WASHINGTON–CUNA CEO Jim Nussle told a breakfast meeting here that without more women in executive leadership positions, financial institutions will not be able to maintain their competitive advantage.
Nussle told the World Council’s Global Women’s Leadership Network (GWLN) here, which was meeting in conjunction with GAC, that “In the U.S., women make up 70% of the credit union workforce but only 15% of credit unions with $1 billion in assets are led by women. Globally, women control $12 trillion of consumer discretionary spending, yet women’s complaints about financial services range from a lack of respect to blanket solutions that leave them behind. Without more women in leadership positions, credit unions could struggle to understand and win over this crucial customer demographic.”
Nussle urged credit union leaders to get engaged in the advancement of women in leadership, and offered six strategies for increasing gender diversity:
- Sponsor women you know
- Serve as mentors
- Encourage women take on visible and complex projects in their organization
- Have succession and development planning for boards and leadership
- When recruiting for an open position, make sure your candidate pool is diverse
“The statistics must change. CUNA and World Council are committed to making a measurable difference,” said Nussle.
Global Women is a World Council program that was established in 2009 to address and facilitate greater gender balance among leadership positions. ‘’