Salaries increased across the industry, according to CUES® 2020 compensation survey results
MADISON, WI (August 21, 2020) — Base salary, base salary plus bonus, and total compensation packages increased last year across the credit union industry, according to the results of the 2020 CUES Executive Compensation Survey. Other key findings from this year’s report include:
- The leading influencer on compensation levels was a credit union’s asset size
- Average total compensation increases ranged from 5.1% for COOs to 7.9% for CEOs
- More than 20% of CEOs have the Certified Chief Executive designation, which is earned by completing CUES’ CEO Institute
- The top four factors driving CEO bonuses were earnings, board evaluation, loan growth, and membership growth
Report data comes from credit unions who participated in CUES Executive Compensation Survey and/or CUES Employee Salary Survey, which was open for participation from January 1 to June 15. The survey participation window was extended this year to allow credit unions to contribute their information amid disruptions caused by COVID-19.
Results of the survey are now available to the industry, offering valuable data for credit unions to use to build compensation models to attract and retain top talent. The CUES Executive Compensation Salary Executive Summary is also available, offering insights into credit union salary and compensation trends across the country. CUES Unlimited+ members have free access to the results of both surveys and the summary.
CUES Executive Compensation Survey features valuable compensation trends, tools and data to help credit unions attract and retain well-qualified professionals; learn more and purchase access to the data at cues.org/ECS. CUES Employee Salary Survey offers pertinent data to attract new hires, and valuable tools to ensure credit unions retain their top employees; learn more and purchase access to the data at cues.org/ESS.
CUES is the leading talent development solutions provider for credit unions in North America. We educate, develop and support credit union CEOs, executives, directors, and emerging leaders through partnerships with premier business schools, live and online events, digital learning, networking, and premium content. With over 47,000 members and growing, we measure success one leader at a time.
Connect with CUES at CUES.org and on LinkedIn, Facebook, X, and Instagram. For daily insights on issues impacting credit unions visit CUmanagement.com.
Currency Marketing is a credit union-focused marketing firm. Our unique programs—It’s a Money Thing and CUES Emerge—focus on helping credit unions raise awareness, build relationships and foster financial empowerment with young adults.
Connect with Currency Marketing at CurrencyMarketing.ca and on LinkedIn, Facebook, and X.