Editor’s Note: NCUA Board Member Todd Harper offered these remarks during the recent AACUC meeting in Atlanta, prior to the presentation of the Maurice R. Smith Awards Dinner.
By Todd Harper

I can think of no better place to deliver my first public remarks since the court ordered my reinstatement to the NCUA Board. That’s because as a proud gay man, I am passionate about expressing my support for DEI and believe deeply in the important work of the African-American Credit Union Coalition in advancing DEI across the financial system.
Earlier this year, I concluded my four years as the NCUA board chairman. And, I’m incredibly proud of what the NCUA team accomplished during that time.
Together, we made the credit union system safer and more resilient, increased fairness and protections for credit union members, and advanced equity to ensure the credit union system worked better for all Americans.
I’m especially proud of the progress we made in advancing diversity, equity, and economic inclusion within the credit union system and at the agency. That’s mandated work because the statutory mission of the credit union system is to meet the credit and savings needs of members, especially those of modest means. And, we know that African-American households are often of modest means.
‘Tailored Exams’
Minority depository institutions, or MDIs, are also a sizable and important part of the credit union system. Because MDIs operate differently than other credit unions, we tailored our exam procedures to adopt an apples-to-apples approach of comparing MDIs to their peers and allow them to better serve people of modest means.
Through the new Small Credit Union and MDI Support Program, we provided customized assistance to resolve operational issues and identify new opportunities for the institutions that are at the heart of the credit union system.
We adopted a new, interagency rule to ensure that automated underwriting systems didn’t discriminate and followed the requirements of fair lending laws.
Moving ‘Expeditiously’
And, after Congress created the Emergency Capital Investment Program to support the communities hit hardest by the COVID-19 pandemic’s financial and economic disruptions, the agency moved expeditiously to finalize a rule to maximize the potential of this low-cost capital by allowing participating credit unions to hold this funding over 30 years. In all, federally insured credit unions have received more than $2 billion in capital investments under this initiative.
What’s more, we held annual summits during each of the last four years to highlight the importance of diversity, equity, and inclusion within the credit union system. Sadly, the agency won’t hold a similar conference this year because of political pressure.
NCUA & Umoja
Nevertheless, in recent years, two out of every five new hires at the NCUA came from diverse backgrounds. And, until late January, four out of every 10 NCUA team members had joined at least one employee resource group, including our African-American and their allies group called Umoja, the Swahili word for unity.
These efforts to build a culture of belonging and respect ultimately led the Partnership for Public Service to recognize the NCUA as one of the five Best Place to Work in the Federal Government for midsized agencies. Our global satisfaction, employee engagement, performance confidence, diversity, and belonging index scores all greatly increased under my leadership. In fact, our global satisfaction score rose by an astounding 12 percentage points in just two years.
Fear Momentum Will Stall
But now, I fear that positive momentum will stall and even slip backwards. Some have even tried to discredit and vilify the DEI acronym. For me, however, the term means something quite different.
In fact, for me, DEI stands for “definitely earned it.” That’s because people of color, women, and members of the LGBTQ+ community have frequently had to work harder to get where they are in their careers and in society.
But, DEI also stands for something else. For those of you who may know Latin, DEI isn’t just an acronym. It’s also the for “God.”
Reflecting on God’s Grace
In the last few months, I’ve spent a considerable amount of time reflecting on my faith and on God’s grace as my partner of 33 years, Tom Beers, experienced considerable health setbacks, multiple hospitalizations, and ultimately took his last breaths as a mortal being.
Renee (Sattiewhite, AACUC president), it meant much to me that you and others within the credit union system and the African-American community joined me at the high mass or at the visitation to celebrate Tom’s life. Thank you!
During that church service, we often heard and recited “Agnus Dei” or “lamb of God.” And, we heard what a Christian should do to live a life of full of service to others and a life that creates a positive difference in the world.
Acting in a Christian Way
Maurice Smith throughout his career also grasped the importance of acting in a Christian way. He inherently understood that diversity initiatives enhance organizational performance and inclusivity. But, Maurice’s approach to leadership wasn’t just based on instincts. It was based on facts.
For example, a 2022 report by McKinsey and Company found that companies with greater gender and ethnic diversity are more likely to outperform their peers financially. And, Korn Ferry’s research indicates that teams designed with diversity in mind make better decisions compared to homogenous groups and are more likely to break into new markets.
And, because he understood the need for greater diversity, equity, and inclusion within the financial system, Maurice used his platform as the chairman of the Credit Union National Association to advance adding DEI as the eighth principle of the cooperative movement.
Continuation of the Work
Tonight’s DEI awardees are the continuation of the important DEI work that Maurice started.
The recent efforts to roll back DEI progress within the federal government and at many companies have also led me to reflect on my own experiences growing up. And, it’s especially reminded me of my time in concert choir when we sang a song by Barry Manilow.
Don’t worry. I’m not going to talk to you about how Barry Manilow once flirted with my life partner, Tom, while in the ticket line at the Minneapolis airport in the 1980s. We can discuss that privately later.
Instead, I’m going to talk about Barry Manilow’s unifying ballad called “One Voice.” That song eloquently illustrates how it takes just one voice to speak up and inspire solidarity for positive change, much as Maurice Smith had demonstrated throughout his storied career within the credit union system.
The Voice?
I first learned that song my freshman year of high school. As a scared, closeted, gay kid, that song spoke to me. I asked myself, “Could I be that one voice?”
What I didn’t know until many years later was that there were other scared, closeted, gay kids singing in that same choir with me, people like my friend, Sally Selwan, who now lives in Chicago with her wife Shelley. Together, they’ve been together for 26 years and married for 10 of them. And, there’s also Danny Medina, who we sadly lost during the AIDS epidemic. That song had to speak to both of them as well.
So, to close and inspire you to walk tall and carry on during these turbulent times, I want to share the poetic lyrics of that empathetic ballad. As I read them, I ask that you think of Maurice Smith who was initially that one voice calling for change within credit unions and each of tonight’s honorees who have joined with Maurice’s voice in their own DEI work.
The Lyrics
Just one voice
Singing in the darkness
All it takes is one voice
Singing so they hear what’s on your mind
And when you look around you’ll find
There’s more than one voice
Singing in the darkness
Joining with your one voice
Each and every note or another octave
Hands are joined and fears unlocked
If only one voice would start it on it’s own
We need just one voice facing the unknown
And then that one voice would never be alone
It takes that one voice
Just one voice
Singing in the darkness
All it takes is one voice
Shout it out and let it ring
Just one voice
It takes that one voice
And everyone will sing
So, sing. Be who you are.
Work to make our financial system more inclusive by providing safe, fair and affordable financial products and services to people of all backgrounds, including to those in the African-American, Hispanic, Native American, and LGBTQ+ communities, among many others.
That’s how we’ll continue to make progress and ensure the full promise of the credit union system and create a stronger middle class and a more stable democracy for our country.
Be safe. Be well. Be kind. Thank you!
Todd Harper is a member of the NCUA board.