Search
 

U.S. Central Cuts 25 Employees and 25% Expenses

U.S. Central is forecasting $47.9 million in noninterest expense for 2009, compared to the $64.2 million it spent in 2008, which marks a 25% reduction.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

U.S. Central is forecasting $47.9 million in noninterest expense for 2009, compared to the $64.2 million it spent in 2008, which marks a 25% reduction.

According to NCUA spokesman John McKechnie, the conservator-led management team has eliminated many expense items related to staff compensation and perks, like incentive pay, merit salary increases, and tuition reimbursement. Twenty-five staff positions have been eliminated this year, although McKechnie did say some of them were vacant positions that will not be filled.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.