Onsite Coverage: NAFCU Women's Summit Focus on Women Executives
NASHVILLE, Tenn. — NAFCU held its inaugural Women’s Leadership Summit during its 45th Annual Conference at the Gaylord Opryland Resort in Nashville this week, and the focus was on women in the executive suite.
While the number of executives across all federal credit unions favors women, according to the 2012 NAFCU/Burns-Fazzi, Brock Survey of Federal Credit Union Executive Benefits and Compensation survey , there’s more behind those numbers.
SLIDE SHOW: Check out this slide show from the Women's Leadership Summit
The big numbers in the top executive spots has been due to their strong representation among the smaller credit unions. Overall, 68% have assets under $40 million, 39% have less than $10 million.
The majority of the smallest credit unions have women as their executives, especially in the number two and three executive spots in the organization. In larger credit unions, men appear more likely to hold these positions, especially as top executives, summit attendees were told in the Tuesday session.
“My goal today is to set the table for discussions because good research generates more questions,” said Jack Clark, principal of Clark and Chase Research, which conducted the research and prepared the report.
“When you are looking at credit unions with assets of $75 million and more and look at the talent pool it tends to favor men as far as available candidates,” Clark said. “So what is being done to recruit women graduating from universities or even other fields into the credit union industry?”
As far as compensation, the survey suggested that female top executives earn less than their male counterparts for some asset groups, particularly in the largest credit unions.
The average compensation for female top executives was about 18% lower than their male counterparts in credit unions with more than $335 million in assets, the survey said.
In credit unions ranging from $75 million to $335 million in assets, women appear to earn more than their male counterparts. However these top executive women appear to be comparably educated and are heading up credit unions with a little more in assets on average, the report said.