WASHINGTON-As the nation remembers African-American Civil Rights leader Martin Luther King Jr. and swears in its first African-American president, Credit Union Journal asked the African American Credit Union Coalition to reflect on the contributions people of color have made to the credit union movement.
Current AACUC Chairman Barbara Stephens offered insight into the role African Americans have played and how that role changing in this special edition of the CUJ Q&A.
CU Journal: As credit unions celebrate their 100th anniversary here in the U.S., what are some key contributions African Americans have made to the credit union movement?
Stephens: The efforts and achievements of American Americans over the last century are all noteworthy. Many are captured and on display as a part of the African Americans in the Credit Union Movement, the First 100 Years Exhibit.
Listed below is a sampling.
* Thomas B. Patterson, a county agent stimulated the leaders in Rowan County, North Carolina to open the 1st credit union for African Americans in the U.S. in 1918.
* Pete Crear was the first African American to become President and CEO of the World Council of Credit Unions. Crear has also served in many 1st categories as it relates to credit union Leadership positions in the Credit Union Movement.
* William Porter was the first African American to be President and CEO of a credit union with more than 1 billion in assets.
* Creation of the African-American Credit Union Coalition (AACUC) to promote education and inclusion in the credit union movement.
* AACUC's annual conference and programs, the Reaching Toward the Future Internship Program, the Mentorship Program, the Scholarship Program and the Community Development Fund.
* The Martin Luther King Monument Credit Union Contribution. Spearheaded by Hubert H. Hoosman, Jr., the AACUC encouraged credit union throughout the US to collectively donate more than 1 million dollars toward the building of the monument.
* Headed by Helen Godfrey Smith on behalf of the AACUC, the creation of the African American Credit Union Exhibit displayed in the America's Credit Union Museum.
CUJ: Looking forward to the next 100 years, how do you expect the role African Americans play in the credit union movement to evolve?
Stephens: During the next 100 years African Americans will continue to play a pivotal role in the credit union movement. There will always be a need to serve all people of all races. African Americans will continue to be innovative, creative and resourceful. There will be more leaders, African Americans will lead organizations such as state leagues, CUES, NAFCU and CUNA.
CUJ: This week the country will inaugurate its first African American president, but the number of African Americans in the ranks of credit union management remains small. Why, and what progress is being made?
Stephens: The number of credit unions in the United States is shrinking. African Americans in cu management are small in number, but mighty in heart. The AACUC recognizes this problem and is currently undertaking a Professional Progression Development Plan to provide members with the necessary professional development training and mentor relationships that could lead to more African-Americans moving into leadership positions in the credit union movement. It has only been over the last few years that African Americans have been considered to be part of the main stream of the credit union movement. I attribute that to the mission and the efforts of the AACUC. It is almost a commonplace to see African Americans and other minorities and women in CU Trade publications, and also being honored with awards such as Robert "Bob" Harvey, Jr., CUES Professional of the Year; Pete Crear, Herb Wagner Lifetime Achievement Award Recipient and Rita Haynes, Herb Wagner Individual Achievement Award Recipient. So there is progress being made.
CUJ: What goals does AACUC have for 2009?
Stephens: (1) Implement a Professional Development Progression Plan; (2) Increase the number of students, colleges/universities, credit unions participating in the Internship Program; (3) Increase AACUC membership and outreach by establishing regional chapters.
CUJ: Please provide an update of the efforts to build the MLK memorial.
Stephens: The MLK Foundation is waiting on building permits with the hope of the project starting before spring 2009. They estimate 18 to 24 months of construction with completion by end of 2010. Early 2011, they will have the dedication ceremony if all goes according to plan.
