FOR IMMEDIATE RELEASE
Contact: Mark Wolff
MADISON, Wis. -CEOs of credit unions in the East North Central Region (Ohio, Indiana, Illinois, Michigan and Wisconsin) earn a median base salary of $71,843, says a new CUNA report.
There is a strong correlation between compensation, especially base salary, and the size of the credit union. As the size of the credit union increases, so does the complexity of the operations and CEOs are compensated accordingly. Among credit unions with $1 million in assets or more and at least one full-time employee, the median base salary for CEOs stands at just over $30,000 among the smallest credit unions, according to the CUNA 2010-2011 Complete Credit Union Staff Salary Survey East North Central Region Report. This figure increases to almost $400,000 among the largest credit unions.
"Compensation experts project that turnover will increase as the economy moves from recession to recovery," said Beth Soltis, senior research analyst for CUNA. "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 (Ohio, Indiana, Illinois, Michigan and Wisconsin). This compensation data includes: base salaries, incentives, bonuses, total cash compensation, and salary ranges. The report-available in Adobe PDF format-also contains job descriptions.
The CUNA 2010-2011 Complete Credit Union Staff Salary SurveyEast North Central Region Report sells to credit unions for $399. For more information or to order online, visit buy.cuna.org, and enter stock number 29777P in the search box. To order by phone, call (800) 356-8010, press 3, and use the stock number as a reference.
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