Credit union boards are facing high recruitment costs

by: Michael Muckian

Demographic changes are driving change in credit union leadership, the most significant of which comes in the cost of hiring a president/CEO. These days, the price of top talent often comes with a high price tag, according to executive recruiter Charles Shanley (pictured).

“There are still credit union boards out there that suffer sticker shock when it comes time to replace long-term CEOs who are retiring,” Shanley, executive vice president for John M. Floyd & Associates in Baytown, Texas, said.

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