The Essentials
- Dixon’s work centers on ways Berkshire Bank can reach diverse populations including BIPOC (Black, Indigenous and People of Color) communities in a variety of ways to enhance their access to banking in general, including mortgage lending.
- Around 17 percent of Black households nationwide lack basic financial services. Some of these individuals are experiencing the long-term financial instability that makes overdraft or monthly checking account fees unaffordable.
As senior VP and chief diversity officer at Berkshire Bank, Angela Dixon and the Berkshire team are working to bring opportunities directly to marginalized populations—in their communities, with their input.
A senior HR professional who joined Berkshire Bank in early 2021, Dixon’s work centers on ways Berkshire Bank can reach diverse populations including BIPOC (Black, Indigenous and People of Color) communities in a variety of ways to enhance their access to banking in general, including mortgage lending.
“So many people of color have not had access to home ownership, and one of the ways we are all able to build generational wealth is through real estate,” she said. Home ownership builds equity that can be used for a variety of purposes including paying for college, helping the next generation buy their first home, etc.—a crucial part of the cycle of social mobility and financial security.
The emphasis on community engagement grew out of another Berkshire Bank program, ReevX Labs, which is addressing another part of that cycle—meeting traditionally “unbanked” populations where they are. ReevX partners with community nonprofits, offering accessible space, support for local entrepreneurs, and “relationship managers” who meet with potential clients and talk through banking options from checking accounts to home equity loans. ReevX also provides financial education programs.
Around 17 percent of Black households nationwide lack basic financial services. Some of these individuals are experiencing the long-term financial instability that makes overdraft or monthly checking account fees unaffordable. “In some cases people simply don’t trust financial institutions,” Dixon said. “Sometimes there’s a ‘that’s not for me,’ feeling. We need to provide people with what they say they need, not what we think they need.”
During Lever’s 2021 Innovation Summit, Dixon used ReevX as an example of how banks can spur innovation through work in the DEI space. More investment in populations who have too often been outside the world of banking and finance means more wealth is generated—which means more money goes back into the community it’s generated from, as well as the surrounding area. “This doesn’t work if it’s just something we do because it’s the right thing to do,” she told the Summit’s audience. “Of course, it’s the right thing. I believe there is also an economic imperative that we do this well.”
Dixon has a long history of work in diversity, equity, and inclusion—but not only in DEI. A significant amount of work has been spent in HR and fiscal management. “Throughout my career, I’ve usually tried to avoid solely focusing on what we now term as DEI,” she said. “But there has always been a significant piece of my work related to this.”
As a private consultant, she’s helped businesses access strategies, tools and support. When she led the NY Capital Region Chamber’s talent and inclusion program, she helped establish the Inclusive Leadership Series, a diversity, equity and inclusion education program for managers, among other accomplishments. As chief officer for human resources and finance for New York State Comptroller Thomas DiNapoli, she gave key support and expertise to the office’s diversity agenda. Earlier in her career, she ran the Equal Employment Opportunity and Fair Housing Office for the city of Albany.
“When I look at DEI, what I can bring to the table is the lens by which we ask questions pertinent to a more diverse population and its relevance to business strategy,” she said.
Dixon said focusing on DEI in her role at Berkshire Bank—and witnessing the growing social movement that came as a result of the murder of George Floyd in 2020—has given her an opportunity to see how things are shifting. Though she has always tried to create opportunities throughout her career that level the playing field, “it always felt like there was a lack of traction and a lack of movement that was significant,” she said. “In 2020, there was recognition that we are not nearly as far along on this path as we need to be. There was a growing acknowledgement, assessment and some forward movement in a way I hadn’t seen.”
While Dixon and others worry this movement may be short-lived, “having companies across all industries say ‘we need to do something to make sure underrepresented communities, including BIPOC and LGBTQIA+ communities feel valued’…those conversations have been happening at a level I would not have anticipated 3-5 years ago,” she said.
That shift, if it continues, can keep us all moving in a more equitable direction if we work together and listen to the leaders—like Dixon—who know DEI work isn’t done in a silo. “You need people in every institution who see the value of doing this and the importance of doing it for the community as a whole,” she said.
Francesca Olsen is MFN’s Publisher and runs a communications consulting firm in Western MA. This story originally appeared as a Lever Innovator Profile. To read more profiles, visit www.leverinc.org.
