FOR IMMEDIATE RELEASE
Contact: Katye Long
CUNA Communications, 608-231-4038
According to the 2007-2008 Complete Credit Union Staff Salary Survey, published by CUNA?s Center for Research and Advice, credit unions reported a 4.05 percent base pay increase for management employees in 2006. Base increases for nonmanagement staff, however, remained below 4 percent.
?The good news is that credit unions? pay increases for management staff were just above the national average. The bad news is most experts agree that a sizeable number of employees, especially executives, are on the lookout for opportunities to switch jobs, if not actively searching,? said Beth Soltis, senior research analyst for CUNA?s Center for Research and Advice. ?To retain top talent and increase job satisfaction, credit unions should keep in mind three important factors: pay, development opportunities, and work/life balance.?
The term work/life balance often refers to flexible scheduling, compressed workweeks, and job sharing; moreover, it can also be applied to a work environment that recognizes and supports employees? personal lives.
The survey provides compensation data for 89 full-time and eight part-time positions at credit unions with $1 million or more in assets, including: base salaries, incentives, bonuses, total cash compensation, and salary ranges. The report ? available in print or Adobe PDF format ? also contains job descriptions, benchmarks for salary and benefit expenses, succession plans, and turnover rates.
Purchasers of the static survey report can also buy the Geographic Customized Salary Survey and the Online Peer Comparison. The customized geographic report provides average and median base salaries, in addition to percentile figures, for selected cities or geographic areas. The online peer comparison provides unlimited access to the 2007 salary survey database, which allows users to create customized peer groups using a variety of criteria, such as: credit union name, asset size, number of members, field of membership, number of full-time employees, number of services offered, total loans outstanding, and geographic region. Customized report parameters include percentiles and date-specific trending.
CUNA?s 2007-2008 Complete Credit Union Staff Salary Survey sells to credit unions for $269 for the print version or $239 for the PDF. For more information and to order online, visit buy.cuna.org, and enter stock number 27766 (print) or 27766P (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.
With its network of affiliated state credit union leagues, Credit Union National Association (CUNA) serves more than 90 percent of America's 8,800 credit unions, which are owned by more than 88 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. For more information, visit www.cuna.org.
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