Standing Tall: Catherine 'Kay' Fahringer's First Lady Legacy

A former banking executive and longtime leader at FIU known for a life of community service speaks about how she managed to break the glass ceiling and why she chose a life of leadership and philanthropy in South Florida and at FIU.

"Stand tall" was the advice a teenage Catherine H. (Kay) Fahringer was given by a friend of the family in the late 1930s. She was more than a head taller than her peers and had skipped four grade levels by the time she was in high school. But when Kay was offered an athletic scholarship at Temple University in Philadelphia, she was unable to afford college. "They didn't have financial aid back then, and I came from a poor family. My father was sick at the time, so I couldn't take the scholarship."

Instead, Kay went to work at age 16, and stand tall she did. On the trolley to her first job interview, little did Kay know that her future boss was on the trolley with her. He later picked Kay out of a room full of 100 women, asked her to come with him, told her he was impressed by the way she carried herself, and gave her the front desk job.

From there, Kay worked at a variety of jobs, and each one taught her something she could use at the next—customer service, presentation skills, shorthand and more. And Kay wanted to work. She lived at a military base with her first husband and was told by one of the officers that "we don't hire soldier's wives." Kay applied for work with a colonel, impressed him with the business skills and experience she had acquired since high school, and she was hired.

Kay later obtained an entry-level savings and loan position after the company responded to her want ad in the paper, a position that would open a door to the banking industry for her in South Florida in the 1950s, when she moved here, a single mother, with her son.

Starting at Dade Savings and Loan Association in 1958 at the age of 36, Kay worked her way up to executive-level positions at what became CenTrust Savings Bank, from vice president in 1967 to executive vice president and director in 1984. She loved this work. It also gave her the opportunity to teach basic finance classes in the evenings, and the bank encouraged its employees to volunteer in the community.

Kay joined various community organizations, and she was often asked to lead the boards. She served as chair of the board of trustees for the Jackson Memorial Public Health Trust; chair of the board of directors for the South Florida Blood Service; and member of the board of directors for the New World School of Arts, to name only a few board positions. Recognized extensively for her professional track record and community service, in 1974 the Dade Business and Professional Women's Club named Kay Woman of the Year; and in 1984, she received Dade County's Outstanding Citizens Award for her community service work, including her volunteer work with South Florida Blood Service and the United Way.

Two Steps Ahead

Kay had a talent for finance, but she is certain that what helped her break the glass ceiling was self-study and succession planning.

When Kay saw something she wanted to do, she would set out to learn how to do it by reading anything she could on the topic. She also saw to it that there was always another person trained to do the job she was currently doing. Her rationale? If you're irreplaceable, you're likely to be passed over for promotions. So by the time a promotional opportunity came about, Kay was poised to get it. And the person she had trained would get a promotion, too. Kay also learned from experience that where she lacked personal connections, she needed to apply herself, teach herself, learn how to talk to people, and speak up.

First Woman, First Lady

In 1976, Kay was tapped to serve on the FIU Foundation Board, "because it needed a woman." As Kay tells it, she was not just tapped but "christened"—at a gathering of the Foundation Board near the fountain across from Primera Casa, attendees were enjoying refreshments when the fountain suddenly turned on.

Getting drenched must have been an invitation to do what Kay did best—plunge in. After two years as a member of the board, Kay was elected to serve as vice president (from 1978 to 1981) and then president (from 1982 to 1984). At the time, she was the only woman in Florida's state university system to lead a foundation. Far from being the token woman, Kay was described by FIU President Gregory Wolfe in 1982 as "one of the most dynamic and dedicated leaders, I have met in Miami," referring to her service to the South Florida community and her effectiveness with other members of the Board.¹

Known for her effectiveness with boards and her appreciation of athletics, in the 1980s Kay was asked by FIU President Modesto "Mitch" Maidique to serve on the Golden Panthers board of directors. In typical Fahringer fashion, Kay was selected to be vice president in 1991 and took the helm as president of the board a year later (from 1992 to 1994).

The Golden Panther Club was started in 1987 to grow financial and community support for FIU's Athletics Department, and Kay was the first donor to support it by starting an athletics endowment at FIU. In memory of her late husband, Ed, who like her had been an avid golfer, Kay established the Fahringer Golf Scholarship, awarded annually to a male or female golf player who excels in academics and athletics. "It's exciting," said Kay. "It makes you feel like you're a part of something when you support it—the university grows, and so do you."

In 2003 Kay was awarded the First Lady of Athletics Award for her service and support to FIU Athletics. Of all the awards Kay has received over the years, she particularly cherishes those where she was recognized as the first woman to do something. For Kay, these "first" awards seem to speak volumes about the energy, grit, self-determination and hard-earned experience that took her to a particular place, a particular position, or a particular board where she was quite able to do what was being asked of her, and she was being recognized for it.

Kay's Legacy

From the height of her professional career to the present, Kay has supported FIU in so many ways. She recently made a legacy gift to FIU, a planned gift from her estate trust. "I think it's wonderful to leave something for the university in your name," Kay said. "You not only make it possible for others to get the same opportunities you had, but after your time has passed, you're still part of the university."

Create Your Legacy

Join Catherine H. (Kay) Fahringer in investing in the future of FIU by making a planned gift to the University. Contact us to get started.

¹ Pamela Noel, "Her Peers Recognize Her Ability," Miami Herald, June 12, 1982.