Wednesday, April 29, 2020

OMWI Report: Men Outnumber Women in Leadership Positions at Large CUs

Recently, the National Credit Union Administration Office of Minority and Women Inclusion (OMWI) released its 2019 Annual Report.

The report provides information on diversity practices at credit unions.

While a slight majority of credit union managers and chief executive officers are women, female managers and CEOs outnumber men only in credit unions with less than $100 million in assets. Men primarily run credit unions with $100 million or more in assets.

NCUA reported that in 2019, 118 federally insured credit unions (76 federal and 42 state-chartered) submitted Credit Union Diversity Self-Assessments. This was up from 81 credit unions in 2018.

According to the Self-Assessment survey, 55.6 percent of responding credit unions reported a leadership and organizational commitment to diversity, while 48.2 percent reported taking steps to implement employment practices to demonstrate that commitment. But only 29.0 percent of the reporting credit unions were monitoring and assessing their diversity policy and practices.

The Self-Assessment survey found that few credit unions had developed solid business practices with regard to supplier diversity (7.7 percent) and transparency of diversity and inclusion practices (17.2 percent).

NCUA stated that 44 credit unions that did the self-assessment in both 2018 and 2019 reported a year over year improvement in their diversity practices.

However, these self-assessment results should not be generalized to the entire industry, as the results are probably skewed by sample selection bias.

Read the report.

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