LUMINARIES 2022 Finalists: Diversity, Equity & Inclusion - Organizations

Travis Credit Union: Northern California is home to some of the country's most diverse counties, which is why Travis Credit Union ($4.8 billion in assets; 230,151 members) serves its 12-county service area with a high priority on education and diversity initiatives. The credit union employs a full-time diversity community engagement officer who is responsible for forming alliances with organizations that provide financial education to diverse and economically vulnerable populations. In 2021, more than 10,000 individuals received financial education through TCU seminars and 9,569 youth were reached through financial education initiatives. In addition, more than 500 Spanish speakers have participated in TCU’s seminars and over 450 foster and homeless youth have benefited from TCU’s college workshops. For its employees, TCU’s executive leadership team created DEI committees and subcommittees across the organization and six employee resource groups that hosted 18 DEI activities last year attended by more than 350 participants.

Community Credit Union: Since it was founded in 1945 to serve the parishioners of St. Peters & St. Paul’s Church in Lewiston, Maine, Community Credit Union ($90.9 million in assets; 11,641 members) has served the underserved. Within the past five years, the credit union has expanded its diversity, equity and inclusion focus with several initiatives designed to meet its vision of being a financial cooperative where everyone is welcome. Employees and members shared that language barriers were among their biggest challenges in financial transactions. Community Credit Union hired several multilingual employees, built a French website and implemented Language Line Solutions live video interpreter services to encourage financial equity. The credit union earned its CDFI designation, which helped it form partnerships for career advancement loans, auto loans for individuals with damaged or no credit and emergency loans. It also has helped six employees earn their Certified Credit Union Financial Counselor designation and allowed several employees to complete Bridges Out of Poverty training.

Ent Credit Union: Ent Credit Union’s ($9 billion in assets; 473,470 members) vision is “For people, not for profit,” a value it applies to not only its members but also its teammates. At the onset of COVID-19 in 2020, Ent was embarking on an initiative to better engage its employees through employee engagement groups that foster a diverse, inclusive workplace. The groups focus on seven elements for employees, including advocating for themselves, professional development, providing information about their identities, performing community outreach, opening new networks for recruiting, supporting business objectives and serving as a visible sign of the credit union’s commitment statement. Ent started with an EEG focused on employees with leadership ambitions and then built frameworks for groups to focus on People of Color, women and LGBTQ+A communities as well as mental health, veterans and first responders. Each group hosts events, volunteer opportunities and meetings. Of the credit union’s 1,400 employees, more than 45% are involved in one or more groups.

Jovia Financial Credit Union: Jovia Financial Credit Union’s ($4.5 billion in assets; 213,680 members) Diversity, Equity and Inclusion initiative recently marked its first anniversary. In addition to consulting an external DEI consultant, the credit union selected volunteer DEI committee members from a pool of passionate employees who educate staff on the key components of fostering an inclusive environment and build a culture that embraces respect and different perspectives. The committee began with surveys and discussions that led to its first internal women’s and men’s conferences attended by many members of executive management in a show of buy-in from the top. Aligning with its mission to serve the underserved, the credit union developed checking accounts for unbanked individuals who have a challenging banking history, an initiative it hopes will provide guidance, education and tools for many to take a step back in the right direction. Jovia also partners with local organizations that give back to communities.

Members 1st Federal Credit Union: Members 1st Federal Credit Union ($6.6 billion in assets; 522,701 members) committed to creating a culture of belonging and engaged senior leaders in interactive discussions to expand its understanding of equity and diversity. In 2020, it established two associate resource groups – Women in Leadership (WIL), with a mission to foster an inclusive environment that empowers, educates and encourages women, and Diversity, Inclusion, and Belonging (DIB) focused on fostering a culture where diversity, equity and inclusion are respected and valued. Throughout 2021, 144 associates engaged in its ARGs. In addition, Members 1st’s human resources team created an equity analysis program that examines all employment offers and promotions to ensure equity. The credit union’s talent acquisition team also partnered with its DIB ARG to audit job ads and recruitment materials and suggested changes to speak to a broader range of candidates.

Spectra Credit Union: Originally a resource for the Naval Research Laboratory employees and their families, Spectra Credit Union ($564 million in assets; 26,162 members) opened its doors to the wider community and changed its name and logo in 2021 to honor its history while also positioning it as an inclusive credit union. Formerly Naval Research Laboratory Federal Credit Union, Spectra has embraced a broader mix of savers and borrowers of different ages, ethnic backgrounds and banking needs. More than 60% of Spectra’s staff is made up of people of color and 65% are women, including its chief executive officer. All of Spectra’s services and corporate communication are accessible to Spanish speakers - including offering a Spanish speaker at each of its offices – and its advertising campaigns are always translated to Spanish. Spectra also specifically reaches out to the LGBTQIA+ community through advertising in targeted publications and as well as including inclusive images in marketing materials.

Coastal Credit Union: Recognizing that it operates in a community of increasingly diverse members and employees, Coastal Credit Union ($4.7 billion in assets, 314,039 members) decided that diversity, inclusion and belonging (DIB) needed to be more than an initiative. It needed to be a core value. Building on a longtime commitment to diversity, equity and inclusion, the credit union in 2019 enlisted Diversity & HR Solutions to help it build out its Welcoming Diversity core value and held leadership sessions to set its direction. Its action plan included diversity training for its entire staff as well as listening sessions focused on racial injustice and unity. Additional steps have included the creation of a new senior-level culture and impact role, an employee-led diversity, inclusion and belonging committee, and DIB events such as a DIB book club and a cultural film festival. Coastal has formally adopted the 8th cooperative principle, and its nine-person C-suite includes four women and three people of color.