June 24, 2017 About | Subscribe | Contact | CUNA News [ Log in ]

Article Tools

CUNA Research Reports

CU Snapshot

 Apr '17Mar '17
# of CUs 5,926 5,953
Members
(millions)
111.2110.7
Total Assets
($ billions)
$1,381.2$1,374.7
Total Savings
($ billions)
$1,161.4$1,163.6
Net Cap.
Assets
10.4%10.4%
Loans to Savings79.3%78.2%
Loan Delinq.0.8%0.7%

         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.