This paper aims to identify and validate social performance indicators of credit unions regarding their members, analyzing the dimensions of this performance.
This research used a mixed approach combining qualitative and quantitative methods. Data triangulation was used as a strategy with three main sources: literature review, documentary analysis of credit union bylaws and a survey of cooperative members. Content analysis and exploratory factor analysis were used to evaluate the data.
A total of 22 social performance indicators were identified and validated. Through the analysis of the survey responses, a correlation structure was identified with five factors, considered dimensions of social performance: cooperative principles, social inclusion and community engagement, financial inclusion, relationships and level of inactivity.
The main managerial implications included the need to implement structures and cultural changes so that the indicators of cooperatives’ actions regarding their members can be just as important as monitoring economic indicators. It is also necessary to promote cooperative education so that stakeholders will be aware of the social goals and results required to strengthen the identity and sustainability of cooperatives.
Social performance of cooperatives refers to meeting expectations and delivering results (in addition to financial outcomes) to members and communities. This includes actions taken to promote the full development of members, not only economic development, encompassing, among other things, fair access to financial services, opportunities for education and financial inclusion. As cooperatives have a dual nature, a balance between economic and social performance is necessary.
