ARLINGTON, Va.—A focus on diversity, equity and inclusion (DEI) within an organization and its members is one of the most important areas to move up the list of priorities throughout the industry, says one DEI expert.
“Most credit unions were at the beginning of their DEI journey in recent years, but 2020 was a watershed moment for everyone,” said Paul Dionne, research project manager at Filene Research Institute, in a NAFCU Journal report. “Credit unions quickly shifted from merely acknowledging the importance of DEI at an organization to actively taking steps to ensure the organization represented the community it serves.”
The nature of credit unions and their ties to the community means that many already had latent DEI practices in place, said Dionne. “The next step in the journey is to evaluate what already exists and to be more intentional to fill in the gaps and create a more coherent DEI strategy.”
‘Not Just About Race’
One way to reflect the needs and interest of a community is to make sure members and potential members see staff and leadership that look like them, Carlos Calderon, president and CEO of OAS FCU, told NAFCU. “This diversity is not just about race or culture, it is also about age and gender of employees and volunteer board members.
“When thinking about race and culture, it is also important to remember that there are many sub-groups within the Latino population in North America,” continued Calderon. “A range of dialects and terminology for different countries means that just translating information into Spanish may not be effective if it is not produced or reviewed by a native speaker of the region represented in the community.”