African-American CU Coalition’s Racial Justice Initiative Secures Financial Commitments
Two CUs and PSCU pledge support for the AACUC’s effort to educate financial professionals on racism, diversity and inclusion.
Amid protests for racial justice, the African-American Credit Union Coalition (AACUC) has called on credit unions around the U.S. to join an effort to address racism head on – and a few are already stepping up to the plate.
The AACUC announced that several credit unions in North Carolina and Florida pledged financial support for the initiative, which is named “Commitment to Change: Credit Unions Unite Against Racism.”
The initiative aims to launch a Diversity Equity and Inclusion Leadership Academy for Financial Professionals (DEI Academy), which will include an interactive program offered four times a year, focusing on diversity, inclusion and understanding racism in U.S. It also plans to create a space for AACUC members to have frank virtual discussions around current events and the experiences of people of color, including the emotional and psychological impact of racial injustice, police brutality and how to bring about sustainable change.
Among those supporting the initiative are two Raleigh, N.C.-based credit unions: The $42.8 billion State Employees’ Credit Union, which donated $125,000 to the DEI Academy, and the $3.5 billion Coastal Credit Union, which pledged $50,000 for the effort. In a press release announcing the financial commitment, Coastal President/CEO Chuck Purvis said the credit union is “not just supporting the initiative. We’re taking it to heart and looking inward to see how we can do more ourselves.”
Outside of North Carolina, PSCU in St. Petersburg, Fla., also pledged $20,000 to the effort. Like a number of credit unions, PSCU already provides “in kind support” to the initiative.
In a press release announcing the financial commitments, AACUC President/CEO Renée Sattiewhite noted that credit unions have a role to place in combating racial injustices.
“I am convinced more now than ever that the credit union industry can lead the nation in eliminating racial discrimination. Credit union people do not have all the answers, but as practitioners of financial institutions, we have a commodity that everyone needs.”