There's great CU talent under that glass ceiling

It seems that every time a woman in business moves into the CEO's office, the words "glass ceiling" resurface. With good reason. In credit union circles, for example, the glass ceiling is still firmly in place. How have women armed with glass cutters done at the CU level? Not very well. In numbers, there are a lot of women managing credit unions, but don't be misled. A high percentage of female credit union CEOs can be found managing small credit unions. It's sad but true that many women will still work for less money than men. It is well-known that managing a small credit union is about the very last way to get rich. Men can't, or won't, take on the job of managing a small credit union for pay which in some cases is barely above the minimum wage level. Women, some women at least, will do so. Thus, it's really no great mystery why most small credit unions are headed by women. It has nothing to do with ability. Sometimes it is more difficult to manage a small "one-woman-band" credit union than a fully-staffed larger CU. It has to do with pay! And the willingness to work far harder than the compensation warrants. In terms of the glass ceiling, do any of these women eventually move up to manage larger credit unions after proving they have the smarts to do so? Almost never. They usually stay put for the duration of their CU careers. Let me hasten to add that the number of women managing mid-size credit unions is finally starting to grow. And over the years there has always been a somewhat static, modest number of women managing large, even very large, credit unions. So where do these women CEOs come from and how did they navigate their way through the glass ceiling? I just said that it is not likely that they were hired away from a small credit union. Instead, the answer is twofold: they either grew the credit union on their own, or they grew with a credit union. Let's first look at growing a CU. There are many examples of women who began their careers with credit unions that started in a shoe box. Years ago one well-known, respected, and very successful female credit union CEO told me that in the very beginning, when she went to the ladies room, the credit union went with her. She was the only employee. The credit union was literally in a shoe box. Thanks to her management and people skills, it wasn't long before the credit union began growing. It took many years of long hours and hard work, but eventually she became the CEO of a good-size credit union. To achieve that plateau, she didn't change jobs. She created her own opportunity at her original credit union. As it grew in assets, members, and staff, she grew with it. She didn't have to crash through any glass ceiling. There are many such stories. Many of these successful female credit union CEOs are still on the job doing great things for their members. And in the process, doing quite well for themselves as well they should because they are today managing large and successful credit unions. But there are a couple of downsides to this scenario. Here comes that glass ceiling again. For one thing, these women aren't making as much as their male colleagues managing similar size credit unions with similar experience. For another, what happened at the credit union these women built from ground zero when they retired? Almost all were replaced by a man. It's a pretty good bet that those still on the job will also find a man sitting in their chair when they step down. This example might indicate part of the reason. I once heard a board chairman of a credit union built from scratch by a great lady, make the following statement as she was nearing retirement: "Now that this credit union is so big, it's going to take a man to run it." How awful! How many other men in positions of power are out there who harbor these same prejudices? Since we are talking about the credit union industry, take a look around at some of the state and national credit union organizations. For example, at first there were no women heading up state leagues. Then one, later two, got the nod for the tiny leagues. Today, sharp women are appearing as CEOs of larger leagues. What about the staffs of all the national credit union organizations? Look at the top management organization chart. You might be surprised. Besides creating their own opportunities, another way many of today's female credit union executives side stepped the glass ceiling and reached the top was by moving up the ranks at their current credit union. As they took on greater responsibilities, these women were able to demonstrate their considerable managerial skills. They have been fortunate enough to work in a credit union where ability mattered and gender didn't. They cracked the glass ceiling with an outstanding track record during years of service to their credit union. Today some of the sharpest and most capable credit union executives are the hundreds of women on senior management teams of the nation's highest-profile and most successful credit unions. These women are so good that they also could very easily transition into the credit union CEO spot at hundreds of credit unions overnight without a ripple. Will they? Probably not. At least not until the credit union industry admits that the glass ceiling is still a reality. Not until male-dominated credit union boards put gender aside and seek out the most qualified individuals available to run their credit unions. No credit union is too big for a woman to manage. As more women get to prove it, watch out for broken glass! Comments? Call 1-800-345-9936, Ext. 15, or Fax 561-683-8514, or E-mail mwelch@cutimes.com.