerful resource for credit unions. To capitalize on the impact they are already having, and appeal to corporations, credit unions must understand what corporations seek in their investments and position themselves accordingly. By partnering strategically with corporations, credit unions can broaden their reach and appeal to multiple corporations and big brands.

Understanding Corporate Investment Priorities

To attract corporate funds, credit unions should emphasize:

  • Social impact: Corporations are looking for investments that demonstrate a strong commitment to social responsibility. Credit unions can showcase their work in financial education, community development and support for under-resourced populations to attract deposits from corporations looking for investments that further their social responsibility goals.
  • Environmental impact: With 92% of S&P 500® companies now publishing a sustainability report, corporations are drawn to organizations that prioritize environmentally friendly practices. Credit unions can highlight their green initiatives, such as paperless banking, energy-efficient branches and support for clean energy projects, to attract deposits from corporations looking to further environmental impact.
  • Transparency and accountability: Corporations value investments that demonstrate transparency and accountability. Credit unions can ensure regular reporting on their social and environmental impact, as well as adherence to relevant regulations and certifications.
  • Risk management: Corporations seek investments that balance attractive returns with minimized risk exposure. Credit unions must emphasize their robust risk management practices and the security provided by the National Credit Union Share Insurance Fund (NCUSIF).

Strategies for Accessing Deposits From Multiple Corporations

Whether working independently or partnering with community organizations like CNote, credit unions can implement the following strategies to broaden their reach and appeal to multiple corporations:

  • Share the latest impact stories: Communicate the positive outcomes of your work in communities, showcasing success stories and testimonials that highlight the benefits of credit union membership and placing deposits with your credit union.
  • Participate in joint marketing efforts: Collaborate with partners to raise awareness of your impact-driven initiatives and attract corporate investors.
  • Optimize digital presence: Ensure that your online presence showcases your social and environmental impact, making it easy for potential corporate investors to assess their alignment with investment priorities.
  • Engage in regular reporting and updates: Keep corporate investors informed about their ongoing impact, financial performance and risk management strategies, regardless of whether they work alone or with a partner.

By understanding what corporations seek in their investments and positioning themselves accordingly, credit unions can leverage the impact they are already creating to access new sources of corporate funds. Implementing these strategies independently or with the support of strategic partnerships will enable credit unions to expand their reach and appeal to a broader range of investors, further strengthening their ability to serve their membership base in today's challenging economic environment.

About CNote

CNote is a technology platform that provides a sustainable flow of non-member deposits that are low-cost and deliver consistent value. This service is available at no cost to CUNA member credit unions as arranged by CUNA Strategic Services.