Female Leadership in the Financial Services Industry

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Throughout the 21st century, financial organizations have attempted to promote diversity and inclusion within their institutions. However, a 2019 United States Government Accountability Office report found that from 2007 to 2015, overall management representation of women remained unchanged in the financial services industry. In fact, according to a McKinsey & Company survey, women currently occupy fewer than one in five C-Suite roles in the financial industry. Credit unions are doing better than the industry overall – per CUNA, 52% of credit union CEOs are women. But there is still work to be done.

Leaders cannot sit idly by while this egregious trend continues – we must all work to improve representation of women at executive and leadership positions within our industry. Below are several ways in which credit unions can begin to close the gender gap and contribute to improving diversity, inclusion and equality.