The National Credit Union Administration’s (NCUA) Credit Union Diversity Self Assessment tool helps credit unions promote diversity and inclusion as a competitive advantage for their organizations. Each year since 2016, the NCUA has invited credit unions to complete the voluntary assessment, which helps credit unions to evaluate their institution’s diversity and inclusion practices and performance.
Last year, the NCUA received 481 voluntary Credit Union Diversity Self-Assessment submissions — an all-time high that the agency hopes to surpass this year. To support this goal, the agency has extended the deadline for submission for the 2023 self-assessment to February 15, 2024.
Credit union CEOs and board chairs should have received an email from noreply@ncua.gov on or around October 1, 2023, and a few reminders after that. To protect credit union information, the NCUA distributed custom links to each credit union. Information shared through the self-assessment is confidential, reported in the aggregate, and has no impact on NCUA CAMELS ratings.
As indicated in the 2022 Credit Union Diversity Self Assessment Results report, credit unions that submit a self-assessment over multiple years show more mature diversity, equity, and inclusion practices year-to-year. Many of these credit unions reported that the self-assessment is a valuable tool to help evaluate and improve their diversity programs. Completing a self- assessment over consecutive years allows credit unions to clearly see their progress, which can fuel a commitment to ongoing improvements.
Questions about the self-assessment can be directed to the NCUA’s Office of Minority and Women Inclusion (OMWI) at omwimail@ncua.gov.
Access the ‘Compliance Hotline’
Your League-member benefits include the Compliance Hotline — providing exclusive access to dedicated compliance experts:
Using the above phone number and email address, you can gain access to a knowledgeable team that’s ready to address all your credit union’s compliance inquiries — promptly and efficiently. With the Compliance Hotline, you can proactively respond to impromptu questions and issues by getting clarity and insight on technical topics that normally slow you down. We want to help you unlock the full potential of your League membership by leveraging the resources and support you need to navigate the complex world of compliance effortlessly. We’re ALWAYS just a phone call or email away!
Additionally, other League-member compliance resources include:
For more information, email Lisa Quaranta.
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