The National Credit Union Administration (NCUA) appointed Miguel Polanco as director for the Office of Minority and Women Inclusion (OMWI). He will oversee the agency’s requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 to develop and promote standards for workforce diversity, supplier diversity, and equal employment opportunity. Polanco also will assess the diversity policies and practices throughout the credit union industry.
“Diversity within our workforce, with our suppliers, and within the financial institutions under our supervision is critically important to me,” NCUA Chairman Todd Harper said in a release. “I am very grateful for everything that OMWI does to cultivate diversity, equity, inclusion, and belonging both at the NCUA and within the credit union system. I know Miguel’s determination, vision, and outstanding leadership will serve us well. I also want to thank Millie Avalos for keeping the team’s vital work on track while serving as acting OMWI Director for the last five months.”
Prior to his new position, Polanco served as the NCUA deputy director for OMWI and managed the agency’s supplier diversity program. Before joining the NCUA, Polanco worked for the Small Business Administration, served as a U.S. Army intelligence officer, worked in corporate finance with General Motors, and in investment banking at Citibank Puerto Rico.
“I am deeply honored to have earned the trust of the NCUA board members and senior executives to be the next OMWI Director,” Polanco said. “I look forward to advancing the agency’s strong diversity, equity, and inclusion foundation that the OMWI staff built under my predecessor Monica Davy and fostering a sense of belonging across our employee ranks.”
NCUA Vice Chairman Kyle Hauptman and Board Member Rodney Hood congratulated Polanco on his new role.
“[Polanco] has been an integral part of OMWI and its accomplishments,” Hauptman said. “His background will help OMWI build on that success. I’d also like to thank Millie Avalos for stepping up as director in the interim.”
“His passion for diversity, equity, and inclusion combined with his military credentials and education at West Point gives him a leadership platform to make a difference in this role,” Hood added.