The NCUA issued a checklist for credit unions to voluntarily use in assessing its diversity and inclusion practices in a Letter to Credit Unions (16-CU-05) last year. Two-thirds of participants in last week’s NCUA diversity webinar said they were unaware NCUA offers a self-assessment checklist, and 64.3% said they do no have a policy on diversity and inclusion.
A recent CUNA CompBlog post highlights several quick facts about the checklist that can be handy to credit unions, particularly CEOs, Human Resources departments and board members.
It’s a voluntary annual assessment;
The checklist has no impact on exams or a credit union’s CAMEL rating;
It takes about one hour to complete the 28 questions;
While the assessment measures current diversity policies in your credit union, for those credit unions without current policies it provides a baseline of practices to implement; and
The data obtained from the assessment is reported anonymously and in aggregate.
There are five areas of focus for the questions:
Is there an organizational commitment to diversity and inclusion by leadership?
Does the credit union proactively implement employment practices that expand outreach efforts to minorities, women, and other diverse individuals?
Does the credit union consider supplier diversity as part of its procurement and business practices?
Does the credit union promote transparency of its diversity and inclusion practices?
Does the credit union monitor and a assess diversity policies and practices on an on-going basis?
Credit unions wishing to take part in the voluntary assessment can do so through Dec. 31.