NAFCU Journal May June 2021

34 THE NAFCU JOURNAL May–June 2021 I f you could bring to mind one word to capture our collective response to the COVID-19 pandemic, what would it be? For me, that word is resolve. Resolve, determination, a collective will to survive and thrive. As a small credit union on a remote island in the Pacific (Hawaii is the most isolated land mass on earth), our community has trusted us to steer them through crises, from horrific flooding in 2018 to COVID-19, a mere two years later. The COVID crisis—this great reset—has revealed systematic vulnerabilities in our food supply chain and shown racial, gender and economic inequality in stark relief. No one, in any income bracket, as we undergo mass vaccination, can pro- fess immunity. It has touched us all. This is an inflection moment. A time for change. In Hawaii, it means a turn toward regenerative tourism. Globally, I believe it presents a true coming of age for the credit union movement. Kauai can serve as a model for this change. There is a tradition here called Hukilau. We pool our resources for the good of the island. No one is left behind. Founded in 1947, our small credit union embraces the Hukilau tradition. Our interdependency breeds a fearless spirit grounded in a heartfelt love for the land—and a communal sense of respon- sibility to care for it. Like economist Kate Raworth, I believe economies should be designed to thrive—and allow us all to thrive with it—rather than focused solely on growth. The pandemic has proven this to be true, especially in the Hawaiian Islands. We need to use local ingenuity to meet local challenges. A notable example is our partnership with Common Ground, a vertically integrated food innovation centre that supports farming along with incubator, accelerator and distribution programs for local food entrepreneurs. I can offer many examples of successful small business pivots on Kauai over the past year. Fifth and sixth generation busi- nesses that have stayed open, competing with online goliaths. Businesses with a deep sense of kuleana (responsibility) for employees and future generations. New businesses, scaling up and committed to the sustainable use of finite resources. I believe the emergent societal change runs even deeper. In times of crisis, priorities can be over- whelming, but challenges lead to greater clarity of purpose. In the past year, we have fed over 1,200 households, provided over $5.6 million in rent relief and funded over 650 Kauai businesses. Many are women-owned businesses and through “school at work” options for local families, we’ve enabled parents to maintain their childcare obligations while coming to work every day. Banking with KGEFCU strengthens the social fabric of our island, sustains our economic independence and empowers our families with financial freedom. We show up and take care of our community in a way no one else does. More than a local banking solution, we function as a “cultural commons.” In 2020, COVID became the driver for new pro- grams such as “Pau Hana with a Purpose” (an after-work business get together giv- ing local business owners an opportunity to talk candidly about their issues) and SOCIAL ENTREPRENEURSHIP IS THE ANTIDOTE TO COVID-19 By Monica Belz, president and CEO, Kauai Government Employees Federal Credit Union MANAGEMENT INSIGHT CDFI and other public private sector partnerships will drive growth and recovery This is an inflection moment. A time for change. In Hawaii, it means a turn toward regenerative tourism. Globally, I believe it presents a true coming of age for the credit union movement.