CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • COVID-19
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » COVID-19 responses through ‘a diversity, equity and inclusion lens’
Policy & Issues

COVID-19 responses through ‘a diversity, equity and inclusion lens’

May 5, 2020
DEICOVID

While everyone around the country is impacted in some way by the coronavirus disease (COVID-19) pandemic, people of color and low-income individuals are among the most vulnerable, CUNA Senior Policy Analyst Samira Salem says in a special Economic Update video.

“For credit unions, understanding the challenges our vulnerable members are facing is critical to ensuring we’re crafting responses that best serve their needs,” she said.

Specifically, Salem notes that women, Blacks, Hispanic/Latinx and young adults are at the highest risk of job losses from a COVID-19 related recession. COVID-19 related pay cuts are also hitting a higher percentage of low-income, Black and Hispanic/Latinx workers.

She recommends credit unions “use a diversity, equity and inclusion lens” when designing responses to COVID-19, including:

  • Knowing the pain points of the vulnerable populations;
  • Asking the right questions;
  • Use an equity lens in communications;
  • Consider unequal access to technology;
  • Practice inclusive leadership; and
  • Practice humility, virtual community and self-care.

Salem also highlighted several ways credit unions are stepping up to the plate to help members and staff, including:

  • 92% of credit unions surveyed are offering modifications to existing loans;
  • 76% of credit unions are offering new loan products;
  • 85% of credit unions are waiving and reducing fees;
  • 58% of credit unions are offering financial counseling, debt consolidation or other services;
  • Credit unions are also providing support to employees that includes childcare programs, paid leave for families who have or have a family member with COVID-19 and employee assistance programs.

The full video can be found below.

KEYWORDS coronavirus
Credit Union Magazine - Winter 2020

Winter 2020

Credit Union Magazine’s Winter 2020 edition features CUNA’s 2021 lending outlook, CEO insights on adjusting to the pandemic, and board recruitment strategies.
Digital Edition •  Subscribe

Trending

  • Compliance: 2020 Year in Review, Checklist now available

  • NCUA proposes raising threshold for ‘complex’ CUs

  • 5 fraud predictions for 2021

Tweets by CUNA_News

Polls

Will you ask employees to receive the coronavirus vaccine?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites
  • Privacy Policy

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors