CUES: Position Beyond Dollars And Cents To Grow Loans And Deposits By Banking On Purpose

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.

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