Women don't want to be CEOs.

That comment, posted on our site in response to my last column about the lack of women in credit union CEO positions, was jarring.

Was it a provocative comment that went against the status quo? Or do most credit union boards believe women aren't applying for the top job because they don't aspire to it?

If it's the latter, and that mindset exists beyond the credit union community, our entire country will be left behind as other nations not only realize business is better when both sexes contribute at the top, they do something about it.

While we're busy cutting down Hillary Clinton, Carly Fiorina and others, Benazir Bhutto was elected Pakistan's first female prime minister nearly 30 years ago. Pakistan!

I think women absolutely do aspire to CEO positions, but for a number of reasons, feel like they can't. Here are four.

1. Today's desired skill set doesn't favor women.

Although the financial crisis is quickly fading into the past, many credit unions still favor CFOs when vetting CEO candidates. These CFOs presumably are male, although I could be wrong about that stereotype because my two credit unions have female CFOs.

The C-suite path to the corner office is cyclical. Following H.R. 1151's passage, when credit unions were rapidly expanding into community charters and multiple SEGs, a CEO with marketing experience was in vogue. Then, during the mortgage boom, lending executives were in demand. Now, it's a CFO who has the skills that will lead credit unions into the future.

Or does he? Hiring a CFO to weather the next financial crisis sounds like yesterday's solution, not tomorrow's.

CEOs don't have to be the best financial manager or know the most about technology. But they do have to be leaders who motivate and engage employees, aren't afraid to admit they're wrong, represent the credit union in the community, and create and implement a dynamic vision for the future. Women are just as skilled at those objectives as men, maybe even more so.

2. Career takes a back seat to other responsibilities.

I suspect it's a backlash to the latchkey kids of the 1980s that expects parents – especially moms – to put kids first in all situations. Kids today have better wardrobes, participate in more activities and carry more weight in family decisions than their parents.

I'm all for providing your children with the opportunity to have a better life, but if parents sacrifice everything – health, hobbies, social interaction and career opportunities – in favor of the children, the entire family suffers. Plus, children grow up thinking they're the center of the universe, and become depressed young adults when they leave the home and discover differently.

That societal pressure prevents women from advancing their careers. Melanie Stillwell, CEO of the $335 million Western Cooperative Credit Union in Williston, N.D., shared her story with me and addressed this issue.

why women aren't ceos She agreed that many women choose not to apply for CEO positions for personal reasons like family obligations. Whether or not they work outside the home, most women are still tasked with managing the household, which includes childcare, doctor's appointments, school and caring for aging parents. I'd add to that cleaning, cooking, laundry and the maintenance of everyone's happiness.

Women who are responsible for all of those things just don't have enough in the tank to take on the additional responsibility and stress of a big job like CEO of a financial institution.

Stillwell said when she took over as CEO in 2002, she had a three year old at home and a spouse who also worked full time. Her career advancement required everyone to make concessions regarding daycare, work schedules, travel and more. However, she had on her side a great daycare, a very understanding board and a husband with a flexible work schedule who was able to step in when needed to accommodate her late meetings, travel and other work commitments.

“Had all these factors not aligned for me, I would not have accepted the CEO slot,” she said.

Would a man be limited by those responsibilities? There are plenty of single dads, more than ever before, but their numbers are relatively few.

Even in 2016, the double standard exists and it's holding women back.

3. Men still condescend to women.

Susan Mitchell, who chairs the Global Women's Leadership Network, calls it the chuckle. Too often, when she brings up the need to promote more women in the credit union community, the men on the receiving end are patronizing. I've experienced it myself when even men who mean well provide face-palming feedback and advice. Women who assert themselves and expect the same opportunities as men are often placed into one of two categories: Masculine, bra burning feminists or spunky, cute pixies who, instead of a legitimate shot at success, receive a pat on the head.

Gender equality isn't only important for women, it's good for the entire credit union community, the nation and the world. In 2013, the Pew Research Center reported that a record 40% of U.S. households with children under the age of 18 have women who are either the sole or primary breadwinners. When nearly half of breadwinners are forced to settle for less income and fewer opportunities, it weakens the economy and lowers the nation's standard of living.

Women have been earning more college degrees than men since the early 1990s. Is it possible sexism has decreased the value of a college education and is partly responsible for America's shrinking middle class?

4. Women lack a network.

As executives advance, opportunities become more about who you know, not what you know. The GWLN is trying to help women overcome that obstacle. This great organization has formed 20 Sister Societies across the country, and 80% of the community's female CEOs who run large shops are active in the group. They share their stories with other women who aspire to the corner office but don't know where to begin or how to clear common hurdles.

Increasingly, the GWLN is scheduling events and meetings during other industry conferences, improving attendance. If you'd like to learn more about it, visit cuwomen.org.

Instant Insights /

4 Reasons Why Women Don&rsquo;t Apply for CEO Jobs

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