Credit Union Women’s Leadership Alliance (CUWLA) founder and board chair Lily Newfarmer spoke with Associations Now recently on the importance of women’s leadership within the financial services industry. The launch of the alliance was announced last month.

“We’re hoping to create an inclusive and safe space for women CEOs of smaller credit unions where we will share best practices, foster collaborative opportunities, and provide various levels of support and mentoring to each other,” said Newfarmer, who is also president/CEO of Tarrant County’s Credit Union in Fort Worth, Texas.

The pandemic hit fast-forward on their goal, Newfarmer said, as a 2020 study showed more than one in four women are contemplating downsizing their careers or leaving the workplace entirely. Women, especially women of color, are more likely to have been laid off or furloughed during the pandemic.