MADISON, Wis. - A recent CUNA survey finds that credit unionsshould expect an uptick in employee turnover rates. According tothe 2004 Complete Credit Union Staff Salary Survey, while averageannual pay increases for credit union employees continue todecline, if the economy picks up steam in 2005 labor costs andturnover will increase in the near future. Experts suggest thatproviding a competitive compensation and benefits package is oneway credit unions can help attract and retain highly skilledstaffers. In 2003 13% of credit unions with $1 million or more inassets increased or implemented bonus payments. Some 12% of creditunions of this size increased or added potential incentives in2003. In addition, overall about 65% of U.S. credit unions with $1million or more in assets and at least one full-time employeeoffered variable pay to some of their full-time managementpersonnel in 2003. Bonuses were slightly more common thanincentives for both credit union management and non-managementemployees in 2003. The survey also finds that only four in 10credit unions have established formal salary ranges, which can beused to prove to employees that the credit union is trying to befair -leading to increased employee satisfaction. CUNA analystsadvise credit unions to keep an eye on current economic conditions,and consider adjusting salary budgets to retain theirhigh-performing employees. The survey, produced by CUNA's Centerfor Research & Advice, contains in-depth salary information forthe most common credit union positions along with newly revised jobdescriptions, bank comparisons, and breakdowns by various peercomparison categories. This year's report includes additional assetcategories and more credit union positions ranging from businessservices vice president/director to dealer direct manager. Inaddition to base salaries and ranges, the report includesincentives, bonuses, and total cash compensation for 37 full-timemanagement positions, 52 full-time non-management positions, andeight part-time positions for credit unions with $1 million or morein assets. Data is broken down by asset size, region, number offull-time employees, number of services offered, number of members,and by the total amount of loans outstanding at the credit union.For more information about CUNA's 2004 Complete Credit Union StaffSalary Survey visit advice.cuna.org and click on "Reports."