WASHINGTON —NCUA Board Member Mark McWatters told members of the Global Women’s Leadership Network that the group is imperative to advancing credit unions, as it is equally imperative to ensure employment and board opportunities exist for women.
In remarks to the GWLN’s breakfast meeting here, McWatters encouraged the audience of 170 U.S. credit union executives and board members to support personal circumstances that often facilitate a woman's decision to leave the workforce.
"Historically, men have continued to live a linear life progressing in their careers, but women tend to step out and sacrifice careers because they are responding to the real-world and personal needs," he said.
McWatters said that NCUA’s recently expanded rules around member business lending will benefit the public, including persons of color and women who own and operate small businesses. Specifically, the final rule eliminates regulatory requirements regarding loan-to-value ratios, obtaining the borrower's personal guarantee, unsecured loan limits and other restrictions.
"Women often lose access to services because they have insufficient collateral, live too far from financial service providers, cannot utilize digital remote services or are restricted in travel due to family or cultural reasons," he said, citing research done by the World Council of Credit Unions and the Filene Research Institute.