Monday, August 12, 2013

Large CU CEOs Earn More Than Bank CEOs

This may come as a surprise to most people; but CEOs at credit unions with at least $250 million in assets earn more than their counterparts at comparably sized banks.

A recent survey released by the Credit Union Executive Society found that:
  • the median base salary for a CEO at credit union with between $250 million to $499 million in assets is $236,125 compared to $221,053 for a bank CEO;
  • the median base salary for a CEO at a credit union with $500 million to $999 million in assets is $325,000 versus $275,206 for a bank CEO; and
  • for a CEO at a credit union with $1 billion or more in assets, the median base salary is $449,948. For a bank CEO, the median base salary is $383,750.

The same pattern holds for total compensation.

This may suggest that larger credit unions are diverting a portion of their tax exemption towards compensating their CEOs.
 
 
 
 

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2 comments:

  1. AnonymousAugust 12, 2013 at 11:21 PM

    Cant wait to see how cuna (cu not accountable) spins this. Gentile probably up late figuring it out
    Heres the real problem.
    The money wasted on cuna (cu not accountable) is more than waste on ceo pay. At least ceos get something done.

    ReplyDelete
  2. AnonymousAugust 22, 2013 at 10:42 AM

    They have to make up for the lack of stock options, stock appreciation and dividend payments some way.

    ReplyDelete