Credit unions work closely with suppliers every day, for almost every aspect of operations. Suppliers print marketing materials, stock vending machines, and equip branches with the hand sanitizer, personal protective equipment, and plexiglass barriers needed to safely conduct business.
But opportunities exist to think more strategically about these partnerships. A supplier diversity plan is one way credit unions can drive growth while strengthening the communities they serve.
This episode of the CUNA News Podcast features Lara Brecher, founder and principal consultant at Brecher Consulting and a former credit union business development manager. Drawing on her extensive experience in the credit union movement, Brecher discusses how supplier diversity strategies empower credit unions to uphold their missions and values while forging partnerships and driving growth.
As she explains, supplier diversity provides business benefits, promotes equity, and supports small businesses—all of which align perfectly with credit union philosophy.
In this episode:
1:38: What is supplier diversity?
2:53: Consistent with credit union values
4:20: Business benefits of supplier diversity
6:52: Building relationships with suppliers
8:52: Positive community changes
11:20: First steps for getting started
17:03: Goal-setting best practices
20:41: Where to learn more