Newsroom

Credit unions have until Friday to complete the NCUA's voluntary Credit Union Diversity Self-Assessment for 2020. NCUA Chairman Rodney Hood has encouraged credit unions to complete the assessment to demonstrate their commitment to diversity, equity, and inclusion (DEI) efforts and evaluate diversity programs and practices.

The assessment is not required and has no impact on a credit union's CAMEL rating or future examinations. The NCUA uses data from the voluntary Credit Union Diversity Self-Assessment tool to inform its Office of Minority and Women Inclusion Annual Report and measure DEI at the agency and within the industry. The assessment is open year round, but has a Jan. 15 cutoff date for submission for the previous year.

DEI is a priority for the NCUA and the agency in October launched its Advancing Communities through Credit, Education, Stability, and Support (ACCESS) initiative to support greater financial inclusion. Hood has been vocal on increasing financial inclusion and NCUA Board Member Todd Harper last year 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. NAFCU is supportive of efforts to allow credit unions to expand their fields of membership to underserved communities, which has been encouraged by the NCUA and CFPB.