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Filene Report: 'Transformational Change' Needed for CUs to Confront Climate Change

A new report finds climate-related issues are a threat to a majority of the credit union industry.

Image from Filene's "The Changing Climate for Credit Unions" report. Image from Filene’s “The Changing Climate for Credit Unions” report.

A detailed report released Tuesday by Filene Research Institute unveiled a potentially stark warning for the credit union industry as it relates to risks associated with climate change. The report, published by the Madison, Wis.-based think tank, bluntly estimated “that more than 60% of all U.S. credit unions and at least $1.2 trillion in credit union assets are at physical risk due to acute and chronic climate-related weather events and hazards.”

The 104-page report, “The Changing Climate for Credit Unions” laid out the data and arguments for the credit union industry to take steps to make financial, product and operational-level adjustments going forward to combat the risks associated with climate change.

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Michael Ogden

Michael Ogden

Editor-in-Chief for CU Times. To connect, email at [email protected].

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