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Financial inclusion and racial equity: Inclusiv honors black credit unions

Nationwide, Black people have been disproportionately impacted by the COVID-19 pandemic. This Black History Month, Inclusiv honors the Black-led credit unions and the CEOs, Board members, staff, and volunteers fighting back against the immediate consequences of the coronavirus and the persistent economic and racial inequalities contributing to the high toll of COVID in the communities they serve.

Throughout February, Inclusiv will host a series of webinars and publications to feature the work of minority designated credit unions serving the low-income communities and communities of color hardest hit by COVID and systemic discrimination.

Inclusiv and the African-American Credit Union Coalition (AACUC) are once again partnering to produce a series of features highlighting the impact of our combined membership in providing COVID relief and in advancing racial equity. Now in its fifth year, the collaboration features social media posts throughout February and culminates in an e-Book to be released in late February that both organizations will use to Hike-the-Hill.
This month, join AACUC and the Heartland Credit Union Association in the “Be Better, Do Better” webinar on February 16 at 1 PM EST. Register for this conversation on diversity, equity, and inclusion here. As well, join AACUC’s “Commitment to Change: Credit Unions Unite Against Racism” conversation on February 19 at 1 PM EST by registering here. Inclusiv’s President/CEO Cathie Mahon will speak at both events.
In support of its member credit unions’ relief efforts, Inclusiv has added the $25 million Racial Equity and Resilience Investment Fund and Resilience Grant Fund to its on-going racial equity work through Inclusiv/Black Communities and the Southern Equity Fund. For more information about Inclusiv investments in credit unions, contact capital@inclusiv.org.
The $900 billion Coronavirus Response and Relief Act (CCA), signed into law on December 27, 2020, includes $12 billion in funding for CDFIs and MDIs, ensuring resources will be directed to some of the communities hardest hit by the coronavirus pandemic. Inclusiv has been in communications with the NCUA, the CDFI Fund, Senate Majority Leader Chuck Schumer, and members of the Biden Administration to share the community development credit union perspective as funding is shaped and disbursed.
Credit unions are invited to learn more about the $1.25 billion in immediate support for the current fiscal year through the Rapid Response Program (RRP) in a webinar on February 4, 2021 at 2 pm ET. Register at https://www.inclusiv.org/cdfi-rapid-response-program-webinar-how-to-prepare/.
Also, part of the CCA is $1.75 billion in Technical Assistance and Financial Assistance grants for Minority Lending Institutions through the CDFI Fund. Inclusiv is hosting Wednesday afternoon CDFI Office Hours for credit unions interested in learning more about CDFI certification to avail themselves of these grants. Register at https://www.inclusiv.org/weekly-discussion-series-inclusiv-cuna-mutual-group-cdfi-office-hours/.
On February 22 at 2 pm ET, Inclusiv’s Senior Program Officer, Monica Copeland, and guests will lead a conversation on the critical role Black credit unions play in achieving racial equity. Register for the Zoom conversation here.
Inclusiv will wrap up its Black History Month events with the release of Preserving and Growing Black Credit Unions, Inclusiv’s Guide for Building Capacity and Providing Technical Assistance at the end of February. This guide highlights the framework used by Inclusiv/Black Communities to strengthen credit union operations and design a blueprint for growth and impact. It is intended to serve as a resource for credit unions seeking to grow and build capacity and for partners throughout the movement delivering technical assistance to Black credit unions. We believe this framework may be useful to a wide range of partners, including credit union leagues and associations, funders, and local community groups working with, or supporting, the preservation and growth of Black credit unions.

Inclusiv is participating in a number of our industry partners’ Black History Month events. For updates on Inclusiv and partner events, check in with us at www.Inclusiv.org.