Juneteenth is a day to commemorate and celebrate the emancipation of enslaved individuals in the United States after the Civil War. It has taken on additional meaning for many Americans in the wake of the social unrest following the murder of George Floyd, as the nation reckons with social injustice and a historical lack of respect for Black lives.
- NeuGroup and a growing list of companies now recognize Juneteenth (June 19) as a holiday. This week, President Biden signed a bill making it a federal holiday. Still, many Americans remain unaware of the day’s significance.
- The hopeful news is that awareness is growing and that many corporates in the NeuGroup Network are doubling down on efforts to improve diversity and inclusion (D&I) at their companies and to promote social justice and equality in their communities.
In response to growing demand from members committed to taking impactful action, NeuGroup has facilitated almost two dozen sessions on D&I topics across our 26 peer groups over the last year.
- We launched a D&I working group for members that meets monthly to discuss topics including the most effective ways to support minority-owned banks, innovative approaches to promote economic growth in local communities, and member-driven initiatives such as a $100 million racial equity fund to support Black homebuyers and communities.
- Minority depository institutions (MDIs) and community development financial institutions (CDFIs) have attracted significant attention from corporates, and last month, five representatives from MDIs and CDFIs joined the working group to share best practices.
In other recent sessions, members have come together to discuss:
- How fintechs like CNote can use technology to promote a more inclusive economy.
- The road to diversity in capital market deals and women-owned firms.
- The FDIC’s mission-driven bank fund, which aims to boost equity capital at MDIs and CDFIs.
Looking ahead, on June 24th, NeuGroup will bring in four leading minority- and women-owned financial firms—Seelaus, Academy Securities, Ramirez and Co. and Siebert Williams Shank—for a discussion on how corporations can better expand their use of diversity firms in financial transactions. Please check our events calendar as more sessions are added.
In celebrating Juneteenth this year, we want to reaffirm NeuGroup’s commitment to helping our members, partners and sponsors succeed in making real change in society as corporations and finance teams redefine their purpose and help pave the way to a more just and equitable America.