RALEIGH, N.C.–Three organizations have joined together to advocate for the proposed addition of an 8th Cooperative Principle that would focus on diversity, equity and inclusion (DEI).
Local Government FCU, Civic FCU and the African-American Credit Union Coalition (AACUC) have launched DEI Talks, a website dedicated to making DEI the 8th cooperative principle. LGFCU, CFCU and the AACUC said they are inviting other credit unions and cooperatives to adopt the 8th Principle and demonstrate their support through the site.
The 7 Cooperative Principles, originally known as the Rochdale Principles after being set out in 1844 by the Rochdale Society of Equitable Pioneers in Rochdale, England, are overseen by the International Co-operative Alliance, which would have to agree to any revisions.
“The site promotes DEI as an expansion of the philosophical tenets currently embraced by cooperatives globally,” the organizations said. “The values of diversity, or plurality as it is often understood outside of the U.S., equity and inclusion are ideologies already ingrained within the cooperative community.”
‘Past Time’
The CU and AACUC leaders said they believe “it is past time to declare these as guiding principles.”
“Cooperatives support the notion that every member of a community has an inalienable right to exercise the doctrines presented in the cooperative principles,” said LGFCU and Civic Chief Executive Officer Maurice Smith, who proposed the addition of the 8th principle during his recent term as chairman of CUNA. “I see an opportunity to reaffirm our values and explore new opportunities. It is time to consider where diversity, plurality and inclusion for all of us stands today. I think the time is right to officially recognize the 8th Principle as part of the credit union and cooperative philosophy.”
A Challenge
Smith said he is challenging cooperatives globally to become champions for the cause, noting the DEI Talks site allows for organizations to publicly pledge their commitment to the 8thPrinciple. Champions are able to display this commitment to diversity, equity and inclusion on the site, and are encouraged to promote the 8th Principle on their own websites and social media channels, the organizations said.
“These values of plurality will not be short-lived,” said Renée Sattiewhite, AACUC president and chief executive officer, who emphasizes the importance of DEI as a Cooperative Principle. “It’s the right thing to do. DEI lines up with our core principles and values, and that is why it is lasting.”
A Refresher
And for credit unions leaders who may need a refresher, the 7 Cooperative Principles are:
- Voluntary and Open Membership
- Democratic Member Control
- Members’ Economic Participation
- Autonomy & Independence
- Education, Training and Information
- Cooperation Among Cooperatives
- Concern for Community