The Free Methodist Church has a long history of ordaining women; in fact women were pastoring Free Methodist churches before they had the right to vote in the United States.  The head pastor of my own congregation from 1915-1916 was one Rev. Laura Lamb.

In 1891 B.T. Roberts, one of the denomination's founders, wrote an exhaustive analysis in which he discussed the verse you cite along with many others which are relevant to the question of whether women may, or may not, be ordained.  His conclusion is that taking the scripture as a whole -- and not a verse or two out of context -- there is no prohibition whatsoever that forbids women to be ordained.  The closing paragraphs read,

> IN the preceding pages the following propositions have been clearly
> proved.
>
> 1. Man and woman were created equal, each possessing the same rights and privileges as the other.
> 2. At the fall, woman, because she was first in the transgression, was, as a punishment, made subject to her husband.
> 3. Christ re-enacted the primitive law and restored the original relation of equality of the sexes.
> 4. The objections to the equality of man and woman in the Christian Church, based upon the Bible, rest upon a wrong translation of some
> passages and a misinterpretation of others. The objections drawn from
> woman’s nature are fully overthrown by undisputed facts.
> 5. In the New Testament church, woman, as well as man, filled the office of Apostle, Prophet, Deacon or preacher, and Pastor. There is
> not the slightest evidence that the functions of any of these offices,
> when filled by a woman, were different from what they were when filled
> by a man.
> 6. Woman took a part in governing the Apostolic church. We come, then, to this final CONCLUSION: THE GOSPEL OF JESUS CHRIST, IN THE
> PROVISIONS WHICH IT MAKES, AND IN THE AGENCIES WHICH IT EMPLOYS, FOR
> THE SALVATION OF MANKIND, KNOWS NO DISTINCTION OF RACE, CONDITION, OR
> SEX, THEREFORE NO PERSON EVIDENTLY CALLED OF GOD TO THE GOSPEL
> MINISTRY, AND DULY QUALIFIED FOR IT, SHOULD BE REFUSED ORDINATION ON
> ACCOUNT OF RACE, CONDITION, OR SEX.

If you Google the title "Ordaining Women" you'll find both a free PDF of the book, as well as a reasonably-priced paperback.

That said, the FMC remains firmly biblical in its understanding of sexual sin.  A contemporary discussion on the issues surrounding homosexuality reads in part,

> We will give clear biblical teaching on human sexuality and God’s
> intended role for sex in the human experience. In this area,
> homosexual behavior cannot be seen as part of God’s intended role for
> human sexual expression, regardless of a person’s attraction. Pastors
> must be thoroughly informed and equipped to teach on sexuality and
> should seek guidance for materials and instruction from their
> superintendent and denominational leaders that assist them in teaching
> Biblical wisdom on these matters.