Don’t let altruism become a setback to equitable executive benefits
Many credit union executives are altruistic and selfless, which can stop them from asking for the compensation they need and want.
Many of the executives who lead today’s credit unions have been in the industry for decades. As such, they are full-time, passionate advocates of the people-over-profits philosophy. This is a great thing for the membership, staff and community. It can, however, have some drawbacks for the executive’s own financial well-being.
Two significant setbacks of an under-compensated c-suite
The fact of the matter is that traits like altruism and selflessness can stop an executive from asking for the compensation they really need or want. This can set up a credit union for the potential of two undesirable outcomes.
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