Pace Of Raises Slows
The rate at which CU executives are seeing pay increases is declining, although it continues to remain slightly ahead of other employers.
According to new data assembled by CUNA's Center for Research and Advice for its 2004 Complete Credit Union Staff Salary Survey, during 2003 full-time management employees at credit unions averaged a 4.12% pay increase. That's down from an average 4.31% in 2002 and 4.83% in 2001. For nonmanagement, the figures for increases were 3.82%, 4.04% and 4.36% respectively.
CUNA said it found that for 2004 credit unions have budgeted an average 3.98% pay increase for full-time management employees. For 2005, an increase of 3.65% is being projected.