Description:

Most mid- to large-sized credit unions were pursuing so-called “green” practices by 2007, and some of the very largest were conducting the first energy efficiency audits and making impressive operational changes. The term “greenwashing” was already in common use and there was a great deal of ambivalence about how to talk about the new kinds of “green” products and processes that credit unions had developed. To trot out something as brazenly named as a “green loan” was to invite the most cynical scrutiny, even more so if you dared to be one of the first.

And of course we were, such being the pioneer spirit SMCU. Squeezing out a 25-basis-point discount and lining up all of the policies and procedures were all part of this unprecedented Marketing initiative. We did not immediately offset all of our carbon the same weekend, nor did we convert our coffee maker to solar power or force our staff to wear uniforms made of hemp and bamboo. And members were OK with that. They could personally related to our situation of being at square one with earnest intentions of making real changes every day.

Since the green loan discount rolled out, the credit union has formed a committee, installed compost bins, changed hundreds of light bulbs and created numerous innovative green programs. Being among the first to offer green loans was a wise choice. It helped us attract some interesting partners and PR opportunities that we might not have been offered if we had waited on the sidelines.

So what do you think?