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MADISON, Wis. — A new CUNA report finds that variable-pay programs are gaining momentum at credit unions.

The programs, which tie monetary rewards to performance measures and productivity, offer credit union employers a way to increase compensation without increasing base pay.

“The current economy and lack of wage growth are causing employees to experience higher financial stress than in the past,” said Beth Soltis, senior research analyst for CUNA’s Center for Research and Advice. “In addition to incentive pay, credit unions may also want to consider adopting some non-monetary methods to compensate and inspire employees, like sabbatical days, development opportunities and flexible working arrangements.”

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