Monday, August 12, 2019

Is There A Glass Ceiling at Large Credit Unions?

This is a question posed by Jordan van Rijn at the end of a research paper, Does CEO Gender Matter at Financial Institutions? An Event-Study Analysis of Credit Union Data, comparing the impact of gender differences on risk management and performance at credit unions.

The paper noted that 52 percent of all credit union chief executive officers (CEOs) were female, but only 14 percent of large credit unions with over $1 billion in assets have female CEOs.

The paper offered several explanations for this glass ceiling at large credit unions.
  • There may be fewer qualified female executives, "due to historically lower numbers of female graduates of MBA, finance, and economics programs."
  • Women may place a greater emphasis on flexible work schedules and family time compared to men. Therefore, women would be less likely to apply for jobs with longer work hours.
  • Women may desire positions with less competition and prefer working for smaller credit unions.
  • Discrimination in hiring practices may play a greater role at larger credit unions.
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