CU Times tries to track major job cuts, but sometimes the changes are mostly just sound and fury.

Credit unions employed 352,727pepole full-time and 18,238 people part-time as of Dec. 31, or the equivalent of 361,846 full-time employees, 2% more FTEs than a year earlier.

Average pay per FTE was $108,102, up 5% from a year earlier. Total wages and benefits in the fourth quarter were $10.4 billion for the three months ending Dec. 31, or an annualized 1.72% of average assets, up from 1.60% a year earlier.

Measuring the changes quarter-to-quarter turns up the new changes, but also tends to pick up seasonality and other factors. Last year was a good example, as the change from September to December was only 0.6%, but it had followed a decline of 6.3% from March to June and an increase of 7.8% from June to September.

Net job losses over the fourth quarter were generally low with only four credit unions reporting declines of 30 or more FTEs from September to December. CU Times asked them why.

The most came from VyStar Credit Union of Jacksonville, Fla. ($13.7 billion in assets, one million members). It had 2,245 FTEs Dec. 31, 53 fewer than three months earlier (-2%), and down 66 (-3%) from a year earlier.

Jill Corbin, VyStar's vice president for communications and public relations, said the credit union's headcounts "naturally fluctuate over the course of the year as we continue aligning resources with member needs, growth opportunities and ongoing operational efficiency efforts."
"The modest change reflected at year-end is consistent with that normal course of business and was primarily driven by natural attrition and a decision not to backfill certain roles, rather than any broad workforce action," she said.

NCUA data showed VyStar earned $15.2 million (ROA 0.44%) in the fourth quarter and $56.3 million (0.41%) for the year.

"VyStar continued to see strong momentum in 2025, with growth in membership, loans and deposits," Corbin said. "These results reflect purposeful financial management and the hard work across our organization to improve operational efficiency while continuing to invest in the products, services and technologies that strengthen the member experience and the communities we serve.

"We remain well-capitalized and focused on sustainable growth, operational discipline and delivering long-term value for our members."

The other three with more than 30 job cuts were:

  • Spokane Teachers Credit Union of Liberty Lake, Wash. ($6.3 billion in assets, 307622 members) had 976 FTEs Dec. 31, down -40 (-4%) from September, and up 43 (5%) from a year earlier.
  • Kirtland Federal Credit Union of Albuquerque, N.M. ($1.1 billion in assets, 50,767 members) had 165 FTEs Dec. 31, down 31 (-16%) from September, and up 3 (2%) from a year earlier.
  • Corporate America Family Credit Union (CAFCU) of Elgin, Ill. ($829.8 million in assets, 61,893 members) had 124 FTEs Dec. 31, down 31 (-20%) from September, and down 52 (-30%) from a year earlier.

The fourth-quarter job cuts followed 26 FTEs cut (-15%) during the first quarter, when the credit union recorded a $1.8 million loss (-0.89% ROA), and 34 (-16%) in 2024's fourth quarter, when it lost $1.1 million.

For the full 12 months of 2025, CAFCU earned $297,069 (0.14% ROA). CAFCU is planning to complete an acquisition March 26 of the $114 million North Bay Credit Union of Santa Rosa, Calif.

CAFCU sent CU Times a statement saying that it has been "executing a strategic transformation" over the past year that includes consolidating certain branches, integrating with the merger and transitioning to its new brand, Alero Financial.

"The staffing changes reflected in fourth-quarter reporting are largely connected to those efforts," it said.

The job cuts reflected "adjustments tied to branch consolidation, operational efficiencies, and preparing the organization for the combined structure that will support their expanded footprint into California."

It said its 2025 income was the result of "strategic investments and work(ing) through industry-wide challenges. The actions CAFCU has taken are designed to position the organization for long-term stability, stronger performance and expanded services for members."

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