Bankers get it wrong on CU compensation
CU CEOs earn 10% less than CEOs at similarly sized institutions.
Bankers increasingly are attacking credit unions, and one of their latest strategies is to publish what they claim is “excessive” CEO compensation at individual institutions.
A 2017 op-ed criticized credit unions for paying employees “more than $100,000 a year… while working at a ‘non-profit.’”
Another highlighted “jaw-dropping” CEO salaries as a reason to eliminate the “unfair and indefensible corporate welfare big credit unions receive as a result of their non-profit status.”
As you might expect, these criticisms lack important context.
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