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Banks are struggling to hire and retain workers in a tight labor market. To stay competitive, they are making concessions on wages and remote work that likely would have been unnecessary before the pandemic.
August 1 -
Michigan Legacy Credit Union is increasing its minimum hourly wage by 23% to $16, adding annual costs that equal nearly half of its first-quarter profit. The expense is worth it to compete with banks that have boosted pay, its CEO says.
June 18 -
A report from CUES shows total compensation growing for members of the C-Suite, but institutions on the smaller end of the asset spectrum — representing two-thirds of the total industry — face stark differences in median CEO pay.
September 2 -
Readers react to the Fed's lengthy plan for a real-time payments system and Fifth Third's minimum wage increase, jab at Sen. Warren's absence on the Senate Banking Committee and more.
August 8 -
Institutions haven't modernized benefits packages to include deferred compensation, and now the threat of a recession is affecting CEO salaries.
August 8 -
At a recent House hearing with large-bank CEOs, lawmakers’ focus on the compensation gap between the C-suite and lower-level employees echoed a broader discussion about pay inequity.
April 21 -
The recently released Staff Salary Report from the Credit Union National Association outlines how CUs are planning
August 20 -
The Pittsburgh bank opted to give more than half of its employees $2,000 pay hikes instead of the bonuses handed out by many rivals.
May 7 -
In an effort to be able to serve members without having to hand them off from staffer to staffer, more credit unions are turning to the "universal employee."
September 5