Credit Unions Have Until Dec. 31 to Enter Their 2017 Community Impact Data
November 13, 2018
Credit unions throughout the Northwest have begun using a new community impact data gathering system, recently launched by the Northwest Credit Union Association.
The system, known as the Community Impact Reporting Tool (CIRT), allows credit unions to enter key pieces of data, which will be compiled and used to tell the comprehensive story of credit unions’ impact, increasing the collective Credit Union Movement voice.
CIRT will capture a number of important data points, including community development, lending, social responsibility, charitable giving, and volunteerism. This information will be used in a variety of ways, including creating key talking points with legislators so that they may more deeply understand the impacts credit unions make on their communities.
Between now and Dec. 31, credit unions only need to enter 10 specific pieces of information that reflect their 2017 data. The window for credit unions to enter their full 2018 data will be from January to April of 2019.
The 2017 data requested includes:
- A story that illustrates your credit union’s overall impact on your community.
- The total amount of all charitable contributions (including sponsorships, Credit Unions for Kids donations, donations to local nonprofits, etc.).
- The number of nonprofits supported by your credit union.
- The total amount given in scholarships.
- A total amount given to disaster relief efforts (locally and globally).
- The total hours of financial education provided (events, seminars, classes taught, etc.) to the community.
- The total amount saved via prize-linked savings accounts held at your credit union.
- The number of community and economic development loans issued by your credit union.
- The number of loans your credit union issued to minority households.
- The amount of small business loans your credit union issued.
“Credit unions make such significant impacts on their communities and members every day, and now we’ll be able to share that big-picture story with important audiences,” said Northwest Credit Union Foundation Executive Director, Sharee Adkins. “We encourage credit unions to enter their data by Dec. 31, and we’re here to answer any questions. The more credit unions participate, the stronger the data will be.”
The Northwest Credit Union Association is in the process of onboarding credit unions to CIRT and is currently reaching out to them. Your credit union can expect to hear from the Association in the coming days.
Posted in Community Impact.