Overcoming Barriers to Economic Growth
These 12 development issues have been identified as barriers to economic growth and prosperity around the world. Each day, they impact the communities and members that credit unions serve.
Savings
Peopl e can’t rely on credit alone to solve all issues. A habit of saving will provide financial security and peace of mind when i t comes to emergency expenses. Longer-term savings al ows people to build wealth and plan for retirement.
Credit
Credit provides convenience to consumers and is often required to make major purchases. Improper use can negatively impact a borrower’s credit worthiness and limit future opportunities.
Diversity & Equity
Diversity is expressed in many forms and must be embraced throughout all business and social structures. Equity can be achieved by combating discrimination and creating processes and cultures that promote equity.
Inclusion
Inclusion addresses representation at the highest and most visible levels. We must ensure that diverse, disadvantaged, and marginalized populations have a “voice” or “seat at the table” within our power structures.
Hunger
Hunger is not limited to developing countries or those living in poverty. People around the world live with malnourishment, food insecurity, and greater issues related to hunger that can be devastating to communities.
Housing
People have a basic need for shelter. Inadequate or unstable living conditions can have significant impact on people’s abi lity to overcome many of the other development issues.
Health
Ensuring healthy lives and promoting the well-being of people of all ages is foundational to human development.
Environment
We rely on our environment for air, food, and other critical needs. While climate change is a threat, there is no shortage of challenges that require us to consider the impact and sustainability of our actions.
Education
Addressing education is es sential to resolving many of the other development issues. Quality education provides knowledge and resources that can improve people’s lives.
Employment
The ability to produce and generate income provides individuals with a path to contribute in the greater economy and marketplace.
Transportation
Simply put, transportation provides access. Without transportation, individuals may not be able to maintain employment and families may not be able to access resources such as schools and food pantries.
Technology
The absence of technology is very real to many people around the world. Lack of appropriate technologies can create inefficiencies, impair employment opportunities, and l imit people’s access to education and resources.