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CUNA Research Reports

CU Snapshot

 October '18September '18
# of CUs5,6475,653
Total Assets
($ billions)
Total Savings
($ billions)
Net Cap.
Loans to Savings85.8%85.5%
Loan Delinq.0.6%0.7%

         Credit Union Indicators

CU salaries and wages increase

The vast majority of CUs plan to pay employees more.

The vast majority (85%) of credit unions with assets of $1 million or more plan to provide salary/wage increases to at least some of their employees by year-end 2016, according to CUNA's 2016-2017 Staff Salary Report.

By comparison, fewer than 10% of credit unions plan to implement any sort of salary/wage freeze, a figure that was closer to 45% during the peak of the Great Recession.

Looking down the road, about 80% of credit unions anticipate providing salary increases in 2017 for management employees (including the CEO), while closer to 85% plan increases for their nonmanagement employees.

For credit unions with assets of $20 million or more, the percentages of those anticipating providing salary increases—to management and nonmanagement employees—fall between 85% and 95%.

Overall, budgeted 2016 and anticipated 2017 salary bumps range from about 2.7% to 3%, depending on the year and the employee category. With only a few exceptions, anticipated 2017 salary increases for both management personnel and nonmanagement staff tend to increase as credit union asset size increases.

These averages include credit unions that don't intend to provide increases.