Essay on The Profession Of The Banking Industry

Essay on The Profession Of The Banking Industry

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The profession I am in is the banking industry – more specifically at a credit union. Over 25% of Muslim Americans have a college education or above (Nowrasteh, 2016) so many would be knowledgeable about money and finances yet many more may not be.
Just as with the general public, Muslim Americans may have a household income of $100,000 or more as well as a household income of $30,000 or less (Nowrasteh, 2016) so they will have the same challenges as any other American when it comes to finances and wealth management. One of the fundamental duties and obligations of their culture is aimsgiving (Esposito) which is giving to others which can result in them putting themselves in a situation that could impact their own financial well being. They value family and respect the women of the household and the elderly. Individuals in the banking industry will need to ensure they recognize, respect, and address these values in order to assist them in their financial needs and well-being.
Career Application
Credit unions, in particular, have more of a member focus as the members are the true owners. It is not only about making a profit for their members which are paid back in dividends but it is about educating them so that they can make good decisions about their finances.
Banking professionals need to ensure that they keep accurate records on each member’s account; that they educate them on ways to improve their financial positions; and that they make smart decisions for their members when it comes to lending money regardless of the member’s religion (or other group status). Therefore, it is important to the leaders of financial institutions that their Tellers, Financial Services Representatives, and Customer Service Representativ...

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...pecting the importance of their strong family bond.
• Ways to communicate respectfully about an individual’s financial matters, especially in those situations where a member has a low credit score or was declined for a loan due to their credit history as it could mean that they may not be able to help others as they want to.
• How to assist a member with improving their score so that they may be approved for future loans that could allow them to help others.
• Video examples of appropriate and inappropriate behavior when working or waiting on someone of a different race, religion, ethnic group, gender, etc.
A resource, or handout, provided at training would be a top 10 list of what to remember about diversity and its importance to the company and the member. It would include key take-aways to remember in reference to the training and the Muslim culture and beliefs.

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