Why DEI for Credit Unions O h i o C r e d i t U n i o n L e a g u - - PowerPoint PPT Presentation

Why DEI for Credit Unions

O h i o C r e d i t U n i o n L e a g u e D E I To w n H a l l 1 0 . 1 5 . 2 0 2 0 M o n i c a D a v y, O f f i c e o f M i n o r i t y a n d Wo m e n I n c l u s i o n

“Any opinions expressed are my own views and do not necessarily reflect those of the National Credit Union Administration or the NCUA Board.”

• DEI Definitions
• Why DEI is necessary for

business success?

• Current state of DEI for

CU Industry

• Implementation plan to

move forward

Discussion Points

Let’s talk about…..

Definitions

• Diversity
• Equity
• Inclusion

Ohio CU League Town Hall: Why DEI for Credit Unions

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Changing demographics

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Changing demographics

7 Non-Hispanic White Racially Diverse (all other)

Ohio CU League Town Hall: Why DEI for Credit Unions

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Inclusion

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Diversity, Equity and Inclusion

• Diversity
• Getting differences in the door, on your boards, on the teller line,

management team, membership

• Equity
• Examining processes, policies and products to ensure equitable

treatment and to identify and remove barriers

• Inclusion
• Creating an environment where differences are valued, all can

contribute and feel like they belong and members can see themselves in your CU

Ohio CU League Town Hall: Why DEI for Credit Unions

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Which one do you focus on first?

Ohio CU League Town Hall: Why DEI for Credit Unions

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The Business Case

Ohio CU League Town Hall: Why DEI for Credit Unions

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Why is diversity important?

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DEI = Helping More People

The Business Case

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In Credit Unions

• Growth – diversity creates opportunities for growth in untapped markets
• Innovation – diversity gives credit unions the ability to create more innovative solutions and services that

meet members’ needs

• Talent – diversity allows credit unions to attract employees and volunteers from a broader pool of talent

Ohio CU League Town Hall: Why DEI for Credit Unions

The Business Case

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• 12 percent higher discretionary effort
• 19 percent higher intent to stay
• 57 percent more team collaboration
• 42 percent higher team commitment

than those low on diversity and inclusiveness.

Corporate Leadership Council

Current State of DEI

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Source: Credit Union National Association, Annual Member Survey 2018

• The typical credit union CEO -- 90% White and 3.6% Black and Hispanic/Latinx
• The typical credit union leadership team -- 90% White and 5% Black
• The typical credit union board -- 90% White and 8% Black

Ohio CU League Town Hall: Why DEI for Credit Unions

• 51.4% of all federally insured credit unions have female CEOs
• Only 14.5% of federally insured credit unions with more than $1 billion in assets are

led by female CEOs

• Only 2% of credit unions submit diversity self-assessment to NCUA

Source: NCUA 12.31.19 call data

How do we start?

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• Why are we doing this?
• Where am I on my

personal journey?

• Where is my credit union
• n this journey?
• What is our credit union’s

and our leadership’s readiness?

• What goals or objectives

in our strategic plan can be advanced through DEI?

Ask leadership these questions

• Contains credit union

diversity best practices!

• It’s Voluntary
• Not a part of the

examination process

• No penalty for no or

limited diversity efforts

• Results reported ONLY

in the aggregate

Credit Union Diversity Self- Assessment

Best Practices

• Website

– A link to diversity or diversity-related information should be within one click of the home page (Vision, Mission, Values, Definitions, Business Case, Policy Statement) – Your website’s career page should have diversity information (But not the only place!)

• Marketing

– Are your materials available in the languages your members speak and read? – Do you regularly use multi-cultural images in outreach, including your website, social media? – Do you highlight products that benefit diverse members?

• What do your members see when they walk into your credit union?

– Does anyone look like them? – Do the decorations reflect the holidays they celebrate? – Can they read your signs? – Is your space accessible?

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Inclusion

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If you don't intentionally, deliberately, and proactively include, you will unintentionally exclude.