Defining Community Within a Global Environment

How do you define ‘community’?

That question came up during a recent discussion I had with a credit union leadership team. Their field of membership has expanded over time to include new locations and opportunities for growth. 

Exciting stuff! However, it challenges the geographically centered definition of community they had used for decades prior.

Many other credit unions and businesses find themselves in the same boat. However, credit unions are especially compelled to consider the idea of community because it’s fundamental to the success of their cooperative business model. And this topic is particularly timely as we celebrate International Credit Union (ICU) Day, with its 2024 theme, One World Through Cooperative Finance, which encourages us to think beyond geography and explore how credit unions foster belonging and connection across the globe.

To be clear, community is not synonymous with “market.” Data analytics can help us understand the behaviors and needs of target audiences within our markets to an incredible level of accuracy. On the other hand, community is about feeling connection and fellowship with others through shared values.

Community Built on Shared Values

With more than 400 million members in nearly 100 countries, credit unions form a global network of like-minded organizations that share a common mission: improving people’s lives by providing access to affordable financial services. This global community of credit unions, celebrated during ICU Day, exemplifies how shared values, rather than geographic proximity, build strong, enduring connections.

I’ve had the privilege to work alongside hundreds of credit union leaders outside of the U.S. The wisdom I’ve gained from those experiences has been invaluable as it’s led me to new ideas, fresh perspectives, and ways of connecting dots that I would have otherwise missed.

Whether it’s the credit union down the road or one from a different continent, we all have opportunities to leverage our massive peer network and learn from each other. Across cultural differences, language barriers, and different worldviews, our cooperative model—celebrated on ICU Day—proves that we are stronger together.

Community Built on Identity or Experiences

People with shared identities or who’ve gone through similar life experiences can find benefit in socializing with others who can relate.

Some of the most exciting and recent growth in the credit union system has come from groups like the African American Credit Union Coalition, National Latino Credit Union Professionals, CU Pride, the Global Women’s Leadership Network, Credit Union Women Leadership Alliance, and a range of statewide to global young professional groups. There are many other groups that deserve mention here, and new ones that are being developed as you read this. They all help to build a sense of belonging and strengthen our community of credit union professionals.

Additionally, the rise of employee resource groups (ERGs) within credit unions has been inspiring, creating new ways for employees to connect. These groups often align with broader system partners like those mentioned above, as well as groups including military veterans, single parents, and individuals with disabilities.

The efforts of these groups are part of the broader ICU Day message, reminding us that fostering a sense of belonging and inclusion within the credit union movement builds stronger, more resilient communities.

Community Built on Solving Challenges

Credit unions are financial cooperatives that exist to serve their member-owners. This extends to serving the communities in which their members—and employees—live, work, and play.

Sometimes our members are faced with challenges that are bigger than any single credit union can tackle. Complex, systemic issues such as lack of affordable housing, food insecurity, and access to education can be the root cause of someone’s financial struggles.

Credit unions can address these issues by seeking out other organizations who are invested or uniquely equipped to solve for them. A sense of community can be developed around a cause or philanthropic strategy, inspiring employees and members to get involved, especially with issues they find personally meaningful.

As we celebrate ICU Day, we are reminded of the collective power that credit unions around the world have in addressing these larger challenges. By coming together around shared goals, we strengthen both our local and global communities.

Solving for the Most Basic of Needs

Belonging is a core human need and it’s become increasingly difficult to find in our world. Paradoxically, technology and globalization have increased our connectivity while also making us feel more disconnected than ever.

What hasn’t changed is that people want to feel protected, respected and connected. This can be accomplished through community. International Credit Union Day serves as a powerful reminder that the credit union movement is uniquely positioned to foster this sense of belonging, both locally and globally.

Credit unions can be leaders in creating communities and a sense of belonging. Whether it’s by strengthening what exists or building new pathways, the result will be as good for business as it will for those we serve.

Chad Helminak VP/Talent Development Programming at CUES brings two decades of leadership experience supporting purpose-driven organizations and leaders in the credit union industry. He has worked with notable organizations including the National Credit Union Foundation, TruStage, Filene Research Institute, and the Wisconsin Credit Union League. Chad facilitates experiential training for credit union leaders, leads boards and executive teams through strategic sessions, and drives growth in people, programs, and organizational capabilities.