News
League Offers Free Updated Staff Salary Report Download — 10/3/19
Report offers data and job descriptions for CUs under $50 million in assets
For the sixth consecutive year, credit unions under $50 million in assets will again have free and full access via download to new salary survey data that will help them plan for the future. The updated report comes through a special group licensing arrangement with CUNA. The report has a retail price of $250.00 if purchased directly from CUNA.
In February 2019, CUNA sent questionnaires to the Human Resource (HR) professional or CEO/manager of 5,388 credit unions with $1 million or more in assets. This number includes 2,935 credit unions with $1 million to $50 million in assets.
“Since many of our credit unions are under $50 million in assets, offering the free download again is a good use of League resources, and a good source of information for Managers and CEOs determining salaries and employee benchmarks,” stated League President Ken Watts. Watts noted that 10 West Virginia League member credit unions voluntarily participated in the national survey.
The vast majority—76% to 83%—of credit unions with assets of $1 million to $50 million plan to provide salary/wage increases to at least some of their employees by the end of 2019 the survey revealed.
The 2019-2020 CUNA Staff Salary Report is designed exclusively for credit unions with $50 million or less in assets. Credit unions may use data, along with the report's job descriptions to develop a successful salary program. The report also includes a benchmarking tool contains salary data from credit unions nationwide for full-time and part-time positions.
This 478 page report provides statistics on base salaries, incentives, bonuses, total cash compensation, and salary ranges for the most common positions in small credit unions. Credit union managers will be able to make meaningful comparisons, because the report displays results by asset size, region, number of full-time employees, number of services offered, number of members, and total amount of loans outstanding at the credit union.
The e-report is available for download from the League’s web site at wvcul.org and clicking on the Salary Survey banner ad, or looking under the Publications/Member Publications tab.
Registration on the League’s web site is required before downloading.
# # #