NCUA released its Office of Minority and Women Inclusion (OMWI) annual report Wednesday detailing the agency’s progress in 2020 in advancing diversity, equity, and inclusion in its workforce. The report also highlights the agency’s efforts to ensure fair and inclusive business practices as well as assess the diversity policies and practices of the entities it regulates.
Among the accomplishments highlighted in the report:
41.5% of new hires in 2020 were people of color. Also, gender diversity among the agency’s senior executives achieved parity for the first time.
15.4% and 4.2% of the NCUA’s workforce self-identify as having disabilities and targeted disabilities, respectively. These figures exceed the federal employment goals established in Section 501 of the Rehabilitation Act of 1973.
23.4% of the NCUA’s workforce participated in employee resource groups, more than twice the benchmark participation rate for successful programs like these.
188 federally insured credit unions submitted Voluntary Credit Union Diversity Self-Assessments in 2020, up 59.3% from 118 submissions in 2019.
33.2% of the NCUA’s total reportable contracting dollars for the year were awarded to minority- and women-owned businesses.
15 facilitated, open discussions on racial injustice and racism were hosted by OMWI in the aftermath of the killing of George Floyd and the nationwide Black Lives Matter demonstrations, and for nearly all special emphasis programs observances, OMWI hosted an event featuring a guest speaker who provided a range of experiences and insights into how to be more intentionally inclusive in the workplace.
NCUA’s Office of Minority and Women Inclusion oversees all agency matters relating to measuring, monitoring, and establishing policies for diversity in NCUA’s management, employment, and business activities. It also assesses the diversity policies and practices of NCUA’s regulated entities, excluding the enforcement of statutes, regulations, and executive orders pertaining to civil rights.
Credit Union Magazine’s Fall 2022 issue highlights credit unions’ role in cryptocurrency, the state of digital assets, cannabis banking compliance, the human side of technology implementation, and involving the board in financial discussions.
