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 Discussion Points • Why DEI is necessary for Let’s talk about….. business success? • Current state of DEI for CU Industry • Implementation plan to move forward

Definitions  Diversity  Equity  Inclusion Ohio CU League Town Hall: Why DEI for Credit Unions 4

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Changing demographics Ohio CU League Town Hall: Why DEI for Credit Unions 6

Changing demographics Non-Hispanic White Racially Diverse (all other) Ohio CU League Town Hall: Why DEI for Credit Unions 7

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Inclusion Ohio CU League Town Hall: 9 Why DEI for Credit Unions

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 10

Which one do you focus on first? Ohio CU League Town Hall: Why DEI for Credit Unions 11

The Business Case

Why is diversity important? Ohio CU League Town Hall: Why DEI for Credit Unions 13

DEI = Helping More People Ohio CU League Town Hall: Why DEI for Credit Unions 14

The Business Case 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 15

The Business Case • 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 Ohio CU League Town Hall: Why DEI for Credit Unions 16

Current State of DEI  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 Source: Credit Union National Association, Annual Member Survey 2018 • 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 Ohio CU League Town Hall: Why DEI for Credit Unions 17

How do we start?

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• Why are we doing this? Ask leadership • Where am I on my personal journey? these questions • Where is my credit union on 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?

Credit Union Diversity Self- Assessment • 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

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? Ohio CU League Town Hall: Why DEI for Credit Unions 22

Inclusion If you don't intentionally, deliberately, and proactively include , you will unintentionally exclude . Ohio CU League Town Hall: Why DEI for Credit Unions 23