Markets Wired

Growth, Innovation, and Access to Talent among the Benefits

ALEXANDRIA, Va. (Oct. 21, 2016) – Credit unions can learn more about the business advantages of promoting greater diversity and inclusion in a new video released today on the National Credit Union Administration’s YouTube (opens new window) channel.  

The seven-minute video, available here (opens new window), highlights how diversity in credit unions contributes to greater innovation, provides access to a larger pool of talent and creates opportunities for growth.

Monica Davy, Director of NCUA’s Office of Minority and Women Inclusion, hosts the video, which includes appearances and commentary from NCUA Executive Director Mark Treichel and leaders from Educational Systems Federal Credit Union, Veridian Credit Union, the African-American Credit Union Coalition, the Credit Union National Association and the National Association of Federal Credit Unions.

The new video is one of several resources NCUA provides to help credit unions better understand the importance of diversity and inclusion.

Credit unions also can take advantage of the voluntary diversity self-assessment tool, which helps them assess their current diversity position. The tool also helps NCUA gather data to track diversity in the credit union system, as required by the Dodd-Frank Act. Credit unions are not required to use the tool, and a self-assessment does not affect a credit union’s CAMEL rating. NCUA encourages credit unions to use the tool and provide data to the agency by Nov. 30.

For more information about why promoting diversity and inclusion is a good investment for credit unions, the Office of Minority and Women Inclusion has published articles in the November 2015 (opens new window) and June 2016 issues of The NCUA Report.

NCUA’s Office of Minority and Women Inclusion oversees issues related to diversity in the agency’s management, employment and business activities. The office works to ensure equal opportunities for everyone in NCUA’s workforce, programs and contracts. It also works to preserve minority depository institutions and assesses the diversity policies and practices of credit unions regulated by NCUA.