Make Ethical Practices a Public Point of Pride

  The most important thing to me for my financial institution is knowing that my money isn't wrapped up in the criminal and unethical behavior we see all too often.  It's one of the reasons I put my money in a credit union and not a bank, and why I would never touch Bank of America or other certain corporations caught funding narco trafficing, buying politicians, and making predatory loans.  The best way to make sure I stay a BECU customer forever is really to make sure BECU visibly and truthfully aligns with real community values.  This means:

 

- BECU regularly addressing financial scandals that are in the news and stating their commitment to specific better behaviors

- Providing good financial tools and good treatment especially for small personal accounts and small businesses

- Never having lesser accessibility for people of color or redlined areas

- Telling members what businesses BECU is invested in, and making public promises as to what BECU will not invest in

- If/while BECU expands, doing what it takes to deliberately maintain an internal culture with these values - even to the point of slowing down if necessary

 

  Especially right now, what a lot of us do with our money is an ethical decision that defines or affirms part of our identity.  I'm sure plenty of people would phrase some of the above points differently, and I've seen BECU marketing aimed to create the feeling of being local and being diverse or small-business-friendly before as well.  But I want to know that my money is always being used to do the right thing, and I think there's a place in the market for BECU to do that.

2 Comments
Community Manager

Thank you, @KBG for sharing your thoughtful feedback. I believe you're right on the money; people are now more than ever, aligning themselves with brands that reflect their values. BECUs credit union philosophy of "people helping people" is at the forefront of all we do. We demonstrate our connection to this philosophy by supporting our members and the communities they reside through focused, strategic giving that aims to increase the financial health of all of our members. As we grow, we will continue to let that be our North Star.

 

We also believe that our member-owners should by aware of the current state of the credit union, which is why it's important to share information about our governance, quarterly and annual reports, and board of directors, right on our website, which you can access here.  We also share information on the latest security-related information, or really anything that is impactful to our members, through our social media platforms as well as through our monthly newsletter, and here in the MIX community blog

 

In addition to these things, what specifically would help you feel more confident in how BECU is representing our members and the credit union? JohnS 

Community Manager
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