Press
Credit Union Executive Compensation Increases for Second Straight Year
Christopher Stevenson
VP/Marketing & Professional Development
800.252.2664 or 608.271.2664, ext. 315
christopher@cues.org
www.cues.org
MADISON, Wis.—Salary and bonus raises for credit union CEOs increased for the second consecutive year, according to data from the 2012 CUES Executive Compensation Survey, published by the Credit Union Executives Society and administered by enetrix, A Division of Gallup, Inc., Middleton, Wis.
Chief executive officers received an average 5.93% increase in base salary plus bonus/incentive pay over the past year. That average raise is the highest since 2008, up from a 5.01% increase in 2011 and 2.54% in 2010, which was the low-water mark for at least a decade.
Average base plus bonus compensation for CEOs ranged from $86,582 at credit unions with less than $30 million in assets to $523,694 at credit unions with $1 billion in assets or more. The average total compensation for all CEOs whose credit unions reported survey data was $260,807.
A large majority of CEOs (84%) have worked in the credit union industry for more than 15 years, but this year’s survey data does indicate some turnover at the top. More than 45% of chief executives have been in their current jobs for less than 10 years, compared to 22.2% who have led their organizations for more than 20 years.
Among other members of credit union executive teams, average total compensation increases for 2011-12 ranged from just over 3% to 13.51%, with business development executives and executives leading credit union service organizations (CUSOs) receiving the largest raises.
These trends are based on responses from 578 credit unions participating in the survey from May 1, 2011, through April 30, 2012. Survey participants submit data year-round online on base salary, bonus/incentive pay, and other compensation for their CEOs and 14 other executive positions.
For more information on CUES Executive Compensation Survey and CUES Employee Salary Survey, or to purchase or participate, visit cues.org/survey, contact CUES Survey Support at 866.508.0744, or e-mail surveysupport@cues.org.
The Credit Union Executives Society is a Madison, Wisconsin-based, independent, not-for-profit, international membership association for credit union executives. CUES’ mission is to educate and develop credit union CEOs, directors and future leaders.