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Regional compensation data available from CUNA
MADISON, Wis. (11/23/10)--CEOs of credit unions in the East North Central Region (Ohio, Indiana, Illinois, Michigan and Wisconsin) earn a median base salary of $71,843, according to a new Credit Union National Association (CUNA) report.
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The report found a strong correlation between compensation, especially base salary, and credit union size. A credit union’s complexity of operations increases with its size, and CEOs are compensated accordingly. Among credit unions with $1 million or more and at least one full-time employee, the median base salary for CEOs is just more than $30,000, according to the CUNA 2010-2011 Complete Credit Union Staff Salary Survey East North Central Report. That figure increases to almost $400,000 among the largest credit unions. “Competition experts project that turnover will increase as the economy moves from recession to recovery,” said Beth Soltis, CUNA senior research analyst. “While turnover is expected among all positions, turnover among CEOs and hard-to-fill positions is expected to be particularly volatile. Analyzing compensation data from the credit union industry and in their geographic region will assist credit unions in providing appropriate and competitive compensation to attract and retain top talent.” The survey provides compensation data for 89 full-time and eight part-time positions at credit unions with $1 million or more in assets in the East North Central Region. The compensation data include: base salaries, incentives, bonuses, total cash compensation and salary ranges. The report, also available in Adobe PDF format, also contains job descriptions.


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