by. Keith Leggett
This may come as a surprise to most people; but CEOs at credit unions with at least $250 million in assets earn more than their counterparts at comparably sized banks.
A recent survey released by the Credit Union Executive Society found that:
- the median base salary for a CEO at credit union with between $250 million to $499 million in assets is $236,125 compared to $221,053 for a bank CEO;
- the median base salary for a CEO at a credit union with $500 million to $999 million in assets is $325,000 versus $275,206 for a bank CEO; and
- for a CEO at a credit union with $1 billion or more in assets, the median base salary is $449,948. For a bank CEO, the median base salary is $383,750.
The same pattern holds for total compensation.
This may suggest that larger credit unions are diverting a portion of their tax exemption towards compensating their CEOs.
