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.


  1. 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'!!

  2. 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

  3. Thanks friends, for providing such enlightening data.Paula Hurd



The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.