The NCUA Chairman Rodney E. Hood with the agency’s 2019 class of summer interns at the agency’s headquarters in Alexandria, Va., on July 31, 2019.
The NCUA’s primary responsibility is to ensure the continued safety and soundness of the nation’s credit union system. Where appropriate, however, the agency encourages the credit union system and the broader financial services industry to support the communities and citizens they serve by providing greater economic and employment opportunities.
Second Chance Policy Initiative
In November 2019, the NCUA Board approved a final interpretive ruling and policy statement (opens new window) allowing people convicted of certain minor offenses to return to work in the credit union industry without applying for the Board’s approval before doing so.
The policy change expands the list of exceptions. Specifically, convictions or program entries for offenses involving insufficient funds checks of moderate value, small dollar simple theft, false identification, simple drug possession, and isolated minor offenses committed by covered persons as young adults will not require an application to the NCUA Board, helping to expand potential employment opportunities for more Americans.
Diversity, Equity, and Inclusion
The business case for greater diversity, equity, and inclusion in credit unions is simple: diversity is a good investment. Credit unions were founded on the premise of people helping people. It thus makes good business sense to have board members, managers, and employees reflect the community the credit union serves. Diversity leads to better service, greater innovation, improved solutions, and increased membership. These things make credit unions strong and sustainable, which ultimately leads to a stronger credit union system.
- Office of Minority and Women Inclusion’s Annual Report to Congress
- Voluntary Credit Union Diversity Self-Assessment
- NCUA Chairman Rodney E. Hood Remarks - Diversity, Equity, and Inclusion Summit
Careers at NCUA
The NCUA seeks to promote financial inclusion to better serve a changing population and economy. As part of that mission, NCUA participates in many diverse career recruitment efforts to encourage an inclusive workforce. Diversity, coupled with inclusion, is integrated into how the agency does business. They are part of the fabric of our organizational culture.
The NCUA’s Student Intern Programs provide valuable work experience for high school undergraduate, graduate, law, and PhD students considering careers in economics, finance, accounting, information technology, law, and human resources. We believe that by combining academic endeavors with project-related work experience, talented students can gain the practical knowledge needed in a competitive workforce. In addition, these internship programs support the NCUA’s diversity and inclusion objectives. (opens new window)
- High School Scholars Internship Program – The NCUA hosts high school interns from the most economically disadvantaged areas of Washington, D.C. through the Marion S. Barry Summer Youth Employment Program. The agency provides high school students with a salary of $20 per hour, special compensation benefits for lunch ($20 per day), and a $650 professional attire clothing allowance. High school interns are also provided a laptop, which they can keep at the end of the internship.
- Pathways Summer Intern Program – Summer college interns receive a salary at an hourly rate ranging from $18.80 to $20.68 per hour, depending on the grade level at which they were hired. The interns earn annual and sick leave at a rate of four hours per pay period, and are reimbursed for internet service charges at a rate of $50 per month.
- Contract Intern Program – The NCUA has six individual multi-year contracts with minority-serving organizations to provide summer internship access and opportunities to college and university students in undergraduate, graduate, doctorate, and juris doctorate programs. Internships under this program have varying lengths, from 8, 10, 12 or 15 weeks. Under these contracts, the minority-serving organizations receive weekly compensation per student ranging from $1,157 to $2,021 from the NCUA. The organizations, in turn, are responsible for all pay and benefits the interns receive during their participation in the program.