Survey Reveals Salaries At Smaller Credit Unions
CUNA has released new data on the salaries being paid management by small credit unions. But what the new data can't do anything about is the dilemma over finding qualified people willing to work for the salaries being offered.
CUNA's just-released Small Credit Union Salary Survey found that the average salary for CEOs of credit unions with assets between $7.5 million and $10 million is $46,542. The median is $47,000.
For slightly larger credit unions, with assets of $10 million to $15 million, the average salary nationwide is $51,818, with a median salary of $50,000, the survey found. "However, local economic factors, the experience of the applicant, and other factors may vary the averages within a particular region," the trade group noted.
Training and salary issues will become even more important-for CUs and all companies-with the impending labor shortage, according to Vicki Joyal, vice president of CUNA Research Services. By 2010, the U.S. will have more jobs than workers to fill them, according to CUNA's 2004-2005 CU Environmental Scan Report.