Ideal Credit Union’s Post

There are persistent disparities in business outcomes for business owners from ethnic minority backgrounds. ➡ After starting a business, Black business owners have median turnover of just £25,000, compared to £35,000 for White business owners. ➡ Only half of Black entrepreneurs meet their non-financial aims, compared to nearly 70% of White entrepreneurs. ➡More than a third (37%) of Black female business owners report making no profit last year, compared to 16% of White male business owners. Are you a Black owned business? Learn more about how to showcase your business and connect into local networks at this upcoming event with West Yorkshire Combined Authority and Lloyds Bank. Details below...

Yes! All of you! All of you get to come to NYC with me later this week! but which pair of you will be joining me next week at the National Credit Union Administration, NCUA DEI Summit 2023 in Washington DC? Holy Imposter Syndrome! I am speaking to a group of Presidents, CEOs and Leaders from Credit Unions around the country. I was hired to speak several months ago for this event but as the weeks have gone by, I have had this reoccurring vision of people in blue suits and conservative ties looking at me thinking, SHE HAS GOT TO BE FROM MARS! (No offense Aliens) This reoccurring vision prompted me to reach out to the event organizers last week to ask them if I need to tone down my whole jam and W.E.I.R.D. framework on belonging at work. You know, like wear pantyhose sensible, mid-heel pumps a black or navy skirt suit AND take my pop-art out of my slide deck Ya know, be everything I'm not to try to fit in to my made-up and perhaps very biased version of what people who work for credit unions think and dress like. The event organizers responsed, "Absolutely Not!" I felt so relieved and while I may not be the best at very many things, I'm the best at being me! And hey, that's what people want from work! When we feel safe to choose our level of authenticity, that's when we experience a sense of belonging at work! And so - I'M BRINGING ALL THE WEIRD to share my talk, "The Belonging Equation." Even people who may or may not think I'm from MARS need to belong and need to foster the experience for others to succeed personally, professionally and organizationally. So who's coming with me? (Do I need to do a shoe change in the middle of my talk?) #dei #belonging #work #culture #leadership

✈ Let me tell you where I was last week! ✈ I went to Minneapolis to speak on a panel for the National Credit Union Association’s DEI Summit on Sustaining DEI with a Diverse Board. This year's theme was Here to Stay! I was joined by my colleague Stephanie McCaine as representatives for the Hudson Valley Credit Union, Amy Nelson, Oscar Porras, I- CUDE, and Peter Hand, who represent Point West Credit Union. The phenomenal Lynette Smith from Quantum Governance, L3C was our moderator. 🥡 Here's my 3 takeaways from the session 🥡 ☑ Commit to the DEI discipline on a board level. Financial inclusion is the responsibility of all credit unions as a "cooperative of people helping people." The purpose is to create pathways for access and sustainable prosperity for everyone, no matter their socio-economic status or identity. How will your board be a catalyst to bring this to fruition? ☑ Elect Board Members who reflect your membership (or desired membership); admittedly, your Board may never fully represent your community, but that doesn't mean you shouldn't try. Solicit candidates based on skills and gaps (even cultural ones) required to meet your business, #equity, and #inclusion goals. Board members serve as a critical voice in the management of the organization and need to be equipped with the people and tools to deliver impact. ☑ Don't stop. Despite the distorted rhetoric around DEI, lean in. Ensure management bakes it into their strategic plans, regularly reports on progress, and that you hold each other accountable. You can only do this by creating an environment of trust and mutual understanding, so don't be afraid to have a frank dialogue about what is being done well and what needs to be improved. Everyone is at different starting points, and that's okay. Just keep moving forward and aspire to be better than before. There are so many more takeaways, but I have to watch the video to remember! It was incredibly inspiring to be surrounded by so many people who truly cared about the importance of creating financial inclusion for all and saw DEI as their responsibility as major financial institutions serving their communities. NCUA Chairmen Todd Harper said it best, "If done correctly, diversity, equity, and inclusion initiatives can and will narrow the income gap, support a robust and growing middle class, advance equity, and make our democracy stronger and more resilient." ➕ BONUS ➕ : It also happened to be the week of the Gala Choruses Festival, which attracts the LGTBQ+ community, so the city was brimming with people from across North America and the world, plus all those who came to the DEI Summit. It was truly spectacular to see so much diversity in one place and be enveloped by Minnesota's niceness! Photo credit: Thank you to the wonderful woman who shared this photo with me. #NCUA #HVCU #DEI #Boards #Leadership #NCUADEISummit2024

A great first meeting at Vista.👍 We are a law firm covering many aspects of law. The best thing of all is that we offer our initial advice at no obligation nor cost to the potential client #commerciallaw #mediation #conveyancing #willsandtrusts #powerofattorney #bni #bniglobal

We need your feedback! 👋 We’re supporting Lloyds Bank to improve their understanding of the landscape for Black Entrepreneurs by sharing a survey. As valued members of the Foundervine community, we believe you can provide integral insights that will delve deeper into the trust between banks and business owners. 🧡 To better help shape the future of these relationships, Lloyds are looking for participation from black business owners, those with part-time business interests, and future black entrepreneurs. Topics covered in the survey will be about you and your business or future business, your perception of the banks you use for your business, exploring access to finance, and your perceptions of the support available to you following the publication of the Black. British. In Business and Proud. report. 📅 Survey closes 5th December, 2023 🔗To have your say, click the link below and complete the survey. https://bit.ly/49XxSWH Note: The survey will be anonymous, though there is an opportunity to provide details for follow-up.

A great first meeting at Vista.👍 We are a law firm covering many aspects of law. The best thing of all is that we offer our initial advice at no obligation nor cost to the potential client #commerciallaw #mediation #conveyancing #willsandtrusts #powerofattorney #bni #bniglobal

Delighted to announce that tomorrow Known Source will be pitching in the final of the Channel 4 and Lloyds Banking Group Bank Business & Commercial 'Black in Business' competition 🎉 We are beyond proud to have made it into the final 10 from over 1,000 applicants. The winners receive £100,000 worth of TV adverts on Channel 4, along with a tailored support program from Jamii and Does ... A truly life-changing opportunity for Known Source and our community. As always, our Dealer community is at the heart of everything we do. It is their stories, along with their passion and expertise for second hand fashion which has got us this far. If we win, we can’t wait show their faces on National TV! The need for this kind of initiative is clear: last year The Good Side revealed that 56% of Black owned businesses only received funding once they had already grown a successful business, compared to just 35% of white owned businesses. Let's hope that more institutions follow Channel 4 and Lloyds’ example in empowering Black founders. Cross your fingers for us 🤞

U.S. Bank Wealth Management President Scott Ford gives his tips on building wealth at the 39th annual Black Excellence Awards. The theme of the event was “Value, Values and Excellence: Making Your Assets Count.”  #usbank #usbancorpinvestments #wealthmanagement

Black small business owners and their communities have faced extraordinary challenges over the years. SCORE is renewing our commitment to being part of the solution. https://bit.ly/3WE3KaF #BlackBusinessMonth

A Year of Reflection: Balancing Corporate Success and Entrepreneurial Growth As this year ends, I find myself reflecting on a journey that's been both fulfilling and transformative. For over 27 years, I've been part of Mississippi's largest credit union, an experience that has enriched my life with successful team-building and invaluable lessons in leadership. You will often here me say, "the grass is definitely greener here," and I truly mean it. The unwavering support and commitment of this organization, especially during my family's challenging times, have been nothing short of extraordinary. Life, however, has its turns that led me to explore additional paths. With my husband's illness, the need to secure our family's future became more pressing. Leaving my role at the credit union was not an option – the love for my job and the organization's commitment to us were irreplaceable. However, the desire to do more for my family's financial security led me down an exciting, parallel path of entrepreneurship. That's when LimeLife by Alcone entered my life – a company whose culture and values resonated deeply with me. They prioritize family, support one another unconditionally, and encourage everyone to confidently chase their goals. Today, I proudly balance my career at the credit union with growing my business at LimeLife, blending my passion for mentorship and team building in both realms. Looking ahead, I am excited about continuing to nurture my dual roles. My journey is a testament to the power of resilience, the importance of supportive communities, and the beauty of pursuing multiple passions. I'm eager to connect with others who are juggling similar paths, or anyone inspired by the blend of corporate roles and entrepreneurial ventures. Here's to embracing every twist and turn life offers and to the promising road ahead! #ReflectingOnTheYear #CorporateAndEntrepreneurialLife #TeamBuilding #Resilience #LookingAhead