On May 8th Community Savings Credit Union announced the launch of their new Union Asset Management division, which focuses on providing union organizations with an asset management option that aligns with the values of the labour movement.

To read more about this new division, the full release can be viewed here, and is also available read below.

Source: Community Savings Credit Union

Community Savings Credit Union today announced the launch of their new Union Asset Management division, providing union organizations with an asset management option that aligns with the values of the labour movement.

The new division offers fund management for pensions, benefits, and other investments. The division will partner with NEI Investments, a Canadian asset manager specializing in responsible investing with over $10 billion under management.

Raj Khunkhun, President of Community Savings’ Union Asset Management division, said: “We heard from our union members the need for an asset manager that understands and aligns with the values of the labour movement – one that provides wide range of responsible investing solutions and competitive rates of return.

Right now, the vast majority of union funds are held by institutions that are actively anti-union, with large profits going to offshore elite shareholders, not in working peoples’ best interest. We’re here to change that.”

Mike Schilling, CEO of Community Savings Credit Union, said: "Unions play a vital role in creating a fairer and more just society. Our Union Asset Management division provides an option for unions to invest in the best interest of their membership."

Community Savings’ long-term ambition is to play a role in consolidating union capital in order to increase the purchasing power – and values-aligned impact – of pooled union funds, by investing in companies that generate additional returns for union members and that have values consistent with the values of the labour movement.

The Union Asset Management division welcomes inquiries from union organizations nationwide interested in learning more about its products and services. For more information, visit the Union Asset Management website at www.comsavings.com/assetmanagement.