Diversity Insight: The secret ingredient to inclusion is … equity

Don’t just give everyone at your credit union the same thing; ensure that everyone is included in a way that helps them prosper.

In her 2017 book, The Origin of Others, Toni Morrison asks, “Why should we want to know a stranger when it is easier to estrange another? Why should we want to close the distance when we can close the gate?”

The United States is getting increasingly—even radically—diverse, both racially and ethnically. According to the US Census, by 2055, less than 40 years from now, it people of color will be 52% of the population. Unfortunately, with these major demographic shifts across our country, we are increasingly seeing each other as stranger rather than guest.

For CUNA Mutual Group and credit unions across the country to best serve the current and future needs of our customer base, we must begin to understand and reflect the changing demographics of our nation. We must view diversity as an asset to be built and embraced, as opposed to a threat to our existence. In fact, McKinsey & Company’s 2015 Diversity Matters report states that companies in the top quartile of racial and ethnic diversity and gender diversity have higher financial returns compared to national industry medians.

 

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