Credit Unions and Repentance

Many if not all major religions observe some form of repentance; a ritual action whereby the observant spends time recollecting the ways his or her actions may have offended others or the common good. The practice of conversion – referred to as metanoia, Greek for “changing one’s mind” - is followed by doing penance, seeking forgiveness, and expressing a resolve to change one’s behavior in the days ahead.

Repentance, or Tawbah, is also a very significant and beautiful part of the Islamic faith. Like in Christianity, it’s not just about feeling bad for doing something wrong — it’s a heartfelt return to God. In Hinduism, repentance is called prāyaścitta. It is observed through a mix of spiritual, moral, and ritual practices; a way to cleanse the soul, correct one’s course, and restore balance (dharma). In Judaism, repentance is a powerful, deeply sacred process known as Teshuvah, which literally means “return” — a return to God, to righteousness, to one’s best self. It’s central to Jewish belief, especially around the High Holy Days (Rosh Hashanah and Yom Kippur).

This week as Christians prepare for Easter and conclude their observance of Lent – 40 days of fasting, penance and metanoia – I’m prompted to wonder how such a similar observance of acknowledging one’s faults and desire to improve might influence and benefit credit unions.

I realize such a thought might be alarming to many, and maybe even considered disrespectful given all the wonderful and self-sacrificing work credit unions are doing for their members and the community. Then again, do we all consider ourselves and all our actions so very perfect that we need no recourse to metanoia?

Let’s take a moment and ask ourselves. Are credit unions doing all we can to assist the underprivileged? Do any of our actions fall under the umbrella of redlining? How do we treat and care for the thousands of employees who are the faces of credit unions to consumers throughout our nation? Let’s be honest, we’ve all heard the war stories and are aware of scenarios where our mantra of “people helping people” was not particularly top of mind when it came to decision-making and behavior.

Credit unions are about people. They are run by people to serve people. And people by their very nature are fallible. It’s part of our human condition. We all make mistakes. As a result, we all can and should resolve to acknowledge our shortcomings and do better.

Today, all people within the global community desperately thirst for justice, kindness, inclusion, and peace. By our cooperative examples of non-discrimination, democratic vote, cooperation, and concern for community, credit unions can be well positioned to help quench and satisfy that thirst. Of course, the degree to which we can respond largely rests on our willingness to make time to acknowledge our shortcomings, change our minds, correct our course, and restore the balance we seek to be our very best.

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Published April 17, 2025    |     The CU Daily