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Jun 4, 2024

Building Stronger Communities Through DEI

Sponsored Content provided by Sarah Stone - VP Retail Experience, Excite Credit Union

The world is beautifully diverse, filled with different cultures, languages, and perspectives. Celebrating this diversity isn't just the right thing to do—it's also a smart business move! Embracing diversity, equity, and inclusion (DEI) brings organizations closer to their customers and communities all while driving growth, innovation, and overall success.
 
The Value of DEI 
 
Maintaining the commitment to diversity, equity, and inclusion gives organizations several advantages:

  • Enhanced creativity and innovation – Providing different perspectives spurs creativity. Bringing together individuals with different backgrounds and experiences broadens the range of ideas, which can lead to more innovative solutions.
  • Better decision-making – Diverse teams are more likely to consider a wider range of options when making a strategic decision. Differing viewpoints reduce the chance of striving for decisions that promote conformity rather than considering the unique needs of the customer base or community. 
  • Better collaboration and problem-solving – Inclusion leads to enhanced team dynamics and more effective collaboration and communication. The communication of these diverse viewpoints encourages critical thinking and approaching any challenge from multiple perspectives. Individuals with diverse backgrounds are more likely to thoroughly examine a problem and develop various solutions.
  • Better engagement and satisfaction – Committing to equity shows that an organization values all employees, creating a more positive and supportive environment that fosters growth and development for all. When team members know their contributions matter, they are more engaged and committed to their work.
  • Better employee retention –An equitable and inclusive workplace allows team members to feel valued and respected. Creating an inclusive work environment promotes a stronger sense of loyalty and belonging, reducing turnover while building a more cohesive and experienced team.
 
Credit Unions and Diverse Communities
 
Credit unions are member-owned, not-for-profit financial institutions that operate for the well-being of their members, who come from diverse backgrounds and experiences. A strong DEI philosophy ensures that a credit union’s team reflects the diversity of the membership and helps better understand the financial needs of its members.
 
The credit union industry motto "People Helping People" profoundly aligns with the principles of Diversity, Equity, and Inclusion (DEI), as both advocate for collective empowerment and mutual support. 

At Excite Credit Union, The Community’s Credit Union, our Team Members’ diverse backgrounds and life experiences help them better understand and serve our Members.
By embedding DEI into its organizational culture, we not only acknowledge but actively embrace the diverse backgrounds, perspectives, and needs of our Members and Team Members. This commitment to inclusivity ensures that everyone, regardless of their identity or circumstances, has equitable access to financial services and opportunities for growth. It fosters an environment where diverse voices are heard and valued, which enhances collaboration, innovation, and the overall sense of community. Thus, the "People Helping People" principle is intrinsically strengthened through a DEI framework, as it builds a more compassionate, just, and effective organization dedicated to serving all its stakeholders.
 
For business owners, embracing DEI is not just about doing the right thing—it's about leveraging the full potential of your workforce to drive business success. Diversity brings in fresh perspectives, equity ensures fair opportunities, and inclusion fosters a supportive and collaborative environment. Together, these elements create a robust organizational culture that can adapt to changing markets, attract and retain top talent, and achieve sustained growth. By making DEI a core part of your business strategy, you position your organization for long-term success and resilience.

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