Credit unions, perfect for socially conscious consumers
by: Christina Pontisso
The Los Angeles Times recently named Credit Unions as one of the best options to invest your money into the social good. The main reason being that credit unions are not-for-profit and are member-owned.
“Joining a credit union is a simple way to invest in a community–either a geographic community or a community of people with similar interest,” wrote Tom Petruno for the Los Angeles Times (Dec. 7).”
Petruno advocates that consumers should still do their homework, no matter what type of organization it is. “You can pick a bad investment just as well in socially responsible investing as in mainstream investing,” Jed Emerson, chief impact officer at ImpactAssets, told the Los Angeles Times.
Other ways you can invest in the social good, include:
- Mutual funds: Invest in a socially responsible company through mutual funds. Using environmental, social and governance standards mutual groups can weed out tobacco, alcohol, gambling or weapon companies from their options of investment.