Letter to Credit Unions 16-CU-05
Voluntary Diversity and Inclusion Policies and Practices Checklist
September 2016

NCUA’s LTCU 16-CU-05 on Voluntary Diversity and Inclusion Policies and Practices provides credit unions a voluntary self-assessment checklist to help credit unions assess their diversity and inclusion policies. Any such assessment by a credit union is strictly voluntary.

The assessments are part of an effort by federal banking agencies to evaluate diversity and inclusion within their regulated industries. NCUA explained the initiative in a June 2015 Letter to Credit Unions, 15-CU-05 (NASCUS summary here). Individual credit union assessment results form participating credit unions will not be shared with examiners and will have no bearing on CAMEL ratings. There is no penalty for credit unions that currently have limited or no diversity or inclusion polices in place.

(NASCUS note: There is also no penalty for not participating.)

In addition to the checklist, NCUA includes additional resources for interested credit unions, including an article explaining a business investment case for diversity as well as the Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies.

Additional questions on the voluntary program may be directed to NCUA’s Office of Minority and Women Inclusion at 703-518-1650 or by email at OMWImail@ncua.gov.

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