ALEXANDRIA, Va.–NCUA is reporting it saw greater diversity among its new hires during 2015, and said it is committed to improving on that record. It acknowledged however, that despite progress diversity overall has not significantly increased since 2012.
"Greater diversity among our new hires, particularly at the senior staff level, is good news, but we know our job isn't finished," NCUA Board Chairman Debbie Matz said. "We recognize that NCUA still needs to do more. Beginning this year, the agency will launch several initiatives to promote greater diversity and inclusion. These efforts are part of our strategic goals, and we will be promoting them within both the agency and the credit union system."
In 2015, minorities made up 35% of new hires overall, an increase from 3% in 2014. Minorities also made up 25% of senior staff hires during the year, and 50% of new senior staff hires were women, the agency said.
The new figures are part of the annual report to Congress issued by NCUA's Office of Minority and Women Inclusion. The report, required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, is available online here.
“NCUA's workforce analysis showed that, despite progress, diversity overall has not significantly increased since 2012,” the agency said in a statement. “As a result, NCUA is adjusting its long-term diversity and inclusion strategy to improve its track record.”
Beginning this year, NCUA said it reviewed and refined its initiatives to recruit, retain and promote women and minorities. The initiatives include:
- Chartering employee resource groups to support the retention of diverse employees;
- Establishing an employee mentoring program;
- Developing an intentionally inclusive leadership culture;
- Providing additional training to employees and managers on unconscious bias; and
- Amending the charter of the agency's Diversity Advisory Council to include greater senior executive representation.
NCUA said its efforts to create more diversity among its suppliers also continued last year. In 2015, NCUA awarded $7.3 million, or 22.5%, of its $32.5 million in contracts to minority- and women-owned businesses. This was the third consecutive year in which the agency surpassed the 20% mark in its supplier diversity levels. NCUA made $9.2 million or 25.5% of its $36 million in contract payments to minority- and women-owned businesses in 2015.
"A diverse supplier base is a sound business policy and allows NCUA to use its resources more effectively and efficiently," Matz said.
The 2015 congressional report also includes information about NCUA's ongoing efforts to promote financial literacy and help federally insured credit unions assess the diversity levels of their workforces.