NCUA releases fiscal year 2023 OMWI Annual Report to Congress
ALEXANDRIA, VA (March 28, 2024) — The National Credit Union Administration released its Office of Minority and Women Inclusion (OMWI) Annual Report to Congress on the agency’s diversity, equity, inclusion, and accessibility (DEIA) programs and initiatives for fiscal year 2023. The report also outlines the agency’s efforts in ensuring fair and inclusive business practices and assessing its regulated entities’ diversity policies and practices.
“The NCUA has a deep commitment to diversity, equity, inclusion, and accessibility,” NCUA Chairman Todd M. Harper said. “That commitment stems, in part, from the historic development of credit unions, many of which were created to serve marginalized communities unable to obtain safe, fair, and affordable credit through banks or other financial providers. By sharing the best practices in this report, we share our commitment to DEIA and allyship across the credit union system.”
The OMWI 2023 Annual Report to Congress(Opens new window) features these accomplishments:
- 47.5 percent of the NCUA’s total reportable contracting dollars for the year were awarded to minority- or women-owned businesses, and 47.1 percent of contract payments went to these vendors.
- 41.4 percent of the NCUA’s workforce participated in an employee resource group. This continues to position the agency at four times the industry standard membership goal of 10 percent of an organization’s workforce.
- 17.0 percent and 4.7 percent of the NCUA’s workforce self-identified as having disabilities and targeted disabilities, respectively. Since 2017, the NCUA has consistently exceeded the federal employment rate goals for employees with disabilities and employees with targeted disabilities.
- Of new hires, 6.3 percent were hired using the Schedule A hiring authority, up from 4.3 percent in 2022.
The NCUA’s OMWI is responsible for measuring, monitoring, and establishing policies for diversity and inclusion in the NCUA’s management, employment, and business activities. OMWI programs and services comply with the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 to develop and promote standards for workforce diversity, supplier diversity, and equal employment opportunity and to assess the diversity policies and practices throughout the credit union industry. The office’s Equal Employment Opportunity function affords employees’ rights and protections available under federal antidiscrimination, whistleblower protection, and retaliation laws.
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.
