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