Northwest Credit Unions are Encouraged to take the Diversity Self-Assessment

January 27, 2022

The NCUA developed a tool to assist credit unions with assessing diversity within credit unions, and recently extended the deadline to fill out this year’s self-assessment through January 31, 2022. The self-assessment is designed to help credit unions think through and identify best practices for demonstrating a commitment to diversity and inclusion in order to better serve membership. The self-assessment can be filled out in less than five minutes — the survey also provides room to add comments if a credit union so chooses, and includes an optional section on Diversity Data. To date, the self-assessment has had very low credit union participation ranging from about .5% to 2.5% of credit unions.

Key Points:

• Assessment data will only be used in aggregate
• Examiners will not have access to the information

The Association encourages Northwest Credit unions to submit a self-assessment annually in order to give the NCUA a statistically valid sample size to evaluate where credit unions are collectively and to utilize as a tool to aid in setting strategic goals and priorities for the credit union’s diversity and inclusion efforts.

Posted in Advocacy News, Advocacy on the Move, Regulatory.