The NCUA encourages credit unions to promote diversity and inclusion as a competitive advantage for their organizations. Doing so can inform business strategies that unleash employee potential, attract talent to develop innovative solutions to leverage business opportunities, and help you identify and meet the needs of underserved markets.
To support credit unions’ efforts to promote diversity and inclusion, the NCUA designed a self-assessment material in coordination with other federal financial regulators (opens new window). The assessment helps credit unions evaluate their practices against five core standards:
- Organization commitment to diversity and inclusion
- Workforce profile and employment practices
- Supplier diversity
- Practices to promote transparency
- Approach to self-assessment
The assessment outlines best practices in diversity and inclusion that you can use at any stage of your institution’s journey. You can download and complete the NCUA’s self-assessment form at any time to evaluate your institution’s performance. The NCUA encourages credit unions to assess their performance each year. You are not required to submit your results to the NCUA.
- The self-assessment is not required by law; completing a self-assessment is completely voluntary.
- The self-assessment is outside of the scope of the NCUA’s examination process. The agency’s examiners do not have access to the assessment results, and your participation will not impact your CAMELS rating.
Annual Solicitation for Self-Assessments
The NCUA solicits electronic self-assessment submissions through a secure portal on an annual basis. (Credit unions can download and complete an independent self-assessment at any time and are not required to submit their results to the NCUA.) Starting October, 2022, and annually thereafter, the NCUA will send a unique CUDSA link to each credit union CEO. Credit unions will use their unique link to complete and submit a self-assessment. Credit unions can submit a CUDSA between October 1 and January 31 each year (four-month window). For questions about the self-assessment, please contact CUDiversity@NCUA.GOV.
The NCUA’s Office of Minority and Women Inclusion is responsible for assessing the diversity policies and practices for the federally insured credit union system as a whole. It aggregates data provided by credit unions to identify opportunities for the NCUA to develop materials and disseminate information to help credit unions excel in supporting their diversity and inclusion practices. Access to self-assessment data provided by a credit union is restricted and is not accessible to, nor shared with, any other NCUA office.
Aggregated responses are reported in an annual Credit Union Diversity Self-Assessment (CUDSA) report, and may appear in additional reports including the NCUA’s Annual Report to Congress. The NCUA will not identify any specific credit union or individual, or disclose confidential business information, without explicit written consent.
Diversity and Inclusion Resources
Developing effective diversity and inclusion policies and practices takes time. The NCUA does not expect participating credit unions will implement every best practice described in the self-assessment. Some credit unions, especially those with more than 100 employees, can use information they obtain from conducting a self-assessment to begin or to strengthen ongoing efforts to promote diversity and inclusion.
The following resources can help inform and enhance your diversity and inclusion efforts:
This form is authorized by law (Section 342(b)(2)(C)) of the Dodd-Frank Wall Street Reform and Consumer Protection Act) and is voluntary.
Paperwork Reduction Act Statement: The estimated average public reporting burden associated with this information collection is 8 hours per response. Comments concerning the accuracy of this burden estimate and or any other aspect of this information collection, including suggestions for reducing this burden should be address to the National Credit Union Administration, ATTN: PRA Clearance Officer, 1775 Duke Street, Alexandria, Virginia 22314. An agency may not conduct or sponsor, and a person is not required to respond to, an information collection unless it displays a valid OMB control number.