Page 9 - 2022 Impact Report

CREDIT UNION IMPACT REPORT 9

Michigan State University Federal
Credit Union, with assets exceeding
six billion, is led by CEO April Clobes.

“As reflected in the data, our industry
has been working to grow the
number of women and people of
color in leadership in credit unions,”
said Clobes. “At MSUFCU, we have
a variety of leadership programs
to ensure that every person has
an opportunity to be prepared to
move into a leadership role. We have
several women on our board and
supervisory committee, and the
majority of our managers and leaders
are women. Creating an inclusive
environment for women and people
of color makes our organization
stronger and more successful.”

In the boardroom, CUNA reports that
a board member of a credit union 2021 Gloabal Women’s Leadership Network: Vickie Schmitzer, Liz Winniger, & Patty Corkery
is “twice as likely to be a woman
relative to a board member of a bank,” with 33% of While this report does not address women holding
credit union board seats held by women compared other c-suite positions or general representation of
to 16% at banks. Looking at the top 20 credit unions women of color in the industry, it does reveal that credit
in Michigan (in asset size), our state is better than the unions are scoring better than banks at hiring women
national average, but not by much, with only 37% of leaders. We also learn that Michigan’s large-asset-size
the board seats held by women.[4] institutions rate higher than the national average.
While there is always room to grow, as an industry, the
“ Creating an inclusive Michigan credit union movement should be proud
that 51% of credit unions nationally are led by women –
environment for women a significant difference between credit unions and the
dismal S&P 500’s only 6% women leaders.
and people of color makes

our organization stronger “United Federal Credit Union values different
perspectives at all levels of our organization,
and more successful.” including the board and leadership team. With
33% of our board of directors and 43% of our senior
leadership team being women, we see the positive
The Michigan Credit Union League (MCUL) has also impact that gender diversity brings and are making
helped advance the representation of women in the investments credit union wide to embed a larger
industry when it selected its first woman president/ focus on Diversity, Equity and Inclusion (DEI) across
CEO in May of this year. Out of the 35 state credit the organization,” said United CEO Terry O’Rourke.
union leagues around the country, Michigan is only “Working with a DEI consultant as our partner and
one of five leagues with a woman president. Further, guide, we recently launched a Diversity Council that
the MCUL Board is led by Chair Heather Luciani, CSO includes employees from several locations and all
of Honor Credit Union. levels of our team to incorporate and embrace DEI in
everything we do.”
“Our credit unions, membership and communities
benefit from the gender diversity that we bring to our
board rooms and decision making,” said Luciani. “The 1. CUNA article published in CU Today, May 11, 2021.
data reflects our commitment to overall diversity and 2. Catalyst, Women CEOs of the S&P 500 (April 1, 2021).
inclusion for credit union stakeholders and I am proud 3. It should be noted that CUNA is reporting CEO data from
2019 and the Michigan data is as of March 2021. Therefore, the
to be part of, and help to represent, an industry that comparisons may have changed slightly.
recognizes and elevates women in leadership roles.” 4. NCUA 3-31-21 Profile data at www.ncua.org