For a decade–going back to when the Sarbanes Oxley Act of 2002 mandated greater transparency in publicly held companies–forces have been gathering to prod credit unions into more openness, starting with demands to open the salary account books. And other forces, often the senior managers themselves, have resisted those demands.
Federally chartered credit unions are under no obligation to publicly release data around executive compensation. State-chartered credit unions, by contrast, are obligated to annually file IRS Form 990, which asks for salary data. Much of that information is available for viewing, at no charge, at Guidestar.org..Read More..Forces at Work to Lift Veil of Secrecy Around CEO Pay:
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