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The National Credit Union Administration ("NCUA") issued an Annual Voluntary Credit Union Diversity Self-Assessment to provide guidance to credit unions "for advancing workforce and supplier diversity."
The NCUA stated that the self-assessment online tool can help credit unions "create a baseline for action, such as making the commitment to develop new products and services aimed at addressing the needs of communities of color, increasing investment in underserved areas, and improving community marketing and outreach." The self-assessment follows from an Interagency Policy Statement Establishing Joint Standards for Assessing Diversity Policies and Practices. The NCUA noted that (i) the self-assessment is voluntary, (ii) the self-assessment is not included as a part of the examination process, (iii) individual credit unions will not be named in assessment data reports, and (iv) the NCUA does not expect all credit unions to implement every best practice identified.
Primary Sources
- NCUA Letter: Voluntary Credit Union Diversity Self-Assessment
- NCUA: Voluntary Credit Union Diversity Self-Assessment
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