Diversity, equity, and inclusion (DEI) isn’t a fad. It’s not going away. It should be embedded into your credit union’s culture and your everyday work.
Last year, during a panel session at United in Sustainability’s annual credit union summit, Miguel Polanco, director of NCUA’s Office of Women and Minority and Inclusion, said that DEI needs to be a cultural foundation of organizations.
“It’s been said, ‘culture eats strategy for breakfast.’ Everyone has a strategic plan, but the culture will drive your organization to the outcomes you want and make it sustainable,” he said. “DEI [is] part of the culture plan. [If] you don’t have DEI, you might as well say you’re not going to have any culture.”
At that same session, Ashley Riker, vice president of DEI at Hudson Valley Credit Union, said no matter what you call it, DEI is about positive impact.
Talking about DEI isn’t enough, it is a starting point. Moving beyond that to create an inclusive environment where everyone feels safe, valued, and respected, creates a place where people want to work. It creates a place that draws in employees and can help retain them.
“Diversity is about valuing people, equity is intentional fairness, and inclusion is driving belonging,” Riker said. “These are things that impact people’s lives, and that’s what we’re here for.” The credit union difference is about equity and access to the financial tools for success.
“The culture will drive your organization to the outcomes you want and make it sustainable.”
Just as credit unions strive to ensure they are open, accessible, and welcoming to their members, the same goal should be applied to the teams they build.
Yet nearly half of workers believe their company is not diverse and doesn’t prioritize DEI. Bryce J. Celotto, a Charlotte, N.C.-based policy advocate and DEI consultant, told the Society for Human Resource Management, that leaders need to disrupt the traditional notion of leadership as top-down directives and ask their team – all of them – what they need to feel seen, supported, and safe.
Back at the United in Sustainability’s Summit session, Ayris Scales, SVP of social responsibility and global initiatives for the National Association of Real Estate Investment Trusts, said DEI, “starts with systems, representation, and forcing transparency,” to be a foundational part of the culture.
As with any new policies, knowing where to begin, and how it may impact HR or compliance policies is a key initial step. Whether you are just starting to develop DEI at your credit union or looking at the next steps, HR Compliance Certification School with CUDoctor is a good starting point. This year’s School, July 22 – 25, includes the session, “Regulating ‘Inclusion’ – A new look at DEI”.
