Today’s blog is related but will focus on the advancement of women within credit union leadership. Before we dive in, let’s acknowledge that credit unions are already ahead of other industry players when it comes to diversity, inclusion, and women’s success! NAFCU has found there are more than 10X as many female CEOs in credit unions than in banks, and over 3 times more credit union minority depository institutions (MDIs) than bank MDIs.
However, there is always work to be done. Earlier this week, the Global Women’s Leadership Network released the report We for She: Advancing Women’s Leadership in Credit Unions, providing a peak into the lives of women credit union leaders and staff. The report discusses five key issues facing women’s advancement in the workplace along with actions that can be taken by credit unions and employees at all levels, to advance women’s leadership in the credit union movement.
Promote Women’s Leadership. Credit unions can deepen organizational succession plans, emphasizing women’s leadership roles and offer growth assignments for women to learn new skills and gain experience. Credit unions can also organize mentorship programs to connect women with similar experiences or goals. Women and advocates within the credit union can encourage each other to build and grow networks and use them strategically, set up advisor groups, comprised of women inside and outside the credit union sector, and create personal strategic plans to measure growth.
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