MARLBOROUGH, Mass.–As the world marks International Credit Union Week, the Cooperative Credit Union Association said its board has voted to adopt what has become known as the “8th Cooperative Principle” in support of diversity, equity & inclusion (DEI).
Separately, the CCUA also announced the winners of its Best of the Best Awards.
In adopting the 8th Cooperative Principle, the association said it did so “to strengthen its commitment to credit unions and their work to bring about transformational and structural change in our nation to ensure financial inclusion for all, including those excluded from the traditional financial system.”
In addition, the CCUA, which represents credit unions in Massachusetts, New Hampshire, Rhode Island and Delaware, said the move also “deepens and strengthens” its on-going commitment to “recognize and value the contributions of the diverse groups of individuals whose shared experiences enrich our corporate culture and advance the Cooperative philosophy through affirmative DEI programming.”
How Resolution Reads
The DEI resolution adopted by the CCUA reads:
- “WHEREAS Cooperative Credit Union Association values the contributions of a diverse group of individuals whose shared experiences enrich our corporate culture; and
- WHEREAS Cooperative Credit Union Association strongly believes diversity, equity and inclusion improve upon our ability to be a more resilient, productive and situationally aware institution; and
- WHEREAS Cooperative Credit Union Association holds that all people possess an inalienable right to an unimpeded path to succeed in the pursuit of their chosen professional ambitions; and
- WHEREAS Cooperative Credit Union Association seeks opportunities to advance the Cooperative philosophy through affirmative Diversity, Equity and Inclusion programming;
- WHEREAS Cooperative Credit Union Association recognizes the establishment of the Seven Cooperative Principles in 1844 by the Rochdale Society of Equitable Pioneers; and
- WHEREAS Cooperative Credit Union Association recognizes the adoption of the Seven Cooperative Principles in 1900 by the International Co-operative Alliance; and
- WHEREAS Cooperative Credit Union Association acknowledges the evolution of societal norms over the course of the past 176 years such that a different sensibility for our culture now exists; and
- WHEREAS Cooperative Credit Union Association seeks to publicly proclaim its commitment to a set of core values that echoes these ideals;
- NOW THEREFORE, BE IT SO RESOLVED:
- Cooperative Credit Union Association supports an 8th Cooperative Principle that asserts an unambiguous commitment to Diversity, Equity & Inclusion; and
- BE IT FURTHER RESOLVED that this Resolution is adopted as a Call to Action for the Cooperative Movement to do likewise.”
Award Winners
Separately, the Cooperative Credit Union Association honored the “Best of the Best” at the Awards of Excellence program held during its APEX Conference last week.
“Now, more than ever before, these awards honor those people who make a difference by their personal embrace of the credit union system and its values and principles - truly heroes and ‘credit union legends among us who set examples for all to follow,” the association said.
Honored by the CCUA were:
Professional of the Year
Meghan Leach, Service Credit Union (New Hampshire) and Debjani Ray, Harvard University Employees Credit Union (Massachusetts)
CEO of the Year
Douglas J. Petersen, Workers FCU (Massachusetts) and Michelle Dwyer, Franklin First FCU (Massachusetts)
Volunteer of the Year
Arthur R. Osborn, Jr., RTN FCU (Massachusetts)
Hall of Fame
David C. Anderson, Bellwether Community Credit Union (New Hampshire); John R. Young, New Hampshire FCU (New Hampshire); David P. Sprague, Hanscom FCU (Massachusetts); James F. Toohey, St. Mary’s Credit Union (Massachusetts), and
Raymond H. Coultas, NH Credit Union Leader