VIENNA, Va.–The nation's largest credit union, other CUs and CU organizations across the country will be observing and celebrating Juneteenth today. NCUA Chairman Rodney Hood also issued a statement.
Juneteenth is an unofficial holiday celebrated annually on the 19th of June to commemorate Union Army General Gordon Granger's reading of federal orders in the city of Galveston, Texas, proclaiming that all enslaved persons in the U.S. state of Texas were now free.
The holiday is receiving additional attention this year due to recent news events and increased focus on equality, especially for African Americans.
Navy Recognizing The Day
Leading the way is the nation's largest credit union, the $125.5-billon Navy FCU, which is closing offices early today to observe Juneteenth.
"Navy Federal branches and operation centers will be closing early on Friday in observance of Juneteenth," said Mary McDuffie, president and CEO of Navy Federal Credit Union. "Juneteenth recognizes the end of slavery in our country. We at Navy Federal are encouraging our employees to take time to reflect, learn and recognize our history and the need to work together to build a better, more promising tomorrow."
Other CUs celebrating the day include Point West Credit Union in Portland, Ore., which has closed its offices today.
“The credit union recognizes the continued systemic inequity and injustice here locally and across the nation rooted in the original enslavement of black people, and we accept that observing Juneteenth is but a small step toward acknowledging the unique and difficult experience of our black community,” wrote PWCU CEO Amy Nelson in a message to members. “We will use this day as an organization to honor the strength and resiliency of our black neighbors, businesses, friends and family, and reflect on the hard and necessary work we must continue to do, to dismantle systems of oppression.
Our community is richer for its diversity of people and voices. While closed, we encourage our team and cooperative to engage in learning, celebrations, conversations and actions that support black voices, history, culture and organizations. Point West will continue its investments in services, programming and partnerships to reduce barriers, build wealth and financially empower our black community and the marginalized communities we serve.”
In North Chesterfield, Va., Virginia Credit Union said it is also closing its offices today.
‘Learn Something New’
Also closing its offices: the World Council of Credit Unions.
“I ask all of us to learn something new, ask ourselves an uncomfortable question, or put ourselves in the place of another affected by racism and then pay it forward; share what you learned or felt with at least one person,” said Brian Branch, WOCCU’s president and CEO.
Credit unions aren’t alone in observing Juneteenth. Capital One, Fifth Third, JPMorgan and U.S. Bank said they will be closing retail branches early Companies that have made it a paid holiday include Nike, Mastercard, Target, Twitter, Bank of America, Citibank and Uber.
Amazon and Google have encouraged employees to cancel unnecessary meetings on the day, with Google saying doing so will “create space for learning and reflection.”
NCUA’s Hood: "Juneteenth Compels Us to Advance the Goal of Financial Inclusion'
NCUA Chairman Rodney E. Hood released a statement saying, "As the nation celebrates this year’s Juneteenth, we must recommit ourselves to the principles of diversity, equity, and inclusion, which are necessary to foster and promote greater opportunity for all Americans. As we reflect on the enormous significance of this day and what it represents, it should also remind us how much further we must go.
“The recent protests across America and the COVID-19 pandemic, which has disproportionately affected minority communities, have illustrated the economic and financial challenges of minority, rural, and underserved communities. These events underscore the importance of MDI credit unions to their communities, and the NCUA has and will continue to find more avenues of support for these institutions.”
Hood said since becoming NCUA chairman he has made fostering greater financial inclusion a priority for the NCUA.
“Financial inclusion means expanding access to safe and affordable financial services for unbanked and underserved people and communities as well as broadening employment and business opportunities,” Hood said. “We all must work together because all of us have a stake in the outcome. We all benefit when more of our citizens can control their financial futures and enjoy the benefits and opportunities this nation provides.”