We Can Do Better. It’s time for 50/50.

Last night, we inched closer to overcoming the equity gap. I am filled with a renewed sense of purpose and hope as I reflect on our spirited discussions at the Garden Theater in Detroit, where Community Financial Credit Union hosted a fireside chat event centered on Closing the Equity Gap. Alongside Lori Kitchen-Buschel , Teri Kuehn, and Teresa Freeborn , we ventured into hard conversations about the barriers women face and the seeds of action we can plant today for a flourishing tomorrow.

The equity gap for women is a complex tapestry woven from threads of deep-rooted archaic systems and economic, health, and social disparities. These gaps aren't solely about numbers on a paycheck but encompass the broader dreams and opportunities girls glimpse in their formative years and carry into their futures. Teresa Freeborn brought this to light with her insights, underscored by a life of achievements and sorrows that reminds us of the journey ahead to achieve true 50/50 parity in executive teams across all industries and boardrooms. In 2023, women CEOs finally outnumbered CEOs named John . Men named John represent only 3.27% of the United States population and, until recently, had greater representation than women among S&P 500 CEOs.

The dialogue took a deeply personal turn as we shared our experiences with discrimination and the solitude that can accompany leadership roles. The dual female leadership at Community Financial Credit Union, which Teri Kuehn and I share, serves as a beacon of what is possible when women ascend to positions of power. Yet, the climb can reveal daunting challenges.

Lori Kitchen-Buschel’s work with First Step Michigan sheds light on the harsh realities many women face, including those impacted by domestic violence, which First Step so courageously serves. Our workplaces must become havens that support survivors, with policies that reflect understanding and action. This isn't just an act of compassion. It's a strategic move towards closing this gap.

The visibility of women in leadership, particularly in sectors like credit unions, is often more illusion than reality. As Teresa Freeborn highlighted, female leadership at the top becomes rarer as organizations grow. This pattern needs immediate attention and action to ensure women's representation is genuine and widespread.

The audience challenged us during our robust question-and-answer session to advance the conversation regarding diverse women. According to McKinsey’s 2023 Women in the Workplace report , women are about one in four C-suite leaders. Only one in 16 are minority women. The panel recognized the need to move this forward in upcoming discussions, to understand what leads to these disparities, and to take action to narrow these even more extreme gaps.

My daughter, MacKenzie, asked the panel to move beyond the equity gap to address the dream gap. We shared how important it is to invite girls and women to dream without boundaries and to map what’s possible. We also explored how seeing women in leadership roles helps lift that dream lid. One of the highlights of the evening for me was after the event when a team leader from the credit union said to me, “Tansley, when I become a ceo, I will invite you to be on my panel.” Her confident statement of “when I become” gave me chills and demonstrated the necessity to share our stories, no matter how difficult. The dream gap lifts when we paint a picture of the impossible.

We explored the power of optimism in seeing progress. Yet, we must not be confused about how wide the gap still is. I shared with the group that I have been painfully surprised by my experience of the last two years. Having earned the president & ceo opportunity at Community Financial Credit Union, I believed negative experiences based on gender would be better. The opposite has been true, and across a host of spaces, I have been treated more poorly since stepping into the role. I am transforming this burden into fuel to provide better experiences for leaders. Our past wins have generated momentum that we need to accelerate.

To the girls who joined us, you are the embers of hope. The promise of change – to the young women just starting their journeys, to the mothers, mentors, and allies who guide them: nurture resilience, embrace mentorship, and build support networks as strong as braided hair, intertwining strength with gentleness.

Can 50/50 parity be achieved? Absolutely. A 2022 study conducted by Women Business Collaborative identified ten organizations within the S&P 500 that have achieved it. They are women-led organizations and half count on a female board chair.

Imagine, if you will, a world a decade from now where the barriers we discuss today are relics of the past. It’s a bold dream. Some may call it impossible. But it is within our reach. Each of us has a role to play in this transformation. Challenge the norms, advocate for fair policies, support women-led enterprises, and educate the young to recognize and challenge biases.

This discussion was essential, and we will continue the conversation, and more change must happen. It’s time to act, to advance with purpose, to be impatient, and to ensure that the world our daughters step into celebrates them for no other than the sheer brilliance of their individual and collective potential. The goal must be bold, and we must swiftly commit to increasing the diverse composition in our Board Rooms and executive teams. Let’s close the equity gap with the urgency it demands and, in doing so, create a talent pipeline for future senior leaders able to align with the needs of our ever-evolving society. Our race to 50/50 starts now. What might you do tomorrow to move us there?