CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • 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
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact

News

Home » Economic empowerment a critical component of DEI
Leadership

Economic empowerment a critical component of DEI

This involves helping people manage their money and create intergenerational wealth.

August 19, 2020
Ron Jooss
No Comments
ACCUC_mainart_118278

Economic empowerment is a critical element of diversity, equity, and inclusion (DEI), panelists said during the African American Credit Union Coalition’s Commitment to Change virtual event.

At its best, DEI should provide access to employment, fair housing, health care, and education, says Maurice Smith, president/CEO at $2.4 billion asset Local Government Federal Credit Union in Raleigh, N.C.

“The common denominator of all these concerns is economic empowerment,” he says. That involves helping people manage their money, create intergenerational wealth, and be good financial consumers.

‘Standing out begins by moving staff forward and not leaving anyone behind.’
Maurice Smith

Smith says Local Government Federal considers DEI both a moral and ethical imperative and a smart and strategic issue.

“How do we stand out in a commodity world? We want every employee and every member to be their very best,” he says. “That begins by moving our staff forward and not leaving anyone behind.”

NCUA Chairman Rodney Hood reiterated his stance that financial inclusion is the civil rights issue of our generation.

“When I look at COVID-19 and how communities of color have been disproportionately impacted, on top of what happened with the tragic murder George Floyd, we are seeing a lot of these issues bubble to the top,” he says. “A lot of that stems from lack of access to financial services.”

African American Credit Union Coalition

African American Credit Union Coalition

In the months ahead, Hood would like NCUA to host a summit with credit union leaders to improve access to capital for minority depository institutions (MDI), including the creation of de novo MDIs.

Other panelists included Cathie Mahon, president/CEO of Inclusiv; and Angela Russell, vice president of diversity, equity, and inclusion for CUNA Mutual Group.

KEYWORDS AACUC DEI

Post a comment to this article

Report Abusive Comment

Credit Union Magazine: Spring 2022

Spring 2022

Credit Union Magazine’s Spring 2022 edition profiles four Credit Union Heroes and examines CUNA's advocacy priorities, the advocacy army, and financial well-being for all.
Digital Edition •  Subscribe

Trending

  • FOM modernization bill passes House Financial Services Committee

  • CISA issues emergency directive on VMWare vulnerabilities

  • Central bank digital currency creation needs ‘serious, exacting’ consideration

Tweets by CUNA_News

Polls

Are you ready for CECL?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and 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

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2022 Credit Union National Association | ADA Compliance Notice & Legal
Email Us