ALEXANDRIA, Va. (Jan. 6, 2025) – Today, the National Credit Union Administration released the 2023 Credit Union Diversity Self-Assessment Results Report. The voluntary credit union diversity self-assessment helps federally insured credit unions to assess their diversity, equity, and inclusion efforts.
“By publicly sharing the aggregated results of the voluntary credit union diversity self-assessment, we embrace a shared commitment to greater inclusion within the credit union system. We also better ensure that the system fulfills its statutory mission of meeting the credit and savings needs of members, especially those of modest means,” NCUA Chairman Todd M. Harper said. “These results show positive change in advancing diversity, equity, and inclusion across the credit union system, and I encourage all credit unions to review the results to evaluate and benchmark their own inclusion efforts against others.”
For survey year 2023, credit unions could submit a diversity self-assessment between October 1, 2023, and February 15, 2024. The NCUA received 334 voluntary diversity self-assessments.
The self-assessment helps credit unions evaluate their inclusion practices against five core standards. In its review of the aggregated data, the NCUA identified areas for improvement: supplier diversity, increasing credit unions’ transparency and publishing information on their diversity and inclusion practices, and developing and implementing a diversity, equity, and inclusion strategic plan that is sustainable and measurable.
Since the voluntary diversity self-assessment launched in 2016 to comply with Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, hundreds of credit unions have participated. More information about the voluntary credit union diversity self-assessment is available on the NCUA website at www.ncua.gov/CUDSA.
The 2024 survey year is open now through January 31, 2025. To further ensure the confidentiality of the self-assessment responses, the NCUA has contracted Optimal Solutions Group, LLC as a third-party vendor to administer the survey and provide support services to participating credit unions. This change reflects the agency’s commitment to ensuring that the data gathered through the assessment remains separate and distinct from the NCUA’s supervision program.