Money like a woman with Bethpage

Bethpage, a credit union based in New York, serves nearly 500,000 members and operates 38 branches with $13 billion in assets. The institution is launching an innovative strategy centered around women’s empowerment through a new “Money Like a Woman” mission.

Bethpage's CEO, Linda Armyn is the purpose-driven leader of New York's largest credit union. Her path in the financial world has tracked enormous changes in the economy and in wider culture, but it has also been a testament to the power of perseverance and vision. When she first joined the industry, the unspoken rule dictated that professional attire should conform to the male-dominated world of work. As Armyn recalls, it may actually have been spoken aloud, not exactly a confidence-builder on your first day in a new company. Yet Linda refused to be confined by these outdated norms, and, as it turned out, she was not the only one.

In fact, the world is witnessing a remarkable tide of female empowerment, with women breaking down barriers and changing the game in sectors as varied as education, business, and sports. From Taylor Swift's self-made journey to billionaire status, even registering on the Fed's Richter scale in 2023, to Simone Biles' unparalleled dominance in the athletic arena, women are shining brighter than ever before. "Looking at the success of women across all industries the winning formula appears to be a healthy mix of bold and authenticity," says Armyn.

As a not-for-profit credit union, Bethpage has always been driven by a purpose beyond profit – to serve its members and help the community thrive. With 23 years at the company, Armyn has seen firsthand the ambitions and the challenges that their members face in forging a path to financial security for themselves and their families.

"We've crystallized all of this into our new movement called Money Like a Woman a philosophy that is based on sound financial thinking and the culmination of generations of thoughtful financial insights by women for men, boys, girls…everyone!" says Armyn.

It's attuned to all the ways the financial world has historically treated women, even though they traditionally make many of the household cash-flow decisions. She is daily inspired by all the progress women have made, sometimes against challenging odds. What could they accomplish with the financial tailwind they deserve? The research is clear: when women are financially empowered, they often invest in the wellbeing of their families and communities. In the realm of microfinance, studies have shown that small loans given to women have a more profound impact, as they are more likely to be invested in sustainable ventures (e.g., a cow; a well; a loom) that support their kids and extended families, fostering growth and achievement for the next generation.