Credit Union and Members Declaration of Shared Values
“What you stand for is becoming as important as what you sell.”
(Richard Barrett, Values Coordinator, World Bank, as quoted in The Bulletin, May 22, 2001)
Every organisation, through its activities, explicitly or implicitly projects a set of values. The Maleny Credit Union is a member-owned banking and financial services enterprise. It is also a social enterprise, that is, its purpose is to improve the lives of members through ethical, sustainable and community focused services as outlined in Maleny Credit Union’s Constitution.
In December 2012, the Maleny Credit Union Board surveyed members to better understand what ethical behaviours (above and beyond those required by law) they wanted the Maleny Credit Union to adopt. Building on the results of that survey and the Mission Statement of Maleny Credit Union, the Board has decided to ask all members (including staff and directors) to endorse a Declaration of Shared Values pertaining to the financial activities of the Maleny Credit Union and its members. It is now main-stream for businesses to be explicit about the values they practice. The Board is asking members to be explicit about the values of the Maleny Credit Union.
We, the Members, Staff and Directors of Maleny Credit Union, agree to the following ethical values in the conduct of our financial affairs and support Maleny Credit Union in applying these same values in the conduct of its business:
- In all our financial dealings, we will aspire, to the best of our ability, to promote the collective well-being of human, animal and plant life on planet Earth.
- We understand that the Maleny Credit Union has a comprehensive Ethical Policy that guides its implementation of the principles of sustainable and ethical banking. The policy can be downloaded from www.mcu.com.au/ethicalpolicy. We understand that, as members of the Maleny Credit Union, we may be asked from time to time to provide input into the formulation of its Ethical Policy.
- In our relations with all Maleny Credit Union members, we (including Staff and Directors) will demonstrate and encourage- • honesty and integrity• transparency and accountability, and• best practice governance.
- We will encourage financial responsibility in all Maleny Credit Union members. In particular, we will- • endeavour to conduct our own financial affairs responsibly• expect that directors will adopt prudent risk management in their stewardship of member savings, and• expect that Staff and Directors will promote prudent financial practices to members and non-members alike.
- We will support the endeavours of Maleny Credit Union to foster a stronger social and economic community through facilities such as the Maleny Credit Union’s Charitable Trust and Monthly Giving Program.
- We endorse the Maleny Credit Union’s policy to avoid financial dealings or instruments which are detrimental to the environment or to society (www.un.org/en/documents/udhr). This would include, for example, activities that-• encourage production of weapons, tobacco or harvesting of old growth forest• engage in predatory practices or labour exploitation, or• abuse human dignity or contravene the Universal Declaration of Human Rights
- We endorse the Maleny Credit Union’s policy to develop prudent financial products and services that assist persons/organisations who-• promote sustainable resource and energy use• encourage dignity and respect for all people• promote positive workplace and management practices, and• pursue any activity of benefit to society or the environment as described in Maleny Credit Union’s ethical policy.
- We endorse the seven internationally recognised principles of cooperation which also apply to member-owned mutuals: voluntary membership, democratic control, economic participation, autonomy, education, cooperation among cooperatives and concern for community www.ica.coop/en/what-co-op/co-operative-identity-values-principles
- In our personal financial dealings, to the best of our ability, we will endeavour to act in accord with the shared values that we ask the Maleny Credit Union to promote