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Credit unions looking for growth in 2012 need to do a far better job on succession planning and retirement compensation given the impact of benefits shortfall in the economy, according to a CUNA Mutual Group specialist speaking to Montana credit union leaders.

Jay Petty, CMG’s executive benefit specialist, in remarks before the annual meeting recently of the Montana Credit Union Network in Billings, cautioned credit unions they need to “maintain a compensation package that is equal to or better than the competition” which might include supplemental executive retirement plans.

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