Bank takes interest in women

MAKING Challenge Bank the first choice for women is the task Michele Kilminster has set herself.

Ms Kilminster is Challenge Bank state manager Women in Business WA.

“I saw the job as an opportunity to do something positive,” she said.

Before starting the unit in WA, Ms Kilminster managed a pilot project for the scheme out of South Australia.

Part of her role in the pilot project was to tighten its focus to concentrate on women in business, rural women and corporate professionals.

Ms Kilminster said the unit ran monthly information seminars and sponsored events such as the Businesswoman of the Year Awards.

The unit has only been running in WA for the past two months.

While Ms Kilminster believes banks treat men and women equally, an Australian Banking Association survey found 48 per cent of women in business said they were discriminated against.

“Women felt banks did not give them respect and recognition,” Ms Kilminster said.

“We’re trying to rectify that by training staff to make sure that bias does not occur.”

Indeed, banks have been forced to become female friendly. The days of a male dominated workforce are gone with women influencing 70 per cent of financial decisions in business partnerships.

Women in business also have a lower failure rate than men.

Recent Small Business Development Corporation figures indicate women run 37 per cent of all small businesses in WA.

Women are going into business at twice the rate of men.

Banks are beginning to see women as better credit risks, with 94 per cent of women compared to 86 per cent of men receiving loan approvals.

Ms Kilminster said her gender had never been a problem throughout her 13 year banking career.

“I always had a ‘can do’ attitude. If a block came up I would find another way to get around it,” she said.

Ms Kilminster said a lot of women were not sure what they wanted from their bank.

“However, women do want a relationship with their bank. It’s my job to make sure that relationship happens.

“It’s part of my job to make sure they get to the right person straight away – and if they don’t have a manager working on their case they can come and see me.”

Ms Kilminster started her banking career in the rural WA town of Bruce Rock.

“As a young woman from a farming community my options were limited,” she said.

“I could either marry a farmer, get a job or go to university.

“I was sick of school so I took a job in the bank and deferred my studies for a year.

“When the year was up the bank said it would give me a promotion and a pay rise if I stayed – so I did.

“I think being in a country town gave me exposure to the diversity in banking.

“You have to cover a lot of areas. It’s a different approach to the city where people tend to specialise more.

“I’ve worked in retail, business banking, rural banking and sales and service.”

Ms Kilminster said she was passionate about promoting the abilities of rural women.

“I think networking is a valuable tool for all businesswomen, be they from the city or country,” she said.

“They say 82 per cent of all business is attributable to networking.”