WASHINGTON–In just two years there has been an “important culture shift” among credit unions when it comes to diversity, equity and inclusion (DEI), according to a new CUNA survey.
Using results from its annual membership survey, CUNA said DEI Issues Brief found that in 2021, 60% of credit unions are focused on DEI, up from 37% in 2019, and 80% of credit union members now belong to a credit union that is focused on DEI.
One in three of the credit unions surveyed have DEI integrated into their strategies or have plans in place, if not already implemented, CUNA added.
Moreover, according to the brief, credit union asset size plays a significant role in the maturity of DEI efforts.
“About 20% of the largest credit unions―those with $500 million or more in assets―have strategically aligned their DEI endeavors with organizational goals, compared to just 5%-7% of their smaller counterparts,” CUNA reported.
However, credit unions with less than $100 million in assets improved in 2021, becoming nearly twice as likely to focus on DEI in 2021 compared to 2019, the trade group stated.
‘Significant Strides’
“This report reflects an important culture shift across our movement,” said Samira Salem, CUNA VP-DEI. “It’s great to see credit unions make significant strides toward their organizational commitment to DEI. While there is still room to improve, I’m confident that credit unions of all sizes are equipped for the road ahead.”
CUNA added that the “rapid expansion of DEI efforts signals that DEI is central to the credit union mission, vital to advocacy efforts, effective for organizational performance, and critical to the movement’s survival.”
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