Newsroom
NCUA chairman encourages CUs to participate in diversity self-assessment
In a Letter to Credit Unions issued Monday, NCUA Chairman Rodney Hood encouraged credit unions to complete the voluntary Credit Union Diversity Self-Assessment to show their commitment to diversity, equity and inclusion (DEI) efforts and evaluate diversity programs and practices.
“It has been nearly two months since George Floyd died in Minneapolis while in police custody. There’s no question there is a tremendous amount of pain and anger surrounding another instance of abuse of authority against a black man,” wrote Hood in the letter. “At the same time, however, I am heartened by the responses from so many in the credit union community.
“If there is a common thread to what I am hearing, it is that people want to know what they can do that will truly make a difference,” Hood said. “People want to move beyond platitudes and vague expressions of support, so we can focus on real changes that will have a concrete impact.”
Hood noted the self-assessment is not a requirement for credit unions and will have no negative impact on a credit union's CAMEL rating. He encouraged credit unions to take this small step forward to see areas in which they can strengthen their commitment to DEI.
While the self-assessment is open year round, the cutoff date for submission is Jan. 15 of the following year.
DEI is a priority for the NCUA; Hood has been vocal on increasing financial inclusion and NCUA Board Member Todd Harper recently gave an update on those efforts to NAFCU member credit unions.
In addition, DEI remains a priority for NAFCU among its own staff and in its advocacy with the NCUA and Congress to ensure credit unions can continue serving their communities.
Share This
Related Resources
Add to Calendar 2024-03-26 09:00:00 2024-03-26 09:00:00 Ensuring Safety and Soundness with AI Listen On: Key Takeaways: [03:48] The regulators are very focused on fairness in lending especially when it comes to using AI and outside models. The industry is moving very fast. [08:25] Articulating a business use case and how partnering with a Fintech can support it is the first step in having a successful conversation with your board. [10:30] Talk to your account executive at your Fintech and have them help you overcome objections. [15:01] Plan for oversight. It is not set and forget it. Your regulators are going to want to know how you are overseeing that from a 3rd party risk management standpoint. [15:47] Have a handle on your reserves and capacity for lending and start small and grow slowly. Web NAFCU digital@nafcu.org America/New_York public
Ensuring Safety and Soundness with AI
preferred partner
Upstart
Podcast
Help Ease Your Members' Loan Payment Concerns
Planning, Auto Loans, Research
preferred partner
TruStage
Blog Post
The Value of Risk Management in Cybersecurity
preferred partner
DefenseStorm
Video
Add to Calendar 2024-03-13 14:00:00 2024-03-13 14:00:00 Digital Assets in Credit Unions: What Are the AML Risks? The digital asset boom is upon us. Like it or not, you have to deal with it effectively with your members, credit unions are on the frontlines of crypto adoption. Even the NCUA has been providing more and more guidance on different aspects of digital assets. You need to be prepared. How? By understanding the core basics of digital assets (specifically cryptocurrencies) the risks that it poses to credit unions and how you can be better prepared to handle issues when they arise. In this webinar, Understanding the Digital Assets Boom, you’ll focus on the basics of digital assets, a background of cryptocurrencies and types, the regulations that are established and the proposals that are being considered and how to position yourself to understand all of these components and include them in your day-to-day roles. Key Takeaways Comprehend the basics of digital assets including cryptocurrencies Understand currently established regulations and what the future has in store, specifically in 2024 Identify and remediate issues that arise in your credit union Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until March 13, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Digital Assets in Credit Unions: What Are the AML Risks?
Credits: NCCO, NCRM
Webinar
Get daily updates.
Subscribe to NAFCU today.