HCUA and HCUCF boards adopt the 8th cooperative principle

Published 12.16.21

 

Many of us are familiar with the seven cooperative principles. Through the adoption of a new 8th cooperative principle — diversity, equity and Inclusion — we demonstrate that DEI initiatives are not just the right thing to do morally and socially, but also make good business sense.

The seven original cooperative principles are a set of philosophical tenets illustrating cooperatives’ core values, economic model and governance practices. The application of these principles into everyday operations distinguishes cooperatives from other organizations. Absent from these principles, however, is a specific focus on DEI.

Through the adoption of a new 8th cooperative principle — diversity, equity and inclusion — we seek to demonstrate that DEI initiatives are not just the right thing to do morally and socially, but also make good business sense. The Heartland Credit Union Charitable Foundation (HCUCF) Board adopted the principle at their board meeting this week. The HCUA Board adopted the 8th principle a few months ago. 

HCUA is focusing more on DEI and how it relates to financial well-being for all. A DEI Task Force has been formed comprised of credit union professionals who are leading the charge in diversity and inclusion at their organizations.

The 8th cooperative principle:
Diversity, equity and inclusion — Cooperatives seek to incorporate diversity, perform equitably and ensure inclusion at all levels of their organizations to better serve members, show members they are valued and ensure members receive equitable service.