Green Success Stories

Financing Sustainability for Colorado Businesses and Communities

Green Success Stories

Green Success Stories sat down with Garrett Chappell, Senior Sustainability Specialist at Premier Members Credit Union. We discussed the award-winning efforts of PMCU to support local members and organizations with green action, environmental education, unique events such as free bike repairs and hazardous waste collection, and with the broader scope of sustainability.

Tell us a bit about Premier Members Credit Union (PMCU)’s sustainability journey.

Premier Members Credit Union chose sustainability as a guiding pillar many years ago, and since then we have dedicated most of our efforts to internal action, looking at how we can improve our operations and immediate carbon footprint. Recently, we have extended those efforts to the larger community, looking to unique partnerships within the community to encourage residents of Colorado, and our members to more directly engage with the broader scope of sustainability. We have sought out opportunities to fund organizations focusing on land access and environmental education, as well as unique events for our member base like waste collection drives, and free bike repair events. Our goal is to show the complexity of what sustainability is, and how it intersects will all aspects of our business and our member’s lives. We would encourage everyone to check out our website and look at the interactive map of the nonprofits that we support, and really look at the diversity, and variety of support we offer to our communities. This work has led to significant moments of recognition for our organization, including the recent top-level Gold recognition with the Colorado Green Business Network. We are proud to be the first, and only Credit Union in Colorado to receive this recognition, and participate in their program.

Tell us a bit about the product or solution you offer.

As a credit union, we’re naturally home to opportunities for people to finance their sustainability needs. Credit Unions often have better interest rates than traditional banks, so we’re a perfect fit to fund people’s electric vehicle loans, or for a HELOC to pay for some larger-scale energy efficiency projects in their homes. As a bonus, because of Credit Union’s naturally not-for-profit status, our community-owned model, and the fact that our money stays local, instead of being invested in some massive projects somewhere half across the country, an investment in a Credit Union is inherently more sustainable. The biggest lesson we are learning about how to combat the climate crisis is to keep things as local as possible, and we are in a perfect position to do that for our members.

Share a green success story with us – how have you helped customers or other businesses in the fight against climate change?

Starting in 2021, we have held periodic waste collection events for our members, and such a simple outreach method has had an incredible impact. Since we started the program, we have collected over 40,000 lbs of electronic waste from our members, and over 7,000 lbs of household hazardous waste items, all completely at no charge to the public. These events reinforce the narrative that environmental action has positive social and financial repercussions. Because we take the waste for free (financial support) we are making people’s lives easier (social support) and ensuring that these hazardous wastes are recycled properly, instead of potentially being disposed of improperly, or illegally, leading to pollution (environmental support).

What would you do with $1 billion dollars?

Over the past few years we have been making fantastic strides in the Greenhouse Gas Reductions of our branches and offices, by making common sense, accessible changes to our operations like installing LED lighting, and other energy efficiency practices. With unlimited funds, we would further these efforts and convert all of our existing buildings to produce zero carbon emissions. Equipment like heat pumps can be incredibly expensive, and they are without question what all commercial buildings need to adopt to continue to reduce their impact on the environment.

What do you envision your industry looking like in ten years?

Credit unions are uniquely poised to further the mission of environmental action. Our entire ethos is predicated on the concept of mutual support, community well-being, and the understanding that we can remain profitable without exploiting the people who trust us with their money. These concepts fit squarely with the triple-bottom-line framework of sustainability and encourage further commitment to supporting the environment. I see a great opportunity for the credit union industry to continue to stand up, and show the communities that they serve that action at a local level is possible, is impactful, and is fulfilling. As the consumer base of 40-year-olds and younger continue to push organizations towards meaningful sustainable work, I see credit unions being able to easily adapt to their call to action.

What would you like readers to take away from this article?

Our hope is that members of the public continue to recognize the impact that can be had by choosing where they bank. Look to your financial institution and ask yourself, “How does this organization support my community? “How are they representing my values?” What are they investing my money in?” “What are their environmental practices?” This is where meaningful action is.

How should readers get in touch with you and/or your organization?

Head to pmcu.org to learn more about our Credit Union, and follow us on all social media platforms to stay abreast on our latest efforts.

Kudos

Many thanks to Garrett Chappell and PMCU. Green Success Stories is happy to support and highlight your efforts! We invite you the reader to do the same.

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