09 February 2024
Empowering Communities: The CU AHB Fund
Empowering Communities: Heritage Credit Union’s Commitment Through the Approved Housing Body Fund (The CU AHB Fund)
In an era where social responsibility and sustainable investment are not just buzzwords but imperatives, Heritage Credit Union is proud to announce our involvement with the Approved Housing Body Fund (AHB Fund). Our decision to invest in the AHB Fund is a reflection of our deep commitment to Environmental, Social, and Governance (ESG) principles, particularly focusing on addressing the critical issue of housing within our communities.
At the recent CUDA conference in Athlone, the importance of credit unions in the realm of social housing was highlighted by Minister Jennifer Carroll MacNeill TD. The Minister applauded the efforts of credit unions in their contributions to the AHB Fund, showcasing projects in Adamstown, Dunlavin, Galway, and a notable development in Citywest. These initiatives not only represent our dedication to community investment but also our belief in the power of collaborative effort to make a tangible difference in the lives of many.
Heritage Credit Union, alongside 20 other innovative credit unions, has contributed to raising €33 million for the CU AHB, a fund that has already facilitated the delivery of over 100 homes across Ireland. While this achievement is significant, it represents just the beginning of what we can accomplish together. The Minister’s encouragement to increase our investments into the AHB Fund resonates with our vision, highlighting the potential to utilise over €1 billion of the sector's €14 billion total investments to support the provision of social homes nationwide.
Our involvement with the AHB is not just an investment in bricks and mortar; it is an investment in the future of our communities and in the principles of sustainability and social responsibility. The AHB Fund offers a responsible investment option that aligns perfectly with our ESG framework, ensuring that our members' funds are used to create positive social impact while also generating a positive return.
The Fund is currently operational and yielding beneficial outcomes. However, the need for more investment is clear, with a significant demand from Approved Housing Bodies for further funding to continue their vital work. As a member-focused organisation, we understand the importance of responsible investments that not only offer financial returns but also contribute to the welfare of our society.
To our younger members, your values of sustainability, community, and ethical investment are integral to the decisions we make. By supporting the AHB Fund, we are echoing your commitment to making a difference, ensuring that our collective efforts lead to a more inclusive, sustainable future for all.
Heritage Credit Union is excited to be at the forefront of this transformative initiative. We invite our members to join us in this journey, as we continue to explore opportunities that reflect our shared values and commitment to community well-being.
For those interested in learning more about the AHB Fund and the impactful work being done through our investment, we welcome your questions and engagement. Together, we can build a legacy of positive change, demonstrating the power of community and the impact of responsible banking.
Together, we are building more than homes; we are building hope, community, and a sustainable future for all.