Newsroom
September 07, 2016
NCUA offers self-assessment diversity checklist, business case
NCUA on Tuesday provided credit unions a checklist, an article explaining the business case and an interagency statement regarding the agency's voluntary diversity and inclusion policies and practices via Letter to Credit Unions 16-CU-05.
NCUA encouraged credit unions – especially those with at least 100 employees – to complete the self-assessment and return it to the agency's Office of Minority and Women Inclusion between Oct. 1 and Nov. 30.
In its Letter to Credit Unions, NCUA said the "goal of this voluntary self-assessment is to establish a baseline for evaluating diversity and inclusion in the credit union system." The agency reiterated that credit unions' self-assessments will not be shared with examiners and will have no bearings on CAMEL ratings. NCUA also said there is no penalty for credit unions that do not have diversity or inclusion policies in place.
The included business case explains how diversity and inclusion policies can be a good investment for credit unions.
Last year, six federal regulators, including NCUA, issued a final interagency statement establishing standards for financial institutions to follow in creating and maintaining diversity policies and practices.
NAFCU has urged NCUA to allow credit unions to submit anonymous self-assessments under the voluntary policies and practices adopted by the agency as it will encourage participation and keep information protected from a Freedom of Information Act request.
NCUA encouraged credit unions – especially those with at least 100 employees – to complete the self-assessment and return it to the agency's Office of Minority and Women Inclusion between Oct. 1 and Nov. 30.
In its Letter to Credit Unions, NCUA said the "goal of this voluntary self-assessment is to establish a baseline for evaluating diversity and inclusion in the credit union system." The agency reiterated that credit unions' self-assessments will not be shared with examiners and will have no bearings on CAMEL ratings. NCUA also said there is no penalty for credit unions that do not have diversity or inclusion policies in place.
The included business case explains how diversity and inclusion policies can be a good investment for credit unions.
Last year, six federal regulators, including NCUA, issued a final interagency statement establishing standards for financial institutions to follow in creating and maintaining diversity policies and practices.
NAFCU has urged NCUA to allow credit unions to submit anonymous self-assessments under the voluntary policies and practices adopted by the agency as it will encourage participation and keep information protected from a Freedom of Information Act request.
Share This
Related Resources
Add to Calendar 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Turning Lemons into Lemonade: Capitalizing in a Post-Banking Crisis Era
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-05-02 14:00:00 2024-05-02 14:00:00 Mastering Resilience in Incident Response Plans About the Webinar An Incident Response (IR) plan is crucial for guiding credit unions through major incidents efficiently and effectively. However, many IR plans lack resilience, making them less adaptable to the evolving threat landscape. Join us for our webinar Mastering Resilience in Incident Response Plans where DefenseStorm cyber experts Elizabeth Houser and James Bruhl will delve into the importance of resiliency within cybersecurity IR plans. Don’t miss out on the opportunity to learn how to: Ensure IR plan accessibility so that all team members with assigned roles are prepared for effective incident response. Conduct efficient and regular reviews to ensure roles and responsibilities are current, tools are relevant, and compliance requirements are met. Implement and utilize tabletops to regularly test the effectiveness of your IR plan. Enhance preparedness, efficiency, and confidence among responders. View On-Demand Web NAFCU digital@nafcu.org America/New_York public
Mastering Resilience in Incident Response Plans
preferred partner
DefenseStorm
Webinar
Get daily updates.
Subscribe to NAFCU today.