Compensation Increased for CU Execs Last Year

MADISON, Wis.—The COVID-19 pandemic stalled much of the economy, but it didn’t hurt the take-home pay and other benefits paid to credit union executives.
According to CUES’ new Executive Compensation Survey, base salary, base salary plus bonus, and total compensation packages increased last year across credit unions.

CUES said other key findings from this year’s report include:

• Median total compensation increases ranged from 3.2% for senior CUSO Executives to 6.9% for chief executive officers
  
  
• Average total compensation increases ranged from 3.4% for e-commerce executives and chief financial officers to 6.8% for chief executive officers
  
  
• More than 20% of CEOs have the Certified Chief Executive designation, which is earned by completing CUES’ CEO Institute program
  
  
• The top four factors which determined CEO bonuses were board evaluation, earnings, loan growth, and membership growth

All of the data is available in CUES Executive Compensation Survey and/or CUES Employee Salary Survey, which were open for participation from Jan. 1 to April 16.