Pay Climbs Faster For CUCEOs

MADISON, Wis. - (07/28/06) – Salaries for credit union CEOscontinue to rise faster than in most of the rest of theeconomy–about 8.5% last year, according to the 2006 CUESExecutive Compensation Survey. CEOs at the largest credit unions,those with assets of $1 billion or more, got even better raises, anaverage 9.6% increase. Almost 80% of credit union CEOs reportedreceiving a bonus or some kind of incentive payments. Still,significant differences continue to exist between total cashcompensation paid to bank executives and credit union executives,according to CUES. While base salaries are comparable, the bigdifference lies in bonus and/or incentive pay, CUES said. It notedthat it found a greater emphasis on ‘at risk’compensation, like bonus and incentives, among larger creditunions; for the largest organizations, an average of 22.6% of payis 'at risk,' compared to only 7.9% for smaller creditunions.