ALEXANDRIA, Va.—While a slight majority of credit union managers and chief executive officers are women, the latest data continues to show female managers and CEOs outnumber men only in credit unions with less than $100 million in assets.
Men primarily lead credit unions with $100 million or more in assets, according to NCUA’s Office of Minority and Women Inclusion (OMWI) 2019 Annual Report.
NCUA reported that in 2019 118 federally insured credit unions (76 federal and 42 state-chartered) submitted Credit Union Diversity Self-Assessments. This was up from 81 credit unions in 2018.
According to the Self-Assessment survey, 55.6% of responding credit unions reported a leadership and organizational commitment to diversity, while 48.2% reported taking steps to implement employment practices to demonstrate that commitment. But only 29% of the reporting credit unions were monitoring and assessing their diversity policy and practices, noted Keith Leggett, the former senior vice president and senior economist at the ABA.
The Self-Assessment survey found that few credit unions had developed solid business practices with regard to supplier diversity (7.7%) and transparency of diversity and inclusion practices (17.2%).
NCUA stated 44 credit unions that did the self-assessment in both 2018 and 2019 reported a year-over-year improvement in their diversity practices.