Credit unions step up filing of diversity self-assessments in ‘22, doubling tally from ‘21

Credit unions in 2022 doubled their numbers from the previous year for filing voluntary diversity self-assessments, their federal regulator said Wednesday in releasing a final report on last year’s filings.

According to the National Credit Union Administration (NCUA), 481 credit unions – 10% of the total number — submitted a self-assessment. The annual assessment, according to the agency, is aimed at giving NCUA information to learn of credit unions’ diversity policies and programs and their challenges. That data, NCUA said, allows it to provide effective technical assistance and resources to enhance diversity programs.

NCUA said the 2022 results are an all-time high for self-assessments submissions. The agency broke down the submissions by charter type, noting that 302 were from federal credit unions (FCUs) 178 from state-chartered, federally insured and state-chartered, and one from non-federally insured, state-chartered credit union.

In 2021, the agency noted, 240 self-assessments were submitted.

Submissions for 2023, NCUA said, are due by Jan. 31.

2022 Credit Union Diversity Self-Assessment Results Report is Available