Develop a purpose statement for your credit union that works to improve members’ health, wealth and happiness.
A growing number of leaders are championing what they call conscious capitalism—building companies based on the idea their business is about more than just making a profit.
Think Costco, Trader Joe’s, REI and Whole Foods.
In fact, purpose is the path toward future growth. According to Entrepreneur magazine, conscious capitalism-inspired companies are outperforming the market by a factor of 10.5.
The shift to conscious capitalism started long before COVID-19, but the pandemic has acted as a catalyst, revealing the need for companies to have a purpose beyond profits in order to compete in a world with increasingly conscious consumers.