How are credit unions
staying competitive
in today’s cHanging marketplace?
© Credit Union National Association 2015
CUNA’s market research team
received information from over
1,300credit unions
gathered data on
90full timepositions
10part time positions
&
Did you know 41% of credit unions have established formal salary ranges in 2015? This number is up from 34% in 2014.
How are credit unions staying competitive in today’s
changing marketplace?
creating formal salary ranges
How are credit unions staying competitive in today’s changing marketplace?
offering variable pay optionsVariable pay [vair-ee-uh-buh l] [pey] – direct compensation that does not become a permanent part of base pay/salary and which may vary in amount from period to period. Variable pay typically comes in the form of bonuses and/or incentives.
Who is earning variable pay?
at credit unions with $100m or more in assets
75%of ceos
75-80%of senior
eXecUtives
credit unions with $100m or more in assets offer some form of variable pay.9OUT OF10
&
What criteria is being used to determine variable pay?
ROA, ROE or ROI
Loan growth
Net income
Membership growth
Board evaluation
Personal performance
Delinquency reduction
Savings growth
CAMEL rating*
Gross income
Number of new services added
73%
71%
58%
53%
41%
31%
31%
27%
21%
14%
8%
*CAMEL - capital adequecy, asset quality, management, earnings, and asset/liability management
How are credit unions staying competitive in today’s changing marketplace?
offering benefits
Most commonly offered benefits include:// Life insurance// Health/medical insurance// Disability insurance
How are credit unions staying competitive in today’s changing marketplace?
setting competitive salaries
In 2015, credit unions with assets of $100M or more budgeted, on average, a 4.3% increase in salary for their CEO.$
CUNA’s research reports have information that will help your credit union to:
// set annual budgets// offer competitive staff salaries// attract and retain top talent// provide complete benefit packages// compare your credit union to your peers
learn more and
get accessto credit union-specific data at
cuna.org/compensation
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