Removing Barriers Blog

NCUA Holds Listening Session on Sustaining Minority Depository Intuitions
Posted May 26, 2016 by CUNA Advocacy

Yesterday, NCUA’s Office of Minority and Women Inclusion held a listening session on sustaining certified Minority Depository Institutions (MDIs). The session featured representatives from the African American Credit Union Coalition (AACUC), the Network of Latino Credit Unions and Professionals (NLCUP), the National Federation of Community Development Credit Unions (NFCDCU) and NCUA staff. MDIs compose a crucial element of the credit union difference, particularly when it comes to providing financial services to underserved populations.

MDIs can self-designate by telling the NCUA on its call reports that its percentage of potential minority members, current minority members, and minority board members each exceed 50%. NCUA is committed to the longevity of MDIs and provides MDIs with budgeting tools, marketing plans and strategic planning and other services when requested.  

Despite increased competition, MDIs are sustaining because of their ability to provide high-touch member relations and leverage community partnerships. Tim Anderson, who represented AACUC, highlighted the eviction prevention program at Government Printing Office FCU, where he serves as president/CEO, as an example of the services MDIs provide.