Women Credit Union CEOs Debut Mentorship Program

Source: American Banker (Subscription may be required)

A credit union advocacy group formed by women leaders is launching a training program to make sure its members are able to grow their organizations and avoid the need for consolidation.

The Credit Union Women’s Leadership Alliance was created in December 2020 through the collaborative efforts of 13 female chief executives and the Madison, Wisconsin-based insurance firm CUNA Mutual Group to offer a forum for sharing best practices and policies — as well as other resources — exclusively for women CEOs who run institutions with assets of $300 million or less. 

The nonprofit organization seeks to distinguish itself from prior groups by serving as a sounding board solely for female member executives whose day-to-day tasks often extend beyond the C-suite, according to Lily Newfarmer, president and CEO of the $122 million-asset Tarrant County’s Credit Union in Fort Worth, Texas, and one of CUWLA’s key founding members.

“Women who run smaller credit unions actually wear multiple hats … there's just this sort of standard joke that one day, you may be asked to secure a loan for a member or settle up the corporate account and make sure that's in balance, then maybe plunge the toilet later on that afternoon,” Newfarmer said. “You need that safe space so you can talk about things that only someone that's in your same environment and experiences can understand and support.”

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