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CUNA Research Reports

CU Snapshot

 August '18July '18
# of CUs5,6865,697
Members
(millions)
117.6116.8
Total Assets
($ billions)
$1,466.2$1,455.3
Total Savings
($ billions)
$1,236.7$1,222.3
Net Cap.
Assets
10.7%10.7%
Loans to Savings84.5%85.1%
Loan Delinq.0.7%0.6%

         Credit Union Indicators

QUICK TAKE: CU salaries and benefits

Salaries are increasing at most CUs.

The prevalence of wage freezes in credit unions has diminished considerably since 2010, when 45% of all credit unions with at least $1 million in assets froze salaries for at least some of their employees. Only 8% took this action in 2016, according to CUNA's 2016-2017 Staff Salary Report.

The sizeable decline shows how the U.S. economy and credit unions' financial performance, as a whole, have picked up since the tail end of The Great Recession.

All told, 85% of credit unions anticipated providing salary increases to at least some of their employees during 2016, while 10% will increase employee contributions for health care and related items to offset rising benefit costs.

JON HALLER is CUNA's director of corporate and market research.