MADISON, Wis. – Credit union CEO total compensation, including salary and bonuses, increased an average of 5.93% over the past 12 months, the highest since 2008, according to the 2012 CUES Executive Compensation Survey.
The average covers the period May 1, 2011 through April 30, 2012, and compares to an average hike of 5.01% in 2011 and of 2.54% in 201, which was the lowest of the past decade.
The average bas bonus compensation for CEOs for credit unions over $1 billion in assets rose last year to $523,694, with those under $30 million averaging $86,582. The average compensation for all credit union CEOs was $260,807.
A vast majority of credit union CEO, 84%, have worked in credit unions for more than 15 years.
The trends are based on a survey of 578 credit unions conducted by enetrix, a division of Gallup.