CCUL Headlines: Compliance

CUNA: NCUA's diversity and inclusion checklist

Wednesday, November 8, 2017   (0 Comments)
Posted by: CUNA News
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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.

Those include:

  • 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.

Source: CUNA News

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