CUs' Diversity and Inclusion Commitment Outlined for Financial Services Subcommittee

CUNA and its members are committed to ensuring diversity and inclusion continue to play a meaningful role in every aspect of the credit union system, CUNA wrote for the record of a subcommittee hearing scheduled for Wednesday afternoon. The hearing, titled “An Overview of Diversity Trends in the Financial Services Industry,” will be the first conducted by the House Financial Services subcommittee on diversity and inclusion, newly formed for the 116th Congress.

“Presently, credit unions lead the way in gender diversity with 52% of all credit union CEOs being women. In addition, more than ten percent of all credit unions are minority depository institutions,” wrote CUNA President/CEO Jim Nussle. “That’s 3.5 times the number of minority depository institution banks in the United States. Still, CUNA and our credit union members are committed to doing even more. We recognize that credit unions must be intentional about increasing Diversity and Inclusion at leadership, board, and staff levels to continue to reach and better serve an increasingly diverse population."

Accordingly, the letter notes, CUNA Board Chairman Maurice Smith recently formed a Diversity and Inclusion Ad Hoc Working Group of credit union leaders tasked with taking an honest look at the credit union movement through this lens.

“We are committed to working with the Subcommittee and sharing the thoughts, findings, and experiences of our members who work to implement these concepts on an ongoing basis,” Nussle wrote.