May 20, 2020

NCUA's culture council gets underway

NCUA headquartersThe NCUA's new Culture, Diversity, and Inclusion Council – which was announced at the agency's first Diversity, Equity and Inclusion (DEI) Summit in November – officially launched last week. The council's first task is to conduct an agency-wide survey to examine its current organizational culture and identify improvement areas.

"For the NCUA to effectively carry out its mission, every staff member should be respected, and diversity and inclusion should be truly fostered," said NCUA Chairman Rodney Hood during the council's kick-off event Friday. "All of NCUA’s employees should come to work knowing that all of us, directly or indirectly, can improve the lives of hard-working credit union members in ways both big and small. I know this is a mission that makes me excited to come to work every day because we are responsible for protecting the safety and soundness of America’s credit union system."

Also in his remarks, Hood outlined his expectations for the council and the agency as a whole as they work to ensure a welcoming environment and inclusive culture.

Credit unions continue to lead the charge as the NCUA and lawmakers work toward greater diversity in the financial services industry and NAFCU consistently works to ensure credit union can meet the needs of all members in their communities, supporting the NCUA's efforts to modernize field of membership rules.

Last month, the NCUA released its 2019 Office of Minority and Women Inclusion Annual Report that outlined diversity and inclusion at the agency and within the credit union industry using data from the voluntary Credit Union Diversity Self-Assessment tool. The new council was also highlighted in the report.

At the agency's DEI Summit in November, NAFCU Director of Regulatory Affairs Ann Kossachev led a think-tank exercise during the summit to generate conversation and solutions to existing and emerging challenges related to advancing DEI.

In addition, a representative from a NAFCU-member credit union testified last year before a House Financial Services subcommittee on credit unions' commitment to diversity and serving communities in need.

NAFCU will continue to support DEI efforts within the credit union industry to ensure all Americans have access to safe, affordable financial products and services.