WASHINGTON–The Filene Research Center has announced its newest Center or Excellence: the Center for Member Well-Being. The organization also announced new support for smaller CUs to access Filene’s resources.
The Center, Filene’s 16th such center, will be led by Dr. Ella F. Washington, an organizational psychologist with the McDonough School of Business at Georgetown University.
“Leadership has always been difficult. But what’s required of leaders has shifted in the last few years, said Washington in remarks during a breakfast session hosted by Filene in conjunction with Americas Credit Unions’ GAC.
The Unspoken Rules
Washington said she has studied the unspoken rules and the hidden dynamics that shape workplaces and dictate who gets ahead, who gets included and who struggles.
“These are usually not written down in your HR employee handbook, but they do shape our experience at work,” said Washington. “Ultimately, it’s about whether they can truly thrive. Many leaders don’t realize these unspoken rules exist until we find ourselves in a moment when things that have always been done don’t work. And that’s where we find ourselves right now.”
In introducing the new center, Filene CEO Mark Meyer pointed to a 2023 U.S. Surgeon General report that found “loneliness” has become an epidemic in America, with 50% of marriages ending because at least one partner feels lonely.
Loneliness leads to mental and physical health issues, said Meyer, pointing to the oft-cited statistic that 44% of Americans cannot access $400 for an emergency.
“That’s less than a new set of tires,” said Meyer.
What’s Important Now
“It’s so important right now that we collectively look around at what’s happening in our world, our country our communities,” Meyer continued. “We are all chasing the same thing. We want a little bit of health, a little bit of wealth, we want happiness and we want well-being. These are what people will always seek for a well-led life. Edward Filene understood these principles.
“People before profit. It’s a timeless value. Every one of us is in a race, the human race, chasing well-being,” Meyer stated. “We have a opportunity right now to differentiate by highlighting well being.”
Meyer cited Ed Filene’s conviction in the importance of financial security, noting that “families that save even a modest amount will achieve something far more valuable than the amount saved. It’s the freedom to live life.”
Meyer pointed to a 2011 study by Filene that found the number-one influence to a healthy credit score was physical health and well-being.
“By leaning into member well-being we not only differentiate, we also give undeniable proof we have not abandoned our mission,” Meyer said.
Visa Provides Support
- During the Filene breakfast it was announced that Visa has committed $500,000 over the next three years.
TruStage Sponsorship to Help Small CUs
- TruStage announced it is providing support to Filene over the next three years to help smaller credit unions access Filene’s research and other findings.
