Credit union professionals learned about promoting greater diversity in financial services at the “Financial Regulatory Agencies’ Diversity and Inclusion Summit” hosted by NCUA and other regulators last week at the Federal Reserve Bank of New York in New York City.
About 140 individuals from across the financial sector attended the event, including Association President/CEO William J. Mellin, SVP/Chief Engagement Officer Ron McLean and a number of representatives from New York credit unions.
The summit offered insights into how financial institutions, including credit unions, can bridge the diversity gap in the workplace. Notably, attendees learned about utilizing the voluntary Diversity Self-Assessment tool, which credit unions can use to assess existing diversity and inclusion policies and practices, and identify opportunities to implement best practices in diversity and inclusion.
Individuals in attendance also learned that diversity often leads to more successful institutions, creating not just opportunities for workers, but also stronger businesses.
“The Diversity and Inclusion Summit was a great opportunity to network with regulators, and it offered an eye-opening look at the importance of diversity in the workplace,” said Mellin. “As a CEO, the biggest takeaway for me was the notion that recruiting and hiring a diverse workforce is only the beginning; keeping a diverse workforce engaged in a career and moving them forward is just as important.”
In addition to NCUA, the event also included presenters from the CFPB, FDIC, Federal Reserve, Securities and Exchange Commission, Office of the Comptroller of the Currency and the Federal Housing Finance Agency.
Additionally, Adrienne Collier, the diversity and inclusion manager at ESL FCU in Rochester, served as a panelist on one of the two panel discussions at the event. Collier spoke about financial industry best diversity practices and shared ideas on how credit unions can develop and implement strategies that attract, retain and promote a diverse workforce.