Climate Change Data

Credit Union Atlantic (CUA)

Climate Impact & Sustainability Data (2021)

Reporting Period: 2021

Environmental Metrics

ESG Focus Areas

  • Financial Health
  • Community Development
  • Environmental Sustainability
  • Governance
  • Employee Well-being

Environmental Achievements

  • Continued offering of energy-efficient products (heat pumps, solar panels, energy-efficient renovations), resulting in 257 loans totaling $3.2 million in 2021.
  • Used 100% recycled, FSC-certified paper in most locations.
  • Used energy-efficient, LED-lit signage in branches.

Social Achievements

  • Launched Financial Health Index, an online tool to assess financial health.
  • Launched Saver Program to incentivize new savings accounts.
  • Introduced Best Fit Account Guarantee Program to ensure members have appropriate accounts.
  • Offered Skip-A-Payment Program.
  • Provided financial literacy programs reaching over 130 participants.
  • Community Investment Grant Program provided $100,000 to various initiatives.
  • Supported small and medium-sized businesses through Community Partners Program.
  • Continued partnership with Junior Achievement.
  • Delivered annual #10Kinaday event, rewarding students with $13,750 in tuition prizes.

Governance Achievements

  • Thorough review of risk management framework.
  • Redemption of $4.3 million in Preferred Shares due to effective fiscal management.
  • Implemented mandatory vaccination policy in October 2021.

Climate Goals & Targets

Environmental Challenges

  • Continued instability caused by the COVID-19 pandemic.
  • Changes in financial behavior of businesses and individuals.
  • Supply and demand issues in the housing market.
  • Low interest rate and highly competitive environment.
Mitigation Strategies
  • Strategic and proactive responses to changing environment.
  • Focus on supporting members in their financial journey.
  • Brand awareness programs and marketing initiatives.
  • Financial assistance program for members (deferral of loan payments).
  • Safety measures in branches and corporate office.
  • Hybrid work model.

Supply Chain Management

Responsible Procurement
  • Use of 100% recycled, FSC-certified paper.

Climate-Related Risks & Opportunities

Sustainable Products & Innovation

  • Energy-efficient products (heat pumps, solar panels, energy-efficient renovations)