More Than Half of All $100M+ Credit Unions Planning to Add Staff, Raise Salaries
Approximately one-third of all credit unions – including more than half of credit unions with assets of $100-million or more – plan to add full-time employees to their payrolls this year, and credit union salaries are up by nearly 3 percent this year.
That’s according to the recently released annual Staff Salary Report from the Credit Union National Association, which encompasses compensation data for 90 positions, along with 10 part-time positions, and allows users to calculate ideal compensation packages for most employees. Data from the report is broken down into categories including base salaries, bonuses, total cash compensation and incentives.
“Offering a competitive salary is more important now than it’s ever been,” James Carrick, CUNA’s VP of learning events, said in a statement. “If you want a talented pool of employees who are going to not only enhance your credit union, but stay engaged in their role, you need to be providing them with the right compensation. The content of this report is going to show you, statistically, what that competitive number is going to be.”
As a benefit of CCUA Membership, all member credit unions have complimentary access to the 2018-2019 Staff Salary Report.
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