A small uptick in the percentage of credit unions reporting a leadership and organizational commitment to diversity was one of the results reported Tuesday from the 2021 Credit Union Diversity Self-Assessment (CUDSA) Results Report, which saw a 28.3% increase in participation.
The National Credit Union Administration (NCUA) said 240 credit unions completed the self-assessment for 2021, up from 187 in 2020.
The CDUSA is tool promoted by the agency to help federally insured credit unions assess, guide, and monitor their diversity, equity, and inclusion (DEI) efforts and compare their progress with peer organizations. The NCUA launched it in 2016 to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). It said approximately 400 discrete credit unions have submitted the self-assessment to the NCUA’s Office of Minority and Women Inclusion for at least one year.
While the CDUSA is not part of the examination process, and thus has no impact on a credit union’s CAMELS rating, credit unions that submitted the self-assessment in two or more consecutive years have shown marked improvement in their diversity-related policies and practices over time, the NCUA said.
Results from the 2021 self-assessment showed that among credit unions participating:
- Approximately 61% reported a leadership and organizational commitment to diversity. (That’s up from 60% in 2020.)
- 56% noted taking steps to implement employment practices demonstrating that commitment. (This is down from 57% in 2020.)
- 31% said they monitored and assessed their diversity practices. (This is up from 29% in 2020.)
- 11% of the reporting credit unions reported having a supplier diversity program in 2021. (This is up from 10% in 2020.)
- 23% indicated their credit union had transparent diversity and inclusion practices. (This is up from 21% in 2020.)
The agency said supplier diversity and transparency of diversity and inclusion practices remained “areas for improvement.”