Dear Boards of Directors and Chief Executive Officers:
The NCUA has extended the deadline for credit unions to submit the 2021 voluntary Credit Union Diversity Self-Assessment. Submissions for 2021 will now be accepted until January 31, 2022. After that date, the self-assessment portal will remain open, but submissions will become part of the 2022 data set.
I encourage you to complete the Credit Union Diversity Self-Assessment. This valuable tool is designed to help you evaluate and advance your credit union’s diversity policies and practices. Completing the voluntary assessment is an excellent way to strengthen your investment in diversity, equity, and inclusion. It can help you 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 voluntary self-assessment is not part of the examination process. Completing an assessment will not impact your CAMELS rating. There are many benefits in confidentially sharing your diversity, equity, and inclusion journey with the NCUA, but it will not be used in the supervisory process.
The voluntary Credit Union Diversity Self-Assessment is available on our Credit Union Diversity webpage, along with instructions for completing it and several useful diversity-related tools and resources. The NCUA uses anonymized data from the self-assessment to report on progress and trends in credit union diversity-related activities. The information you confidentially submit in the self-assessment goes directly to the NCUA Office of Minority and Women Inclusion (OMWI), which aggregates the data and only shares the results anonymously, primarily in the NCUA’s annual OMWI Congressional Report and the yearly Voluntary Credit Union Diversity Self-Assessment Results Report. The NCUA will not publish any information identifying a particular credit union or individual without written approval.
Broad participation by credit unions helps the NCUA report more meaningful data. I encourage credit unions of all sizes, especially those with 100 or more employees, to move from intention to action by completing the voluntary Credit Union Diversity Self-Assessment.
If you have any questions, suggestions, or simply want to share a best practice, please contact NCUA’s OMWI at 703.518.1650 or by email at CUDiversity@ncua.gov.
Todd M. Harper