NCUA lobby Lobby of the NCUA.

The NCUA's Office of Minority and Women Inclusion (OMWI) released its Annual Report to Congress on Tuesday. In it, the agency outlined areas where its diversity policies and practices have succeeded and what areas need improvement.

The 53-page OMWI report revealed the following successes:

  • 481 credit unions (302 federal, 178 state-chartered, and one non-federally insured credit union) submitted a voluntary Credit Union Diversity Self-Assessment in 2022, up from 240 submissions in 2021.
  • 45.0% of the NCUA's total reportable contracting dollars for the year were awarded to minority- or women-owned businesses, and 38.5% of contract payments made during the year went to these vendors.
  • 40.2% of new NCUA hires in 2022 were people of color.
  • 17.1% and 4.3% of the NCUA's workforce self-identify as having disabilities and targeted disabilities, respectively.
  • 28.9% of the NCUA's workforce participated in employee resource groups.

Of the report's findings, NCUA Board Chairman Todd Harper said, "Diversity, equity and inclusion — along with belonging and allyship — serve as a pillar of the credit union industry and within the cooperative movement. At their core, DEI are more than policies and principles. They are foundational practices and behaviors to be acted upon and are embedded in our business practices. They are vital to strategy, sustainable growth, innovation, talent acquisition and employee retention at the NCUA and throughout the credit union system."

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Michael Ogden

Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.

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