The National Credit Union Administration (NCUA) has released the 2023 Credit Union Diversity Self-Assessment Results Report. This voluntary self-assessment assists federally insured credit unions in evaluating their diversity, equity, and inclusion efforts.
“By publicly sharing the aggregated results of the voluntary credit union diversity self-assessment, we embrace a shared commitment to greater inclusion within the credit union system. We also better ensure that the system fulfills its statutory mission of meeting the credit and savings needs of members, especially those of modest means,” stated NCUA Chairman Todd M. Harper. “These results show positive change in advancing diversity, equity, and inclusion across the credit union system, and I encourage all credit unions to review the results to evaluate and benchmark their own inclusion efforts against others.”
During the 2023 survey year, which ran from October 1, 2023, to February 15, 2024, the NCUA received 334 voluntary diversity self-assessments. The assessment allows credit unions to measure their practices against five core standards. The NCUA’s analysis highlighted areas needing improvement: supplier diversity, transparency in publishing information on diversity practices, and developing a strategic plan for diversity that is both sustainable and measurable.
The initiative began in 2016 under Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. More details about this assessment can be found on the NCUA website at www.ncua.gov/CUDSA.
For the current survey year ending January 31, 2025, Optimal Solutions Group, LLC has been contracted as a third-party vendor to manage confidentiality by administering surveys and providing support services. This move underscores NCUA’s dedication to keeping assessment data separate from its supervision program.
The NCUA is an independent federal agency established by Congress to regulate federal credit unions. It manages the National Credit Union Share Insurance Fund with U.S. backing and insures deposits for over 135 million account holders in federal and most state-chartered credit unions while also focusing on consumer protection and financial literacy education.
