Favorite Parts Of Working In The Credit Union Industry As A Vice President Education And Social Impact
Amanda enjoys the unique nature of the credit union industry, highlighting that it is "built specifically to support different types of industries or regions" and driven by a "responsibility... to do good people helping people," which includes providing services to underserved communities as exemplified by the credit union formed to support Japanese Americans after World War II when they could not obtain banking products elsewhere. Amanda's role in education and social impact is therefore deeply intertwined with the core mission of credit unions to serve their members and communities in ways that traditional banks may not.
Financial Services, Community Development, Social Impact, Non-profit, Credit Unions
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Amanda Garcia-Merz
Vice President, Education & Social Impact
California Credit Union League, Nevada's Credit Unions and the Utah Credit Union Association
Sacramento State
English, Writing & Education
Finance (Banking, Fintech, Investing)
Education
Worked 20+ Hours in School, Transfer Student
Video Highlights
1. Credit unions are not-for-profit cooperatives owned and managed by their members and a volunteer board of directors, distinguishing them from traditional banks.
2. Credit unions have a responsibility to support not only their members but also the broader region they serve, embodying the principle of 'people helping people'.
3. Credit unions were often founded to address unmet needs within specific communities, such as providing financial services to Japanese Americans returning from internment camps after World War II.
Transcript
What do you enjoy most about being in your industry?
The credit union industry is unique. While we are "banking" as a verb, we differ from traditional banks in several ways. A credit union is a not-for-profit cooperative.
We are owned and managed by our members, with a volunteer board of directors. Credit unions are specifically built to support different industries or regions. Some credit unions still support teachers and administrators within an area, while others are open to anyone living within a certain geographic radius.
This specificity allows us to serve our members precisely. With that comes a great responsibility to ensure we support not only our members but also the broader region significantly.
Credit unions have a responsibility that is in our DNA: to do good and help people. Think about some of the earliest credit unions; they were created by people like us who identified a need not being met by the traditional banking industry.
For example, in Southern California after World War II, Japanese Americans returning from internment camps couldn't get banking products to rebuild their businesses or buy property. A credit union was formed by Japanese Americans to specifically support their community's needs. That is how credit unions began.
I love that origin story because it highlights our understanding of the service we provide. We ensure we are not engaging in practices that other financial partners may have engaged in historically. We actively stay away from those types of practices.