28 THE NAFCU JOURNAL March–April 2022 Diversity, equity and inclusion in a credit union is a two-prong strategy. The first step is to ensure that leadership and staff of credit unions reflect the communities they serve. The second step is to make sure that products and services provided reflects the specific needs of members and potential members in the community. Recognizing that input from the community is essential to identify new products and improve existing services. MariSol Federal Credit Union relies on an ongoing advisory committee comprised of five to seven people who are leaders and volunteers from the community. “Pre-COVID, we met with the advisory committee in person once each quarter,” said Robin Romano, CEO of MariSol Federal. In addition to talking about what products are needed, the committee also shares thoughts on opportunities to expand financial education in the community with suggestions on where and when outreach can happen. “We have been a Community Development Financial Institution (CDFI) since 2010, and our membership is very diverse, with about one-half of our membership Hispanic as well as a high percentage of the Black community since the credit union has historically been adjacent to historic Phoenix Black neighborhoods,” said Romano. While the credit union was always diverse, the higher percentage of Hispanic members was the result of an emergency merger with another credit union that was predominately Hispanic. “In addition to the community advisory committee, our employees are involved in community projects, boards and organizations that help us identify needs that are not being met.” One example of a “community need” is a loan to finalize the citizenship process, said Romano. “The package of forms and information is completed by the individual, but a check is needed, so these loans provide the certified funds needed to send with the citizenship application,” she said. “We also have a zero percent COMMUNITY INVOLVEMENT HELPS IDENTIFY UNMET NEEDS
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