M for Money's Social Impact Report - M4Money Credit Union

In the summer of 2021, we put together a Social Impact Report to help measure how we, as a credit union, is performing and use it to relate to the overall change brought about to people’s lives and the environment. Our research team carried out a members’ survey, desk research as well as held virtual face-to-face interviews.

Below are a few highlights from the report.

There was a total of 130 members who participated in the survey.

96.9% would recommend M for Money to friends, family and colleagues.

When asked how members had benefitted from M for Money:

66% said that they have had a release of stress from financial pressure.

43.4% said they now have better money management.

Here is what members had to say:

“I know that M for Money will always help and give you advice at the same time, they will make sure you can afford what you want and also make a saving plan to help you save money.”

“I have used M for Money Credit Union for many years and is always a saving grace for me in time of need.”

“M for Money is there for any time you need a helping hand.”

When it came to financial education, 48.8% of surveyed members participate in financial education with their children teaching them saving habits and building money confidence from a young age.

In times of the Covid-19 pandemic, 32.3% of survey participants said they have been financially impacted by COVID-19 and the pandemic with half of those saying they sought help from M for Money to help alleviate some financial pressure.

The pandemic has also been a time of reflection for members regarding finance, savings, loans and money spending. Of the 130 survey participants, many reflected on one or more financial aspects with money spending and savings being the most common. Read the report for all the statistics on this.

The report concluded that M for Money has made a positive contribution to the lives of its members, the communities that M for Money operates in and therefore the measurement of social impact can be said to be positive.

You can read the full report on our website.