Associations Step in to Help with U.S. Financial Crisis
While just about every association or nonprofit in America is concerned about the expected impact of the U.S. economic meltdown and federal bailout efforts, some organizations are doing much more than worry. As they have historically whenever a national crisis has arisen, associations are creatively drawing on their expertise and resources to help others weather the financial storm. Here are a few examples:
Staffing company executives from across the U.S. will provide résumé and interviewing advice to help strengthen the job-searching skills of residents in San Diego, California, October 22 during Staffing World 2008, the American Staffing Association annual convention and expo. The day of giving back to the conference's host city marks the first large-scale corporate social responsibility project in the organization’s history. Attendees expect to serve hundreds of local professionals seeking help in finding new jobs and careers.
The Financial Planning Association hosted two special conference calls for members last week to “address the financial crisis and how to best serve clients during this turbulent time.” It also developed an online resource center for them, archived the conference calls for 24/7 online access, urged members to reach out to each other in the association’s discussion areas, pulled together online education sessions about “managing client emotions” and holding difficult conversations, and analyzed details of the bailout legislation. It also released results of a new consumer survey that shows “how critical the pairing of a professional financial planner and the creation of a comprehensive financial plan can be to an individual’s long-term financial success” and urged members to use it to help frightened investors find guidance.
The American Bankers Association and thousands of volunteer bankers joined with students nationwide to celebrate its sixth “Get Smart About Credit Day” October 16 to provide “a credit reality check” and explain how to use credit responsibly. According to Laura Fisher, ABA Education Foundation director, “We are in the midst of a national teachable moment on credit use, and bankers are seizing this opportunity to educate future generations…. This is a tough time for everyone, but it’s not the time to let up on financial education.” Volunteers also encouraged parents to use the opportunity to talk to their children about smart use of credit and money management, and to download a free A.C.T. Credit Pledge (A=Assess your debt. C=Check your credit report for errors.T=Take the information and create a plan.)
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Comments
I thought social responsibility was supposed to guide associations' actions, not serve as spin control after negative actions have already occurred.
Association execs will have a tough time acting socially responsible when their members are not doing so.
How do you tell your members they should not try to make more money? How do you tell your members not to lure consumers into loan commitments they can't pay off? How do you tell your members not to offer incentive payments for the sale of non-creditworthy loans?
Helping people strengthen their job-hunting skills would be less necessary if those people hadn't lost their jobs in the first place.
Posted by: David M. Patt, CAE | October 21, 2008 5:24 PM
It's wonderful that these associations are trying to help. But we shouldn't forget that all associations are capable of helping out in one form or another during these tough financial times . All associations should also look into helping and supporting their own members for example. Some ideas include:
- Waving or reducing dues for members who are out of work
- Offer free, online seminars about job hunting or financial planning (if your association has an HR expert, maybe he or she could be the speaker)
- Create a job hunters blog, wiki, or message board for members to share information on job openings
Posted by: Caron Mason, CAE | October 22, 2008 6:10 PM
I love those ideas, Caron, and I'm certainly hearing about some of those very activities. I've also heard about
--holding free networking sessions for members "in transition"
--throwing together a job fair with potential employers, temp agencies, and headhunter companies
--developing new career materials focused on job hunting in a tight market, using social media to job hunt, revising your resume to change career direction within the association community, etc.
--a professional development discount for members out of work
Any others out there who want to chime in?
Posted by: Kristin Clarke | October 23, 2008 1:17 PM