MADISON, Wis. — A new report from Filene Research Institute spelled out some of the challenges facing women in the credit union community.
The report — based on a survey conducted in the United States, Canada, and Mexico — found that women are more likely to commence their careers in the industry working in low-level positions and less likely to reach executive-level jobs than men.
However, the survey also revealed that men and women both reported little or no blatant discrimination in their CU workplaces. Still, women encounter certain challenges and obstacles in their quest for career ascendancy.
The report, which was conducted with support from the World Council of Credit Unions and Global Women's Leadership Network, surveyed a 753 credit union employees from 320 credit unions. Seventy percent of respondents were women.
The five of the most pressing issues facing women at CUs, according to the report, include:
- Women begin their careers in lower-level jobs that do not directly lead to executive positions.
- Across credit unions of all asset sizes, women in leadership positions are viewed as possessing "slightly more" authoritarian management styles, while they are nonetheless perceived to have less power and influence than men.
- Employees working under a female CEO view themselves "differently" than those managed by male executives.
- As most senior employees mentor younger colleagues of the same gender, it is more difficult for women to climb the corporate ladder, given that men tend to dominate senior positions in many credit unions.
- While neither gender cited family responsibilities as a career inhibitor, nonetheless senior male executives are more likely to have children than females, suggesting that women seem to make more "trade-offs" between career and family.
"The research is not done," said Filene CEO Mark Meyer in a statement. "This collaboration with the World Council shows us the challenges we face in credit unions, especially matching sponsors early on. The real work will come when leaders, men and women alike, take these challenges personally and resolve to overcome them."
Calyn Ostrowski, executive director of the Worldwide Foundation for Credit Unions, stated: "We need the credit union movement to step forward and unlock the leadership potential of women. This is at the heart of what we do through the Global Women's Leadership Network."
