Report highlights nearly half of ‘contracting dollars’ of credit union regulator going to minority-, women-owned businesses

Nearly half of all agency “reportable contracting dollars” in 2023 went to minority- or women-owned businesses, and nearly half of contract payments went to those vendors, according to a report to Congress published Thursday by the federal credit union regulator.

In its 2023 Office of Minority and Women Inclusion (OMWI) Report to Congress, the National Credit Union Administration (NCUA) said 47.5% of its contracting dollars went to the minority- or women-owned businesses. Meanwhile, 47.1% of contract payments went to the same groups.

The report summarizes the agency’s diversity, equity, inclusion, and accessibility (DEIA) programs and initiatives for the past year. It also outlines NCUA efforts in ensuring fair and inclusive business practices and assessing diversity policies and practices of credit unions that the agency regulates.

Other highlights of the report, the agency said, included:

  • 41.4% of the agency’s workforce participated in an employee resource group. “This continues to position the agency at four times the industry standard membership goal of 10% of an organization’s workforce,” NCUA said in a release.
  • 17% and 4.7% of NCUA’s workforce self-identified as having disabilities and targeted disabilities, respectively. NCUA asserts that since 2017, it has exceeded the federal employment rate goals for employees with disabilities and employees with targeted disabilities.
  • Of new hires, 6.3% were hired using the Schedule A hiring authority, up from 4.3% in 2022.

NCUA Releases Fiscal Year 2023 OMWI Annual Report to Congress

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