Credit unions encouraged to participate in DEI self-assessment by Jan. 15

The NCUA is encouraging federally insured credit unions that want to commit to the principles of “diversity, equity, inclusion and belonging” to complete the agency’s Voluntary Credit Union Diversity Self-Assessment by Jan. 15.

Coordinated by the agency’s Office of Minority and Women Inclusion, OMWI, the assessment poses no risk to credit unions for completing the process. The self-assessment is voluntary and has no impact on a credit union’s CAMEL rating; the information the NCUA collects through the self-assessment helps the agency study diversity trends in the credit union industry and provide credit unions with guidance on topics related to diversity and inclusion. The NCUA provides an annual diversity report to Congress, but the report does not identify individual credit unions.

“Each year the number of self-assessment submissions has increased, but we are a long way from seeing the benefits of industry-wide participation, which will help us gather and report more meaningful data,” said Todd Harper, NCUA chairman, in a letter to credit unions. “I therefore encourage credit unions of all sizes, especially those with 100 or more employees, to move from intention to action by completing the Credit Union Diversity Self-Assessment and sharing your results with OMWI.”

After Jan. 15, 2022, the portal will remain open, but submissions will become part of the 2022 data set, according to the agency.

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