Letters to Credit Unions No.: 17-CU-07 2017 Voluntary Credit Union Diversity Self-Assessment
December 2017

NCUA has issued a Letter to Credit Unions (LTCU) to encourage federally insured credit unions (in particular those with 100 or more employees) to conduct and submit the Voluntary Self-Assessment Checklist to the NCUA Office of Minority and Women Inclusion before December 30, 2017.

NCUA has more information, including several useful tools, regarding diversity on a dedicated Credit Union Diversitywebpage.

As a reminder, surveying credit union diversity practices is NOT part of NCUA’s examination process. There is no penalty for credit unions that have limited or no diversity practices in place. The NCUA will not publish diversity information that identifies any particular credit union or individual.

Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act mandated the federal bank regulators (FBAs), including NCUA, issue joint standards to assess diversity in the financial services sector. The FBAs issued those standards in 2015. These standards are 100% voluntary. For more information, see NCUA Letter to Credit Unions 15-CU-05.

The NCUA Office of Minority and Women Inclusion aggregates the annual self-assessment data and only shares results anonymously. The data is used to monitor the credit union system’s progress and trends in diversity-related activities.

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