What’s in a Name? A Credit Union's LGBTQ Program Finds a Wider Audience

Source: American Banker

Credit unions that tailor services for members of the LGBTQ community may find an unmet need among other demographics as well.

Michigan State University Federal Credit Union in East Lansing, Michigan, is nearing the finish line on development of a feature within its digital banking platforms and card offerings that will allow members to set a preferred name and set of pronouns. The program, which is expected to go live before the end of the third quarter, is like many others that allow credit card users, for example, to put their preferred name on the card.

While such services are developed with transgender and nonbinary audiences in mind, they also appeal to other marginalized groups such as international students or indigenous persons, said Amanda Denney, director of diversity, equity and inclusion for the $6.8 billion-asset MSUFCU, which serves students and staff of the university, as well as employees of the state.

“We have a lot of international students that come over and actually pick Americanized names, and they do this for a number of reasons, but that project is helping that group of people too,” Denney said. “When we hear preferred names and pronouns, people automatically jump to LGBTQ+, but there is such a huge impact [with this project] across the board with really anyone.”