MADISON, Wis.—Credit unions appear to be in a good position when the current CEO retires – 63% of credit unions with
$100 million or more in assets have a succession plan in place that specifies how the CEO will be replaced, according to CUNA’s recently released 2009-2010 CEO Total Compensation Survey.

Among credit unions with $100 million in assets or more, 19 percent of credit union CEOs plan to retire in the next five years, down from 29 percent in 2008, says the new CUNA report. CEOs across the nation are delaying retirement, either because they experienced a loss in retirement savings or they are invested in seeing their organization through these trying times.

"Although the number of CEOs planning to retire in the near future has decreased, it is crucial that credit unions have a succession plan in place so that they are prepared for the CEO’s departure," said Beth Soltis, senior research analyst for CUNA. "Credit unions’ performance will suffer if they do not have the right talent in place. Considering today’s shortage of qualified leaders, leadership development and succession planning should be a top priority for every organization."

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The survey provides nationwide CEO compensation data for credit unions $100 million plus in assets. Results are conveniently categorized by asset size, region, and many other points of comparison to help credit unions attract or retain top CEO talent. The report—available in print or PDF format—also provides the monetary value of the total compensation package to help measure the bottom-line value of CEO compensation packages compared to other credit unions.

Purchasers of the survey report may also receive a discount on the CEO Total Compensation: Self-Selected Peer Analysis.
This customized analysis reveals CEO salaries, health plans, contract terms, bonuses, retirement plans, and more for 10 or more specific credit unions that meet a credit union’s own peer criteria. Each report is presentation ready.

CUNA's 2009-2010 CEO Total Compensation Survey sells to credit unions for $799 for the print version or $750 for the PDF. For more information or to order online, visit buy.cuna.org and enter stock number 28814 (print) or 28814P (PDF) in the product finder search box. To order by phone, call (800) 356-8010, press 3, and use the stock number as a reference.