A study from the Louisville, Ky.-based digital signage firm Codigo showed that credit unions are staffing up their marketing departments, and those employees are sticking around longer than employees in the rest of the labor market are.
According to the study, 36% of credit unions said they increased their marketing departments' headcounts this year, compared to 26% of banks. Credit union marketing departments are still small, however. Three years ago, they had a weighted average of 3.1 employees; that's risen to 3.9 today and is expected to grow to 4.42, the study said. Responding credit unions with departments of four or more employees said they were especially poised for headcount growth, Codigo noted.
Turnover is relatively low in credit union marketing departments as well. The average American stays on the job for 4.6 years, according to the Bureau of Labor Statistics, but the average weighted tenure in a credit union marketing department is 5.58 years, according to Codigo.
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