Celebrating women in credit

The last few decades have seen large waves of women entering the credit profession. Women are entering into male-dominated offices and paving the way for other women to not only excel in credit positions but climb the ladder into leadership roles previously only allotted to men.   

Why it matters: To celebrate International Women’s Month, it’s important to acknowledge the women who have fiercely carved out a space for themselves in the vast field of credit even when it was not easy, whether that meant trudging into the muddy world of construction credit or pursuing a leadership position at a company where women seldom had a spot at the table. 

“When I reflect back on 20 years ago, I remember being introduced by a male sales manager at a meeting as the ‘accounting girl’ to a boardroom full of men, and I was definitely not the accounting girl,” said Amy Cook, CCE, credit manager at McNaughton-McKay Electric Company (Adrian, MI). “Those kinds of things aren’t happening anymore, I feel like we’re respected a lot more for what we bring to the table.” 

Over the last few decades, women have not only flocked to the credit field in big numbers but have assumed leadership positions largely allotted to men. “I’ve been in credit since 1998, and when I would go to events, it was always male dominated at the top and the women were the analysts or the processors, not the credit managers,” Cook said. “I do think the tables have flipped a bit and there are more women dominating across the board in those credit roles.” 

The construction field has historically been predominantly male, with many credit professionals starting out working in the trade itself before migrating up, but according to Cook more and more women over the years have entered the trade. “I am definitely seeing a lot more project managers that are women and women-owned companies in the construction field,” Cook said. “I was just looking at a credit application today for a new contractor that is 100% woman-owned. There’s no longer a traditional role for men or women. If somebody wants to do it, they just go do it.” 

As the new wave of credit managers flood the field with new ideas, arbitrary gender divisions erode as the status quo shifts away from the less inclusive offices of the past. “As the new generation comes in, there’s more space being created across the board, not just for women, but for everyone,” said D’Ann Johnson, CCE, corporate credit and contracts manager at A-Core Concrete Cutting (Salt Lake City, UT). “I’m seeing more diversity, and as more women move into these roles, there is a growing respect for them in these positions. The fight is not as hard as it used to be. It’s becoming less of an anomaly and more of an expected part of the norm.” 

Over the last few decades, women in credit management have proven repeatedly that they are capable of holding their own and thriving in credit without being held to unfair standards. “Before, if you were a working woman, you were associated with what they used to call the ‘Mommy Track,’ where you worked until you had kids and then you stayed home to be a mom,” Johnson said. “But now women are seen as being able to handle all of it, if that’s what they want. If they want to have a family and be an executive, they’re making it happen. Those doors are no longer being closed to them simply based on generational stereotypes.” 

While it might feel at times that you are the lone woman in your credit department, it can be empowering to forge professional relationships with other women in credit. “I think that women have become stronger in credit management and in their roles in general over the years, especially over the last 20 years,” said Sheryl Rasmusson, CCE, president at Kilgore TEC Products (Spokane, WA). “I believe that this has a lot to do with mentorship and the networking that NACM provides on the local and national scale.” 

As you grow throughout your career, allow your confidence to grow as well. Even if you are the only woman in the room, do not shy away from sharing your perspective. “It’s important to have a voice to share your input on the best practices and the ways we can impact the bottom line,” said Roxanne Price, CCE, CCRA, corporate credit manager at H&E Rentals (Baton Rouge, LA). “And every step of the way your voice can get a little bit louder with experience and knowledge.” 

The bottom line: By building strong networks of women within the credit community, many women can forge strong connections that aid their professional growth and push them to pursue leadership positions.