ALEXANDRIA, Va.– NCUA is reporting it has introduced several “process improvements” to increase the accessibility and functionality of its Credit Union Diversity Self-Assessment.
According to the agency, the 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, NCUA said.
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 Jan. 31, 2023, the agency said.
“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 in a statement. “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.”
More Than 400 CUs, But…
According to NCUA, 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% of all credit unions as of Dec. 31, 202,” the agency said, adding it “strongly encourages all credit unions to submit an assessment each year.”
The NCUA stressed its compiles submissions anonymously in the aggregate and does not consider diversity and inclusion data when assigning CAMELS ratings, nor does it share credit union information with the agency’s regulatory function.
NCUA said a discussion of the Credit Union Diversity Self-Assessment will take place at the NCUA DEI and ACCESS Summit, Nov. 2 – 4.
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