While the NCUA's Officeof Minority of Women Inclusion was created to ensure diversityin management, employment and business activities, the two-year olddivision has much more room to have an impact.

That's according to the African American Credit Union Coalition, which just releasedsix recommendations for the NCUA to consider.

Among them is providing a further breakdown analysis of minorityand women-owned business contractors and suppliers with regard tothe percentage of minority-owned businesses versus women-ownedbusinesses.

The AACUC also suggested engaging trade organizations to promotediversity as a credit union best practice via conference sessionsand include in roundtables meetings a more comprehensiverepresentation of credit union trade and advocacy groups.

The coalition also recommended establishing a SEC counterpartrule requiring credit unions to report its diversity policy and themethods used to diversify its workforce including boards and seniormanagement on Call Reports.

Through its OMWI, the NCUA should also consider encouraging theproactive recruitment of qualified minorities and women withrespect to the strategic needs and goals of the agency and creditunions, the AACUC said.

This can be accomplished by utilizing the talent banks orbiographical databases of credit union advocacy groups such as theAACUC or Network of Latino Credit Unions & Professionals forworkforce placement referrals.

Finally, the AACUC suggested increasing transparency ofprocurement process for goods and services contracted for and bythe NCUA in areas such as asset management, for instance.

In 2010, the Dodd-Frank Act established a mandate that requiredthe NCUA and other agencies to create OMWIs.

“The AACUC commends and supports the NCUA's OMWI in its effortsto comply with the Dodd-Frank Act mandates. However, theagency must go further. The AACUC recognizes and advocates fordiversity as a means to foster new approaches and freshperspectives toward achieving credit union perpetuity forgenerations to come,” the AACUC wrote in a position paper,Dodd-Frank, Diversity and the Credit Union Movement.

In January 2011, the NCUA opened its OMWI in compliance with theDodd-Frank Act and submitted to Congress its first report asrequired by the law.

In its report released in April 2012, the NCUA said it needed to domore with its efforts to hire more minorities.