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CU System
Survey Small CUs look internally for new CEO
MADISON, Wis. (7/22/08)--When replacing a credit union CEO, small credit unions are more likely than credit unions overall to give internal applicants first preference, according to the latest Credit Union National Association (CUNA) salary survey. About 48% of credit unions with $1 million to $35 million in assets give internal applicants first preference, according to the 2008-2009 Small Credit Union Staff Salary Survey, published by CUNA’s center for research and advice.
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An additional 40% of small credit unions post the job both externally and internally, while only 9% give external applicants first preference, the survey said. Credit unions overall are about evenly split between giving internal applicants first preference and posting the job externally and internally at the same time. “At a time when more and more companies are looking externally to replace their CEO, small credit unions may have an edge in recruiting candidates who are looking to eventually advance into leadership roles,” said Beth Soltis, senior research analyst for CUNA’s center for research and advice. In addition to base salaries and ranges, the report details the average incentives, bonuses, total cash compensation and job descriptions for the 24 full-time positions most commonly found in small credit unions, along with hourly wage and variable pay data for eight part-time positions. The small credit union report has a narrower asset category breakdown than the full salary report. It also displays results by region, number of full-time employees, number of services offered, number of members, number of branch offices, and the total amount of loans outstanding. For more information, use the link.
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