Monday, May 19, 2014

CEO Pay at Large State Chartered CUs Was Almost $1 Million for 2012

The average total compensation for chief executive officers at state chartered credit unions with at least $1 billion in assets for 2012 was almost $1 million.

The information on CEO compensation was pulled from the credit unions' Form 990 informational returns. Federal credit unions are not included in this analysis because they do not file a Form 990 with the Internal Revenue Service and do not disclose information on CEO pay.

Compensation information is provided for 111 CEOs from 106 state chartered credit unions with at least $1 billion in assets as of December 31, 2012. Only Meriwest Credit Union was excluded due to a missing Form 990.

Total compensation includes base salary, bonus and incentives, other reportable income, retirement and deferred compensation, and nontaxable benefits.

Thirty-two CEOs at state chartered credit unions reported total compensation packages in excess of $1 million for 2012. MidFlorida Credit Union's CEO, Kevin Jones, was the highest compensated executive earning slightly more than $5 million.

The mean and median 2012 total compensation packages were $992,204 and $745,675, respectively.

The average 2012 base salary for CEOs of large state chartered credit unions was $501,505. The median base salary was $432,800.

The average 2012 bonus and incentive pay was slightly more than $155 thousand. The median bonus and incentive payment was $86,873.

Other reportable compensation averaged $161,620 for 2012. The median other reportable income was $16,480.

The mean and median 2012 retirement and other deferred compensation were $161 thousand and $39.2 thousand, respectively.

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3 comments:

  1. AnonymousMay 22, 2014 at 12:57 PM

    in the immortal words of the speaker at the Think conference when discussing CU marketing (lack of) success in delivering new business to CUs from banks..."this makes me vomit".
    when i come back, i want to work for the board of some of these credit unions.
    the san diego county cu ceo is worth DOUBLE jim blaine or dave mooney??
    pass me some of that stuff yer smokin'!!

    ReplyDelete
  2. Matt BrownJune 20, 2015 at 1:33 AM

    The writer understand better the mind of people what they want to learn through their writing therefore this article is outstanding. Thanks!!!CEO Mark Hurd

    ReplyDelete
  3. UnknownJune 20, 2015 at 6:11 AM

    Thanks friends, for providing such enlightening data.Paula Hurd

    ReplyDelete

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