Women CEOs from 13 credit unions of asset sizes $300M or less from across the nation came together to launch the Credit Union Women’s Leadership Alliance (CUWLA), a critically important support system to share best practices, offer opportunities for mentorship, better support the communities they serve, and more.
“Access to a trusted support system is a key factor in the sustainability of smaller credit unions, that, I believe, are the backbone of the credit union movement,” said Lily Newfarmer, president/CEO of Tarrant County’s Credit Union, CUWLA Founder and CUWLA Board Chair.
CEOs of smaller credit unions face unique challenges that are often best understood by those in a similar position. Smaller credit unions have all the same responsibilities, bottom line pressures, and compliance mandates of larger credit unions, but with the added burden of having to wear multiple hats. Many smaller credit unions are led by women, who must overcome their own set of hurdles within the financial services sector.
“By creating a support system such as CUWLA, women who run smaller credit unions will not only have opportunities to grow on a personal and professional level, but also have the needed tools to help them grow their credit unions and better serve their members,” Newfarmer added.
CUWLA provides an avenue to help preserve and sustain smaller credit unions. This initiative is an unprecedented effort to recognize and unite women CEOs in the lower asset categories, in an attempt to give voice to their concerns and provide opportunities to leverage economies of scale within their credit unions.
Details on how to join or support CUWLA and to obtain additional information will be provided at the CUWLA booth during the virtual GAC or visit CUWLA.org.
The CUWLA Founders are: