Enhanced credit union diversity self-assessment improves use experience
ALEXANDRIA, VA (September 26, 2022) — To increase the accessibility and functionality of the Credit Union Diversity Self-Assessment, the NCUA has introduced several process improvements. These enhancements include additional details for submitting surveys, improved navigation, prepopulation of certain fields, and compliance with the 21st Century Integrated Digital Experience Act. The modernization also upgrades security and ensures data integrity and confidentiality.
“The Diversity Self-Assessment allows credit unions to evaluate their diversity-and-inclusion efforts and benchmark their performance with peer institutions,” NCUA Chairman Todd M. Harper said. “These new enhancements make it easier for credit unions to complete the Self-Assessment and assess their diversity programs and practices. I strongly encourage all credit unions to use the updated Self-Assessment because an annual review of diversity-and-inclusion best practices can contribute to advancements in a credit union’s policies, practices, and growth.”
During the first week of October, credit unions will receive an email with a personalized link to the 2022 Diversity Self-Assessment. The official submission period to be included in the 2022 report will end January 31, 2023.
Since the introduction of the Self-Assessment in 2016, more than 400 credit unions have used the tool to evaluate their diversity-and-inclusion efforts. While the steady increase in submissions shows promise, this participation level represents only 8.6 percent of all credit unions as of December 31, 2021. The NCUA strongly encourages all credit unions to submit an assessment each year.
The NCUA reports submissions anonymously in the aggregate. The agency does not consider diversity and inclusion data when assigning CAMELS ratings, nor does it share credit union information with the agency’s regulatory function. For more information about the Credit Union Diversity Self-Assessment, visit the NCUA’s Credit Union Diversity webpage.
A discussion of the Credit Union Diversity Self-Assessment will take place at the NCUA DEI and ACCESS Summit, Nov. 2 – 4, 2022.
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 135 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.
