Agency reminds that credit union voluntary diversity self-assessments for 2019 due by Jan. 15

Credit unions’ voluntary assessments of diversity for 2019 are due Jan. 15 to their federal regulator, the agency reminded the financial institutions Friday.

According to the National Credit Union Administration (NCUA), the self assessment – which the agency said provides data to help it “better understand areas where guidance would be useful” – is available all year long. However, to have their data counted for 2019, the agency said, they must submit their reports by Jan. 15. Any reports submitted after that will be counted toward 2020 self-assessments.

The agency also noted that the diversity assessment is voluntary and not part of the agency’s (or state regulators’) exam processes. “And, it has no impact on a credit union’s CAMEL rating,” NCUA said, referring the to the comprehensive scoring system resulting from examinations.

Self-assessment form is available on the NCUA’s website.