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NCUA’s Harper calls on credit unions to advance racial equality

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Thursday, June 18, 2020

In an address to the Illinois Credit Union League’s Virtual Town Hall Meeting on June 11, National Credit Union Administration (NCUA) Board Member Todd Harper called on the NCUA and the credit union industry to take action to advance economic equality and justice.

He said the protests in support of Black Lives Matter were the product of centuries of frustration and repression.

“Civil rights and human rights are core American values, and I fully embrace them. I also believe deeply in equality,” he stated. “That’s why the brutal killing of George Floyd shocked and sickened me. To his grieving family and friends, those of the foremost importance, I have offered my heartfelt condolences for a life together, cut short.

“For the African-American community, the circumstances of Mr. Floyd’s death are unfortunately far too familiar. As a leader at the NCUA, I cannot respond by just saying, ‘we need to do better’ or ‘we must do more.’ Those lines rightfully ring hollow to communities of color. They are empty promises. To achieve real, sustainable change, I, like each of us, must take action within my sphere of influence.”

His remarks focused on four ways in which NCUA would work to address the issues:

  • Building diverse and inclusive workforces and supplier chains,
  • Enhancing support for minority depository institutions,
  • Enforcing fair lending laws, and
  • Funding initiatives aimed at closing the wealth gap

Harper stated that diversity, equity and inclusion were necessary for the success of the credit union system.

“Diversity, equity and inclusion also elevate not only the agency’s ability to better understand and supervise credit unions, but also a credit union’s ability to add members, hire effectively, and create the products its members need,” he stated. “As a leader at the NCUA, I am committed to fostering diversity, equity and inclusion. I believe that our agency’s greatest resource is its workforce. As such, I value the diverse perspectives, skills and talents of our workforce because diversity is a strength. Intentionally nurturing an inclusive environment will lead to every employee contributing to his or her fullest potential. And, I believe that the agency must have zero tolerance for any racism and discrimination.”

Harper referenced his own upbringing in his understanding of institutional racism.

“I recognize our society’s historic, systemic and institutional racism toward African-Americans and black communities. Growing up outside of Chicago in the 1970s and 1980s, I saw people treated differently because of the color of their skin,” he stated. “I heard racially charged slogans like ‘Before It’s Too Late,’ which Bernie Epton used in his campaign to try to prevent Harold Washington from becoming the city’s first African-American mayor. Additionally, I saw how segregation at housing projects like Robert Taylor Homes and Cabrini-Green resulted in a lack of economic opportunity.”

Harper said he pursued a path aimed at inclusion in his life, choosing to live in a public housing project as he was in graduate school in Boston.

“My partner and I chose our church for its multicultural congregation, which celebrates diversity and worship with people of all races, and I have mentored first-generation college students of color to help ensure their success at school and in life,” Harper stated.

He noted that before the current movement began, the Credit Union National Association embraced adding diversity, equity and inclusion as the eighth principle of the cooperative movement.

“I salute them. What is more, in my efforts to get into the field and learn more about credit unions, I have learned about efforts of the credit unions around the country to meet their members where they are and to develop and support innovative initiatives aimed at creating economic equity and opportunity,” he stated.

“I know, however, that the best ideas will often come from others. So, I am currently engaging with others at the NCUA, in the trades and at credit unions. That is why I want to hear your ideas based on your own life experiences for what more the NCUA can do to advance economic equality and justice. I am listening to you today, and because black lives matter, I won’t give up the fight to improve our country and create the ‘more perfect union’ that our founders envisioned.”

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