WASHINGTON–Credit union leaders and organizations across the country continue to issue statements and share their views on racism and injustice in the wake of the death of George Floyd at the hands of Minneapolis Police.
As CUToday.info reported here, CUNA’s board has passed a resolution that it said seeks to publicly acknowledge and stand against structural racism and commits to creating a pathway to change within the credit union system.
“The credit union mission of ‘people helping people’ calls on us to recognize the inequities facing black members and black communities. We can and should do more to listen, learn, speak up, and take action to help dismantle racial disparities,” said CUNA President/CEO Jim Nussle.
CUNA said it is working with the African American Credit Union Coalition to “deliver meaningful change in the credit union system” and said it is committed to action by Aug. 10.
Other individuals and credit unions who have also issued statements:
Ron McClean, president of the Cooperative Credit Union Association in Marlborough, Mass.
Recent unfolding events have been painful to witness and are fueled by a long history of fear, injustice and inequality. The ensuing demonstrations and unrest have struck many parts of our nation, including areas within the Cooperative Credit Union Association footprint. Nationwide protests have brought the scourge of racism to the forefront. Everyone should be treated with dignity and respect. Now is the time to act.
As I have reflected on these events, I believe that each of us as credit union leaders can make a difference. But for true change, it requires going beyond making pro-social statements or feeling empathy toward those suffering the effects of violence and racism. It will come down to each of us making a difference in our own day-to-day relationships, both professionally and in our personal lives. Our collective credit union history is a proud one of inclusion: serving the underserved, assisting immigrants, and helping people from all walks of life have better opportunities in our country. In many ways, what credit unions do best is provide opportunity, often to those who have been denied elsewhere.
I want positive and substantive change to result from recent events and the injustices that we have witnessed for far too long. For the credit union community, greater financial inclusion is one outcome for which we can fight. With financial inclusion comes greater opportunity. There is no doubt that much work needs to be done to reach true equality and permanent systemic change in our country’s institutions. We draw from the strength that is at the core of our philosophy of 'people helping people.' This mission resonates even more in these current times. Credit unions do not help just some people, or certain people, we help all people.
Rodney Hood, NCUA Chairman, in an op-ed in the Wall Street Journal
When I was growing up in North Carolina, my father sat me down for “the talk” about how to behave should I ever find myself in an encounter with a police officer. He wanted me to understand the risks I could face as an African-American should such an encounter go the wrong way.
That was more than 30 years ago. Yet even now the risks my father warned about loom large for minorities in America, as demonstrated by George Floyd’s tragic and deadly Memorial Day encounter with a Minneapolis police officer. I am all too familiar with the heartbreak and pain that so many in the black community experience as they see such events play out repeatedly, and I understand the demand for change from peaceful protesters around the country.
But there’s nothing heartening in the emerging images of violence and property destruction. Violence and vandalism serve no constructive purpose.
President Trump appointed me the first African-American to lead a federal banking regulatory agency, the National Credit Union Administration…Since I assumed the chairmanship last year, much of my focus has been on building and reinforcing places that have fallen behind, often in areas where opportunity is limited, like hard-pressed urban neighborhoods and rural communities fighting decline.
Healing begins with strengthening our commitment to diversity and inclusion. Diversity is important, but only if it’s more than simply “checking the right boxes.” Inclusion requires a deep commitment to cultural change. As vice chairman of the Federal Financial Institutions Examinations Council, a formal interagency body that makes recommendations to promote uniformity in the supervision of financial institutions, I have called upon regulators to make inclusion a major priority in the financial industry.
But the change must reach beyond government agencies. Private industry should support inclusive growth. In that regard, it has been encouraging to see so many bank and credit union leaders make supportive statements about diversity and inclusion.
I encourage financial leaders to bolster those statements with a strengthened commitment to community building through financial inclusion. This includes giving more working families access to tools that help them achieve financial independence, providing more young people with the educational and vocational training they need to succeed, and nurturing the material conditions that allow people to prosper and thrive. Each of these will help Americans build stronger communities and a healthier society.
And finally, let’s renew our commitment to having the difficult conversations about diversity, equity and inclusion needed to foster and nurture greater understanding. These aren’t controversial principles. They’re the forces that bring us together and serve as sources of enrichment, strength and unity.
Brian Dorcy, president and CEO, Excite Credit Union, San Jose, Calif. via Twitter
Excite Credit Union is deeply committed to the credit union principle of Diversity, Equity and Inclusion. We condemn social injustice and racism in any form. We must step up for what is right and speak out against what is wrong. Racism is wrong. Therefore, we stand in support of peaceful protests for justice and racial equity.
Erin Mendez, president and CEO, Patelco Credit Union, Pleasanton, Calif., via Twitter
Credit unions were created with a social purpose: to help those of moderate means. We embrace the philosophy of people helping people. Our values are those of inclusiveness, fairness, and decency, and we hold integrity as our highest value. This integrity demands our full support of human rights for all, and the enduring values that bind us together demand justice and equality for all.
We stand against social injustice and racial bias. To the Black community, we stand alongside you in protest of racial inequalities. We unite our voice with all of our communities to ignite a heightened conversation to end hate and racism. This is our opportunity to be part of the answer and the solution. We join the united voice of the credit union movement to reject apathy and choose empathy as we rally against systemic racism.
Redwood Credit Union, Santa Rosa, Calif.
Redwood CU tweeted a graphic reading, “Black Lives Matter,” with the message, “We hear you at RCU and it’s always been true.”
Cutting Edge Credit Union, Milwaukie, Ore. via Twitter:
Todd Mason, CEO, Maine Credit Union League
The events that have transpired over the past week leave an eddy of emotions in their wake. Disappointment. Anger. Sadness. As these emotions swirl, the question that keeps coming to my mind is what we can do to help stop such events from happening another time?
“Concern for Community,” the seventh of the Seven Cooperative Principles, provides a starting point by directly linking us, as financial cooperatives, to our communities and our responsibility to them.
So what can we do?
We can lead by example in our communities. We can engage in the difficult conversations encouraged by Chairman Hood. We can take action on what we’ve learned from those conversations and ensure members of our communities are served with equity in access to the financial services they need. We can also include hope in our eddy of emotions, and by doing so, double down on our social mission of People Helping People.