NCUA’s Hood Calls for True Inclusion Through Cultural Change

As the first African American to lead a federal banking agency, NCUA Chair Rodney E. Hood said he felt compelled to share his thoughts about the death of George Floyd and called for the agency and credit union movement to strive for true inclusion through cultural change.

“As an African American man, I am shocked and appalled and share the heartbreak of many in the black community. I am all too familiar with the anger and frustration that comes with the everyday challenges and realities surrounding race,” Hood said in a statement released Tuesday. “While I pray for justice, healing and peace for our nation and for the family and loved ones of George Floyd, I am also encouraging everyone to have difficult conversations and to look for ways to promote diversity and inclusion within our communities. Individually and collectively, we can make a difference – one conversation and relationship at a time.”

Hood said discussions about race are more than simply about abstracts – they are personal.

“In my banking career, I’ve attended conferences and professional events where I was the only man of color in the room,” Hood said. “I’ve shown up early to speak on a panel discussion, and people were surprised to learn that I was a participant. I vividly remember the conversations with my father about how to engage with police when pulled over, and my mother performing safety checks on my car before I went out on the weekends to ensure the signal lights and brake lights were all functioning properly. In 2020, I find myself having similar conversations with my young African American cousins.”

Hood said the NCUA is striving to lead on these issues, noting that one of the priorities under his leadership is financial inclusion, which includes expanded access to the financial mainstream for underserved communities, diverse hiring, contracting and board membership.

Last month, Hood announced the creation of the NCUA’s Culture, Diversity and Inclusion Council, which will focus on issues of inclusion within the agency.

“True inclusion within our financial regulators, financial institutions and communities is a goal we all must strive toward,” he said. “Diversity is important, but without cultural change that encourages true inclusion, it risks being little more than checking the right boxes.”

Hood’s comments became part of a growing chorus of credit union leaders who have also called for the credit union movement to address racism.

In a new video posted Monday, CUNA President/CEO Jim Nussle pledged to use his voice and CUNA’s platform to address systemic racism.

“You know in my privilege, can I choose to remain in my comfort zone? Can I hide or even stay silent or just quietly watch the pain unfold as we have for the last number of nights? Nussle asked. “Or, in the face of hatred and bias, can I try and use my voice to speak out against racism? Can I choose to be empathetic to actively listen to and provide allied support? Well, the answer is yes, I can, and I shall. And that’s CUNA’s position too.”

Nussle has asked everyone in the credit union movement to ask what they can do to be an ally to the African American community and to truly help end racism in America.

“I encourage you to use whatever platform and life experiences you have, and then challenge all of us to live up to those ideals of people helping people, and I promise you your Credit Union National Association, CUNA, will do its part to also be that voice for the voiceless,” he said.