Here's How BECU Is Developing Talent and Supporting Communities
Brought to you by WBR Insights
Big brands are in a privileged position. They have the infrastructure and resources to reach out and help the people around them in a way that individuals do not.
This help may take the form of community outreach programs where companies venture outside of the walls of their offices and offer support to the people, places, and organizations around them. Or, it may manifest itself in talent development programs, where they help young people and/or people from all manner of backgrounds get ahead in their careers. The latter obviously has a quid pro quo benefit as developing talent can help these companies expand and diversify their own workforce while providing employment opportunities and security to those who take part.
Boeing Employees Credit Union (BECU) is one such company, and it's covering all bases with its scholarship training program and series of investments in local communities.
The BECU Foundation was set up to help the finance brand reach out and dedicate itself to worthy causes. This year, the foundation invited students to apply for a special scholarship program, designed to help our youngest and brightest citizens get the education and training they need to develop their careers in the finance industry.
The BECU foundation is awarding several scholarships - each valued at $2,500 per year - to full-time high school seniors and undergraduates currently enrolled in an accredited two-year, four-year, or technical college or university. The focus of these scholarships will be on those people and institutions which play an active role in supporting their communities - making sure the money goes to the most responsible and forward-thinking people.
BECU's philosophy of people helping people runs through the whole program, and any students who contribute their time, money, effort, and care to their communities were encouraged to apply for the scholarships which are renewable for two years - for a total of $5,000.
"As a not-for-profit credit union, BECU is committed to social responsibility," says BECU. "As a result, scholarships are awarded based on the student's commitment to community service as well as leadership and academic potential. Applicants are required to submit their hours of community service, grade point average, and current transcript. Applicants must also respond to short-answer and essay questions related to their commitment to higher education and how their community service exemplifies the credit union philosophy of people helping people."
Applications were only open to those students who are current BECU members - parents and guardians' accounts are not eligible - and those with a current GPA of 3.0 or higher. While BECU wants the most socially responsible students for the program, it also wants the hardest workers and those most likely to succeed and use the scholarship wisely.
Not only is BECU supporting the next generation of top talent, but it's also extending its reach and support to non-profits which are doing work to benefit their local communities.
This support took the form of the BECU Rewards which petitioned the credit union's members to nominate local non-profits which they deem worthy of receiving a cash injection from the financial brand.
"It is truly inspiring to see how non-profits are making a positive difference in their local communities," said BECU's Senior Vice President of Marketing and Cooperative Affairs, Tom Berquist. "As a not-for-profit credit union, supporting the organizations our members care about isn't just part of who we are, it is in our DNA. We created the People Helping People Awards to honor those who are making a difference."
The endeavor received over 600 nominations from its members, from which BECU selected 18 of the most deserving non-profits to receive awards totaling over half a million dollars. Individual organizations received between $15,000 and $50,000 across five categories - Member Volunteer of the Year, People's Choice, Employee's Choice, Past People Helping People Recipient's Choice, and Community Benefit.
Rain City Rock Camp for Girls - which empowers girls, women, and gender non-conforming individuals to develop creative potential through music, champion equity, and thrive in a community of allies and activists - was one non-profit that was granted an award. Another was Reading Partners, which partners with under-resourced schools and engages volunteer reading partners to offer one-on-one support to students who struggle with reading.
BECU's dual programs of scholarships and community outreach are helping to support people from all walks of life and will make the company a more attractive prospect for those seeking a career in finance. Young people today are just as concerned about the social responsibility policies of the companies they work for as they are about salaries, so these endeavors are a great way of hammering home the company ethos.
Company initiatives that drive social change is set to be a hot topic at HR Financial Services 2019, taking place this October at the Rancho Bernardo Inn, San Diego, CA.
Download the agenda today for more information and insights.