NCUA Board Approves Annual Performance Plan; Briefed on DEIA Strategic Plan

Jan. 18, 2024 – The National Credit Union Administration Board held its first open meeting of 2024 and unanimously approved the agency’s 2024 Annual Performance Plan and received a briefing on the Diversity, Equity, Inclusion, and Accessibility Strategic Plan, 2024–2026. This was Board Member Tanya Otsuka’s first Board meeting.

NCUA’s 2024 Annual Performance Plan Approved
In a 3 to 0 vote, the Board approved the NCUA’s 2024 Annual Performance Plan, which provides specific direction and guidance toward achieving the mission and the strategic goals and objectives outlined in the agency’s 2022–2026 Strategic Plan.

“As I have often said, if you don’t measure it, you can’t manage it. That’s what makes this plan so important,” Chairman Todd M. Harper said. “The NCUA in 2024 will continue to address consumer financial protection on equal footing with safety and soundness, including by increasing the number of fair lending exams. Also, the NCUA will continue to focus on the rising and continuing challenges within the credit union system. Those risks include liquidity, interest rate, credit, and compliance risk, as well as the omnipresent cybersecurity risk.”

The Annual Performance Plan was developed simultaneously with the 2024–2025 budget. As part of the budget development process, NCUA offices justified how budget requests would further the purpose of the NCUA’s strategic goals and objectives. They identified specific performance indicators that demonstrate the results of these budgetary investments.

Diversity, Equity, Inclusion, and Accessibility Strategic Plan Briefing
The NCUA Office of Minority and Women inclusion briefed the NCUA Board on the 2024–2026 DEIA Strategic Plan. The plan represents a roadmap through which the NCUA can promote a culture of inclusion by leveraging existing initiatives and embracing new and innovative DEIA efforts and solutions. The plan aims to identify and adopt best practices to promote diversity and inclusion and mitigate identified barriers to equity and accessibility.

The strategic plan includes four strategic goals, 12 objectives, and a performance indicator for each objective. The strategic goals are:

  • Promote diversity
  • Eliminate barriers to equity
  • Cultivate a culture of inclusion
  • Promote and advance accessibility

Said Chairman Harper, “The four goals in this plan will reinforce the NCUA’s priority of diversity, equity, inclusion, and accessibility as an imperative within the agency and the credit union industry. In doing so, the credit union system will be better positioned for sustainable progress.”