NCUA Chairman Todd M. Harper emphasized the power of allyship to achieve diversity, equity, and inclusion goals during his remarks Wednesday at NCUA’s 2023 Diversity, Equity, and Inclusion Summit in Washington, D.C.
“Both the NCUA and the industry have the need and ability to improve their DEI efforts,” Harper said. “For our part, the NCUA will continue to explore ways to be a better ally to those who, through no fault of their own, are on the outside looking in. And while credit unions have likewise made strides in DEI, they also have room for improvement, according to recent research by the NCUA’s Office of the Chief Economist.”
The research referenced by Harper uses the general framework and criteria set forth in a Social Index developed by Fannie Mae, Freddie Mac, and the Federal Housing Finance Agency to evaluate the social attributes of mortgages originated by credit unions in 2022.
Harper also urged credit unions to embrace allyship to improve performance and spur innovation. This principle, he said, will ensure the credit union system is a vehicle for greater economic opportunity and financial security for all Americans.
To learn more about the 2023 DEI Summit, go to https://ncua.gov/news/events/dei-summit-2023.