ALEXANDRIA, Va.—Credit unions have until Friday to complete the NCUA's voluntary Credit Union Diversity Self-Assessment for 2020.
NCUA Chairman Rodney Hood issued a statement encouraging 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 agency stated, adding it 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.
Under Hood, the agency has made DEI a priority. In October 2020, it launched its Advancing Communities through Credit, Education, Stability, and Support (ACCESS) initiative to support greater financial inclusion.
Hauptman Named Liaison
Separately, Hood announced he has assigned Vice Chairman Kyle S. Hauptman as the NCUA board’s liaison to the Defense Credit Union Council and the National Association of State Credit Union Supervisors.
The Federal Credit Union Act empowers the NCUA Chairman to determine each board member’s area of responsibility, the agency noted, adding, that with these assignments Hauptman’s responsibilities include meeting with the Council and NASCUS and reporting on priorities and recommendations to the NCUA board.
“As we work to improve the regulatory environment for federally insured credit unions, it is essential that we engage with organizations like the Council and NASCUS,” Hood said. “I appreciate Vice Chairman Hauptman accepting these board assignments, and I know he will ensure the NCUA maintains a productive working relationship with these important stakeholders.”
“The Council’s focus on serving those who serve our country is important for America and credit unions. I look forward to learning more about the unique financial needs of our service men and women, and the role defense credit unions play in meeting those needs,” Hauptman added. “I also look forward to working with NASCUS as it will provide me with a broader understanding of the credit union landscape. I appreciate being given these assignments by Chairman Hood, especially because I believe a strong partnership between NCUA and the state credit union system will help ensure a healthy and vibrant credit union industry.”
NASCUS Response
In response to the Hauptman announcement, NASCUS President/CEO Lucy Ito said, “Congratulations to Vice Chairman Hauptman for his assignment as the NCUA board’s liaison to NASCUS and the Defense Credit Union Council. NASCUS is fully ready and willing to interact with him to achieve his stated goal of developing a broader understanding of the credit union landscape, particularly the role of the dual chartering system. Based on his press statement, NASCUS shares the belief that a strong, equal partnership between NCUA and the state credit union will help ensure a vibrant and mutually reinforcing dual charter system – which we also believe makes for a stronger, more resilient and long-lasting credit union system overall.”