Newsroom
September 22, 2016
NAFCU talks MDI CUs at NCUA
NAFCU staff met with NCUA's Office of Minority and Women Inclusion on Thursday to discuss supporting the credit union industry's more than 600 minority depository institutions.
A credit union can self-designate as an MDI if more than 50 percent of its board members are minorities and more than 50 percent of current and potential members are minorities. Currently there are more than 600 MDI credit unions; that compares with just 164 MDI banks.
NAFCU Senior Regulatory Affairs Counsel Michael Emancipator and Regulatory Affairs Counsels Andrew Morris and Ann Kossachev attended the meeting. They focused on the advantages and disadvantages of MDI designation and how to preserve MDIs.
The meeting also covered the agency's plan to release a diversity self-assessment tool on Oct 1. The tool is voluntary and meant to set a baseline for assessing a credit union's diversity in hiring and ongoing operations. NCUA will collect and aggregate the results from credit unions that want to share through Nov. 30, and the data will be reported to Congress next year.
Earlier this month, NCUA offered a checklist, business case and interagency statement regarding its voluntary diversity and inclusion policies in its Letter to Credit Unions 16-CU-05.
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.
A credit union can self-designate as an MDI if more than 50 percent of its board members are minorities and more than 50 percent of current and potential members are minorities. Currently there are more than 600 MDI credit unions; that compares with just 164 MDI banks.
NAFCU Senior Regulatory Affairs Counsel Michael Emancipator and Regulatory Affairs Counsels Andrew Morris and Ann Kossachev attended the meeting. They focused on the advantages and disadvantages of MDI designation and how to preserve MDIs.
The meeting also covered the agency's plan to release a diversity self-assessment tool on Oct 1. The tool is voluntary and meant to set a baseline for assessing a credit union's diversity in hiring and ongoing operations. NCUA will collect and aggregate the results from credit unions that want to share through Nov. 30, and the data will be reported to Congress next year.
Earlier this month, NCUA offered a checklist, business case and interagency statement regarding its voluntary diversity and inclusion policies in its Letter to Credit Unions 16-CU-05.
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.
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
Turning Lemons into Lemonade: Capitalizing in a Post-Banking Crisis Era
Strategy
preferred partner
Allied Solutions
Blog Post
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
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.