MADISON, Wis. -- The search for a credit union CEO replacement begins at home, so to speak, for small credit unions.
According to the 2008-2009 Small Credit Union Staff Salary Survey, published by CUNA's Center for Research and Advice, 48% of credit unions with $1 million to $35 million in assets give internal applicants first preference. An additional 40% of small credit unions post the job externally and internally at the same time, while only 9% give external applicants first preference.
Credit unions overall are about evenly split between giving internal applicants first preference and posting the job externally and internally at the same time.
"At a time when more and more companies are looking externally to replace their CEO, small credit unions may have an edge in recruiting candidates who are looking to eventually advance into leadership roles," said Beth Soltis, senior research analyst for CUNA's Center for Research and Advice.
In addition to base salaries and ranges, the report details the average incentives, bonuses, total cash compensation and job descriptions for the 24 full-time positions most commonly found in small credit unions along with hourly wage and variable pay data for eight part-time positions.
CUNA's 2008-2009 Small Credit Union Staff Salary Survey sells to credit unions for $89. For more information, visit advice.cuna.org and type stock number 28107P in the search box.
--mdigiovanni@cutimes.com
