For the first time since 2008, credit unions added a significantnumber of new employees to their payrolls.

According to information released Monday by CUNA, the number offull-time equivalent employees in the credit union industryincreased to 249,399 in 2012, representing a 2.9% increase over2011.

CUNA sourced NCUA financial performance reports, as well asother sources that reported employees at privately insured creditunions, to reach its conclusions.

The nearly 3% gain marks a return to historic norms, said CUNAChief Economist Bill Hampel. Full-time equivalent employees, whichcombine both full and part time employees, increased by 3.3% in2006, 3.5% in 2007 and 2.1% in 2008. However, full time equivalentcounts decreased by -1.1% in 2009, fell by 0.4% in 2010 andrecovered only slightly in 2011, with a 0.7% increase.

The nearly 250,000 full time equivalents is higher than the peakfigure of 244,245 reported in 2008, as the recession was beginningto take its toll on credit unions. However, that comprehensive gainhas come from more full-time employees, with 233,596 reported in2012, up from a high of 227,077 reported in 2008. Comparatively,there were just 31,605 part time employees in 2012, still below apeak of 34,809 in 2007.

Hampel said the new employees are further evidence credit unionsare putting more space between them and the recession. Postponinghiring was one strategy credit unions utilized during therecession to protect net worth and their bottom lines, he said.

The CUNA economist added that despite the payroll increases,credit union efficiency ratios did not increase.

“That's a good sign, because it means the expense reductionsover the last several years have come from efficiencies, not fromjust postponing hiring,” he said.

The employee gains are also a sign credit union leaders are moreoptimistic about the future, Hampel said.