![]() "These initiatives are rooted in the idea that we should orient ourselves around the needs of our members and community, not the other way around," Armijo said.Īrmijo believes that for credit unions interested in putting younger, more diverse talent in the C-suite, "board chairs and CEOs must shift perspectives, no longer settling for avoiding discrimination in the workplace, and adapting an active posture around inclusion," she said. Companies that partner with Amplify can access these resources through Banzai, a virtual financial education platform. Staff members go out into the local communities to provide the employees and clients of interested organizations with resources for financial education. In addition to spearheading the debut of Amplify's inaugural virtual branch, Armijo helped launch the credit union's community banking program. This, and new partnerships with local non-profit organizations, will help the credit union provide communities with the aid they need, Cohen said. Cohen helped establish a cross-functional team of employees from risk, marketing, public relations and other divisions to better understand the scope of damages to members and craft a more focused message in order to better provide help. "Risk, the understanding of risk and the impact that decisions may have on the organization or the membership, is something that all employees of the organization should understand, as well as consider in their decision making," Cohen said.Īffinity's past procedures for helping members recover in the wake of natural disasters were disjointed, with individual departments reaching out to impacted communities independent of one another to check in and offer support. ![]() Overall, I think it affirmed our mission and our purpose, that we were on the path toward helping people in achieving financial wellness."Īfter witnessing the impact of the banking crisis this year, and seeing industry-wide pullback in consumer lending, Cohen and other leaders at the credit union dedicated more time to conversations about risk thresholds and began reevaluating how much the credit union was comfortable taking on. Most credit unions, including Golden 1, are federally insured. "In many ways, the crisis was about consumers' trust. ![]() "A lesson learned from the banking crisis earlier this year is that credit unions are part of the solution," Bland said. Among those are the impact artificial intelligence is having on the industry, the challenges of managing a hybrid workforce, and consumers' wariness following this year's banking crisis. Though these credit unions serve different constituencies, they share common challenges. They join Mary McDuffie, who heads Navy Federal Credit Union, the largest credit union in the world, and Donna Bland, president and CEO of Golden 1 Credit Union, as leaders of the nation's top 10 credit unions by assets. Leigh Brady became SECU's CEO in June and is the credit union's first female CEO. Currently, four of the top 10 credit unions are run by women - double the number of female CEOs leading top credit unions last year.īeverly Anderson became president and CEO of BECU in November 2022, just days after American Banker published its inaugural Most Powerful Women in Credit Unions. The credit union industry's commitment to diversity is evident from the top down.
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