Local Government Federal Credit Union, Civic Federal Credit Union, and the African-American Credit Union Coalition Launch 8th Cooperative Principle Microsite to Promote Diversity, Equity and Inclusion as Guiding Principles

1/28/2021

(January 28, 2021, Raleigh, NC) – Local Government Federal Credit Union (LGFCU), Civic Federal Credit Union and the African-American Credit Union Coalition (AACUC) have launched DEI Talks, a website to advocate for the proposed 8th Cooperative Principle that is focused on diversity, equity and inclusion (DEI). The Credit Unions and Coalition invite other credit unions and cooperatives to adopt the 8th Principle and demonstrate their support through the site.

The site promotes DEI as an expansion of the philosophical tenets currently embraced by cooperatives globally. The values of diversity, or plurality as it is often understood outside of the U.S., equity and inclusion are ideologies already ingrained within the cooperative community. Credit Union and AACUC leaders believe It is past time to declare these as guiding principles. 

“Cooperatives support the notion that every member of a community has an inalienable right to exercise the doctrines presented in the cooperative principles,” said LGFCU and Civic Chief Executive Officer Maurice Smith. “I see an opportunity to reaffirm our values and explore new opportunities. 

“It is time to consider where diversity, plurality and inclusion for all of us stands today. I think the time is right to officially recognize the 8th Principle as part of the credit union and cooperative philosophy.”

Smith challenges cooperatives globally to become champions for the cause. The DEI Talks site allows for organizations to publicly pledge their commitment to the 8th Principle. Champions are able to display this commitment to diversity, equity and inclusion on the site, and are encouraged to promote the 8th Principle on their own websites and social media channels.

“These values of plurality will not be short-lived,” said Renée Sattiewhite, AACUC President and Chief Executive Officer, who emphasizes the importance of DEI as a Cooperative Principle. “It’s the right thing to do. DEI lines up with our core principles and values, and that is why it is lasting.”

The call to action by the Credit Unions and AACUC is for all cooperative communities to continue to embrace the values of DEI, and pledge their commitment to the 8th Principle at DEITalks.com.

Local Government Federal Credit Union serves North Carolina’s local government employees, elected/appointed officials, volunteers and their families. The $2 billion federally chartered Credit Union is a cooperative of more than 370,000 members associated with various facets of local government in North Carolina’s 100 counties and 546 municipalities.

Civic Federal Credit Union was created in response to changes in banking needs and advancements in financial services. With technology that makes it easier to access money, Civic reaches members beyond the branch. Civic has a decidedly local focus, serving the employees and volunteers of local governments in North Carolina as well as its small business community.

The African-American Credit Union Coalition is a 501(c)(3) nonprofit organization. AACUC is comprised of professionals and volunteers in the credit union industry. The organization works to promote personal and professional growth of its members and advocates to improve the economic development of communities that are often underserved. AACUC supports programs that include expanding the interest and increasing the number of minorities in the credit union movement, and increasing outreach of the credit union movement in African countries and in the United States through mentoring, scholarship programs and more.

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