Credit Unions, Keep the Vaccine Mandates Coming

It’s been an emotionally deflating summer – and the most frustrating part about it is knowing that it didn’t have to be this way.

In the midst of a pandemic that has destroyed businesses, killed 622,000 Americans, and damaged the physical and mental health of many more, we have a safe, effective and free tool available that can help pull us out of the dark hole we’ve been sitting in for the past year and a half. But the COVID-19 vaccine has not been greeted with enough pairs of open arms to slow the pandemic. Disinformation has spread like an Oregon wildfire, tricking vulnerable people into believing the vaccine is dangerous. And businesses have been slow to mandate vaccination for employees and visitors, which has enabled the unvaccinated and pushed the pandemic’s end even further into the distance.

This is happening in a country where we have laws in place that require us to wear seatbelts in moving cars, refrain from driving drunk and smoking in indoor public spaces, and vaccinate children against a number of deadly communicable diseases before enrolling them in school. It is widely accepted that not only do these laws protect the individuals who follow them, but those around them as well. Yet, somehow, the idea of mandating COVID-19 vaccines is controversial because a portion of the population is either grossly misinformed, or would rather get sick and possibly die (and spread the virus to others who could get sick and possibly die) than be told what to do.

Like pins to all the jumbo swan-shaped pool floaties across America, the Delta variant began bursting summer dreams in mid-July, and the team at CU Times began wondering how the latest surge might impact all the in-person credit union conferences that were planned for August through December of this year. We thought we might receive word of cancellations or moves to a virtual-only format, or perhaps a proof of vaccination or negative COVID test requirement for attendees. Instead, all event organizers we made contact with said their shows would go on with safety protocols such as masks, distancing and the use of outdoor spaces.

It’s easy to understand why these event organizers would hesitate to cancel. They may be locked into contracts with venues or speakers. They probably have large groups of registrants who, after holding off on attending conferences for over a year, made the decision that the benefits of participation (a mental health boost, professional advancement) were worth the potential risk of contracting COVID. Still, it’s hard to shake the unsettling feeling that comes from knowing our colleagues are essentially attending these events “at their own risk.”

Next, we reached out to 11 of the largest credit unions by asset size to see if they were considering a vaccine mandate for onsite employees. We figured that if the big tech companies were the first to announce vaccine mandates, which were quickly followed by a string of announcements from smaller businesses, organizations in the credit union space might follow the same pattern.

While not one of the credit unions from that Top 11 group has announced a vaccine mandate, one day last week three credit unions – the $1.9 billion Allegacy Federal Credit Union in Winston Salem, N.C., the $1.7 billion Credit Union of Texas in Allen and the $2.2 billion Hawaii State Federal Credit Union in Honolulu – were brave enough to be the first to reveal news of a mandate. According to Eric Pointer, president/CEO of CUTX, “With the continued risk of COVID-19 and the rise of new variants, we want to play a role in supporting our communities’ vaccination efforts and provide our members with safe locations staffed by fully vaccinated team members that they can feel comfortable visiting.”

At press time, those were the only credit unions we were aware of with a vaccine mandate in place. Maybe once the FDA officially approves the vaccines, we’ll start hearing of more. It’s also possible that some credit unions have informed their staff of a vaccination requirement, but chose not to share it with the media. In any case, the fact that we only know of three that are doing it means not nearly enough are.

The reasons for choosing not to impose a mandate are valid – while the Equal Employment Opportunity Commission’s recent guidance allowing employers to require vaccination for their workers means litigation is no longer a risk, employers are concerned about backlash, attrition and turnover, according to a survey from Gartner Inc.

If a credit union’s leaders know their membership and employees well, and believe that a vaccine mandate will result in a significant loss of members and/or employees, they may choose to protect themselves from those losses and hold off. And in a labor market that currently favors job seekers over employers, talent isn’t something many credit unions can afford to let go of. However, making that choice sends the clear message that the organization has prioritized its own interests over doing its part to end the pandemic.

For those that are on the fence, consider the many benefits of a vaccine mandate: Your employees won’t have to worry about distancing themselves or wearing masks around each other all day in the office, moving them a step closer to normalcy. You’ll reduce the risk of positive COVID tests among staff, eliminating the need for disruptive quarantines and further employee testing. You may attract new members and talent who want to work or do business in a place where they can feel confident they won’t be infected. And most important of all, you’ll help keep your employees, members and every one of their contacts from getting very ill or dying.

Of course, a number of factors must be weighed before implementing a vaccine mandate. A recent Inc. article did a good job of outlining key considerations for businesses:

• Create a statement of need: The business should create a written statement that says it is implementing the mandate in order to keep its onsite employees and visitors safe.
• Set a timeline: It’s important to give employees adequate time to get their doses. According to , three months is reasonable.
• Note exceptions: Businesses must comply with the Americans with Disabilities Act and exempt employees who have a medical condition that prevents them from receiving the vaccine. They must also exempt employees who cannot get it due to “sincerely held religious beliefs.”
• Determine consequences: Termination is the most obvious consequence a business can put in place for employees who refuse to get the vaccine. Alternatives can include submitting to regular COVID testing or paying a higher health insurance premium, but these options are less likely to keep the business a COVID-free zone. The article also recommended rewarding employees, including those who got vaccinated months ago, for complying.
• Consult a local employment attorney. There may be other state and local laws to consider when creating the policy.

If credit unions are all about supporting their communities like they say they are, it’s time for more of them to step up, demonstrate their concern for not just the financial health but the physical health of their communities, and say, “Get vaccinated or get out.”

Natasha Chilingerian is executive editor for CU Times. She can be reached at nchilingerian@cutimes.com.