American Banker names ‘Most Powerful Women in Credit Unions’

In its inaugural Most Powerful Women in Credit Unions listing, American Banker shared the stories of 25 women leading the credit union industry through times of rapid and unprecedented change. Included among the 25 were four CU leaders from the Cornerstone region:

• Peggy Esparza, CFO, Texas Trust Credit Union
• Susan Williams, EVP/CFO, WeStreet Credit Union
• Winona Nava (Associate Member), president/CEO, Guadalupe Credit Union
• Tammy Passafiume, president/CEO, Diamond Lakes Federal Credit Union

15.  Peggy Esparza, CFO, Texas Trust Credit Union, Arlington, Texas ($2 billion in assets).

• Time in role: 1 year
• Time in credit union industry: 27 years 

Esparza became chief financial officer with no transition time when the credit union's previous CFO took leave. Esparza's initial focus as CFO was to maintain cohesiveness among the team and the credit union's mission without losing momentum. 

"The executives were highly supportive of my input regarding strategic financial direction that helped us achieve outstanding growth in all categories in 2021," she said. "After eight months in an interim capacity, my role of CFO became permanent."

Esparza said she has seen more upward mobility of women in credit unions in the past 10–12 years.

21. Susan Williams, EVP and CFO, WeStreet Credit Union, Tulsa, Okla. ($930 million in assets)

• Time in role: 10 years
• Time in credit union industry: 13 years

Williams learned how to solve complex problems in past roles in a variety of finance jobs at banks and one other credit union before joining WeStreet a decade ago. She put those skills to the test over the last year, leading the credit union's move into issuing secondary capital (subordinated debt). The option required deep research, educating the board, and creating new policies. It paid off.

"We placed $10 million in capital to invest in infrastructure to support affordable housing in the Tulsa area," she said.
In the last decade, Williams has seen opportunities for women at credit unions expand, particularly on the revenue-generating side in lending and leadership. She hopes to see more in the future.

24. Winona Nava, president and CEO, Guadalupe Credit Union, Santa Fe, N.M. ($271 million in assets)

• Time in current role: 31 years
• Time in credit union industry: 44 years

Hired as a collector at State Employees Credit Union, Santa Fe, in 1978, Nava worked her way up the ladder over more than a dozen years to executive vice president. In 1991, she learned that Guadalupe Credit Union was teetering on the verge of closure with slightly over $10 million in assets. She saw an opportunity to turn the beleaguered institution around and stepped in as CEO.

Over 20 years ago, Nava made the bold move to initiate individual taxpayer identification number lending to expand financial access to residents who lacked other documentation. "Some staff and credit union members weren't open to the change and some resigned," she said. But Nava persisted, finding bicultural residents to fill positions and providing cultural sensitivity training to staffers to maximize financial inclusion.

25. Tammy Passafiume, president and CEO, Diamond Lakes Federal Credit Union, Malvern, Ark. ($86 million in assets)

• Time in role: 8 years
• Time in credit union industry: 33 years

Hired by a credit union as a teller while selling them insurance more than three decades ago, Passafiume quickly became a believer in credit union culture. She was appointed CEO at her hometown credit union in Arkansas when the previous chief left the job. Nine years later, the CEO role at Diamond Lakes opened up and she got the job.

As one of the founding members of the Credit Union Women's Leadership Alliance, Passafiume mentors other women and spreads her passion for an industry she believes offers unique benefits for women.