how are credit unions staying competitive?

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HOW ARE CREDIT UNIONS STAYING COMPETITIVE IN TODAY’S CHANGING MARKETPLACE? © Credit Union National Association 2015

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Page 1: How are credit unions staying competitive?

How are credit unions

staying competitive

in today’s cHanging marketplace?

© Credit Union National Association 2015

Page 2: How are credit unions staying competitive?

CUNA’s market research team

received information from over

1,300credit unions

gathered data on

90full timepositions

10part time positions

&

Page 3: How are credit unions staying competitive?

Did you know 41% of credit unions have established formal salary ranges in 2015? This number is up from 34% in 2014.

How are credit unions staying competitive in today’s

changing marketplace?

creating formal salary ranges

Page 4: How are credit unions staying competitive?

How are credit unions staying competitive in today’s changing marketplace?

offering variable pay optionsVariable pay [vair-ee-uh-buh l] [pey] – direct compensation that does not become a permanent part of base pay/salary and which may vary in amount from period to period. Variable pay typically comes in the form of bonuses and/or incentives.

Page 5: How are credit unions staying competitive?

Who is earning variable pay?

at credit unions with $100m or more in assets

75%of ceos

75-80%of senior

eXecUtives

credit unions with $100m or more in assets offer some form of variable pay.9OUT OF10

&

Page 6: How are credit unions staying competitive?

What criteria is being used to determine variable pay?

ROA, ROE or ROI

Loan growth

Net income

Membership growth

Board evaluation

Personal performance

Delinquency reduction

Savings growth

CAMEL rating*

Gross income

Number of new services added

73%

71%

58%

53%

41%

31%

31%

27%

21%

14%

8%

*CAMEL - capital adequecy, asset quality, management, earnings, and asset/liability management

Page 7: How are credit unions staying competitive?

How are credit unions staying competitive in today’s changing marketplace?

offering benefits

Most commonly offered benefits include:// Life insurance// Health/medical insurance// Disability insurance

Page 8: How are credit unions staying competitive?

How are credit unions staying competitive in today’s changing marketplace?

setting competitive salaries

In 2015, credit unions with assets of $100M or more budgeted, on average, a 4.3% increase in salary for their CEO.$

Page 9: How are credit unions staying competitive?

CUNA’s research reports have information that will help your credit union to:

// set annual budgets// offer competitive staff salaries// attract and retain top talent// provide complete benefit packages// compare your credit union to your peers

Page 10: How are credit unions staying competitive?

learn more and

get accessto credit union-specific data at

cuna.org/compensation