125 North Fulton St. Ithaca, NY 14850
Phone: (607) 273-4611
Toll Free: (877) 273-AFCU      Contact

Socially Responsible Business

What does it mean to be a socially responsible business? The Credit Union has been exploring this idea since we began operations in 1979. We have sought to demonstrate social responsibility ourselves, and hope through education to inspire other businesses and organizations to examine social responsibility. Business organizations operate in a context that is much broader than just their immediate marketplace. Their activities have social, economic and political consequences whose impact may be felt on a local, national or even international scale. Even small, local businesses have a large social impact collectively. Stakeholders - customers, suppliers, employees, the local community; in fact everyone who comes into contact with a business - have the right to demand accountability. Dimensions of social responsibility encompass:

* How the business uses human resources.
* The extent of community involvement.
* The environmental impact of the business.
* An analysis of the product or service the business produces.

To be socially responsible, a business must have a clear, rational definition of social purpose, a system of setting priorities based on their social implications, and a structured, integrated approach to financial and social action. Implicit in social responsibility is a new definition of success for small business. For more information on social audits and socially responsible business practices, please contact the Credit Union.

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Rima Shamieh

My IDA [Individual Development Account] experience was just incredible. I saved a few bucks every week and after a year, I had a savings account with $3,000 in it! And I'm glad that the MoneyWise class was required, because it really helped me develop a healthier relationship with money. So many of the skills I learned in class seemed so obvious, but I never thought/knew how to do them until we went over them in class. For example, tracking my spending made a HUGE difference in how I now spend money. Also, the exercises in the beginning when we explored our relationships with money - I discovered I'm a carefree, spirited, impulsive spender. It helps to put a name on things.

After accruing thousands of dollars in debt from student loans from when I was an undergraduate, I was determined to do all I could to stay out of debt for when I continued my education. The IDA really helped. I feel so much better prepared to build equity and save for my future. Thanks, Alternatives!


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