Sixty-one percent of credit unions that responded to the NCUA’s 2021 Credit Union Diversity Self Assessment (CUDSA) reported a leadership and organizational commitment to diversity, according to the agency, which released survey results this week. The survey results come as the NCUA kicked of its 2022 DEI & ACCESS Summit Wednesday.
In addition, 56% reported taking steps to implement employment practices to demonstrate that commitment and 31% reported monitoring and assessing their diversity policies and practices. Also, for 2021, submissions increased by 28.3%, and as in previous years’ assessments, supplier diversity and transparency of diversity and inclusion practices remained areas for improvement, according to the NCUA.
“For the U.S. credit union system to succeed and achieve its full potential, diversity, equity, inclusion, and belonging must be a strategic objective,” said Todd Harper, NCUA chairman. “We have, across the system, seen improvements in DEI prioritization and performance in recent years, but we must strive to continue that progress. The CUDSA is a positive way for credit unions to embrace DEI principles. The 2021 assessment results provide credit unions with valuable information to measure and better manage their DEI progress.”
The NCUA administers the voluntary credit union diversity self-assessment as a tool to help federally insured credit unions assess, guide, and monitor their diversity, equity, and inclusion efforts and compare their progress with peer organizations.