3 minutes
In my perusal of “what to expect in 2024” New Year’s content, one topic jumped out at me: that of the future of diversity, equity and inclusion efforts. These headlines caught my eye:
- “HR Leaders Still Committed to DEI Despite Mounting Attacks” (Fortune)
- “DEI Is Under Attack. Here’s How Companies Can Mitigate the Legal Risks” (Harvard Business Review)
- “2024 Might Be Do-or-Die for Corporate Diversity Efforts” (The Washington Post)
- “Google, Meta, Other Tech Giants Cut DEI Programs in 2023” (CNBC)
Credit unions may remain more committed to DEI than other businesses. In December, NCUA released its 2022 Credit Union Diversity Self-Assessment Report, reporting that 481, or 10% of CUs, submitted a self-assessment, an all-time high for this voluntary survey. NCUA identified four areas of success among reporting credit unions:
- Their leadership is committed to DEI principles and standards.
- There is an increase in the number of women in CEO and other leadership roles.
- There is an increase in the number of Hispanics or Latinos in management and CEO roles.
- They have active engagement in DEI outreach efforts.
The 2023 assessment was open through Jan. 31. I will be eager to see what has changed in the past year when that report comes out, likely in late 2024.
One thing I think is true about credit unions: They recognize the business case for strong DEI programs. CUES Senior Editor Lisa Hochgraf reports on the ways credit unions benefit from DEI in “The Strong Business Case for Pursuing DEI—and Now B.” She also includes suggestions for how to respond to pushback against DEI efforts.
One credit union that is very committed to DEI is the winner of the inaugural John Pembroke Catalyst for Change Award: $20 billion Golden 1 Credit Union, based in Sacramento, California.
Golden 1 CU’s adherence to credit union ideals is a key reason the organization excels in its DEI efforts. “Credit unions were founded on the values of inclusivity, belonging and equity, and Golden 1 has lived those values since our founding in 1933,” says Erica Taylor, VP/communications and community relations, in our feature story about the credit union’s efforts, p. 12. “However, we’re always looking for ways to do things better. We aim for continuous improvement, and DEI is an important part of that.”
Desirée Thompson, Golden 1 CU’s VP/DEI culture and talent, recommends that credit unions make a lasting DEI impact by actively engaging their workforce and investing in empowering resources. “This approach enables employees to take control of their careers and shape their future,” she says. “Furthermore, emphasizing allyship fosters organic employee interconnectedness and promotes an inclusive workplace. Additionally, aligning DEI efforts with business objectives while regularly assessing and adjusting strategies based on diverse perspectives ensures sustainable and impactful initiatives that meet evolving needs. By combining these approaches, credit unions can build a workplace where diversity, equity and inclusion are integral.”
If your CU is committed to DEI, now is a good time to send employees to our Diversity, Equity, and Inclusion Cornell Certificate Program. This program was developed specifically for the CU industry in partnership with Cornell University. It runs March 27–July 16. We’ll host an informational webinar about the program later this month. Watch cues.org for more details. And visit the CUES DEI Resource Center for many more resources: cues.org/dei.
