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.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.