2 questions about helping members face today’s challenges

Leaders at cooperatives across the country share how core principles are driving strategic thinking in their shops.

Credit unions provide access to basic financial services to people of modest means. This is why they exist. Forged by long experience in helping members navigate waves of economic disruption, credit unions now face a set of circumstances and opportunities the likes of which they’ve never seen.

The nation’s member-owned financial cooperatives have turned out a decade of unprecedented growth. Now, how can they respond to the dual challenges presented by a pandemic-battered economy and the imperative to ensure inclusion and equality in all aspects of social life, including financial?

Leaders from a diverse group of credit unions have more than a few ideas about how the movement can help — from fee waivers, loan deferrals, new loan products, and payroll protection to volunteer tax return preparation, Habitat for Humanity projects, community partnerships for job development, and diversity, equality, and inclusion (DEI) initiatives. But most of all, these leaders emphasize the importance of adapting the core credit union mission of people helping people to today’s pressing circumstances.

 

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