NCUA requests diversity assessment by Dec. 31

The NCUA encourages federally insured credit unions, especially those with 100 or more employees, to conduct and submit the annual Voluntary Credit Union Diversity Self-Assessment to the NCUA’s Office of Minority and Women Inclusion before Dec. 31. The NCUA recommends the self-assessment as a source of diversity best practices and as a tool to assess and guide diversity efforts.

The recently updated self-assessment form, instructions for completing it, and several useful diversity-related tools and resources are available on the Credit Union Diversity webpage. You can also access the self-assessment form here.

This voluntary collection is not part of the NCUA or state regulatory examination process and has no impact on CAMEL ratings. There is no penalty for credit unions with limited or no diversity practices in place, and the NCUA will not publish diversity information that identifies any particular credit union or individual without their consent.

Diversity leads to better service, greater innovation, improved solutions and increased membership. These things make credit unions strong and sustainable, which ultimately leads to greater strength for the entire credit union system.

The NCUA’s Office of Minority and Women Inclusion aggregates the self-assessment data and only shares results anonymously. The data also informs the NCUA of areas where guidance would be useful in assisting credit unions with diversity efforts. For example, in 2018, the NCUA issued a Credit Union Guide to Supplier Diversity.

For details, contact the NCUA’s Office of Minority and Women Inclusion at 703.518.1650 or CUDiversity@NCUA.gov.