March 27, 2006


  • Great data. Good to compare with a credit union's trends.
  • The article is interesting and useful. Also wanted to add that I have just spent a little time helping a client work through the numbers (using my Peer-to-Peer, of course!). This analysis represents the average "salary & benefits" figure for credit unions nationally and by state. It appears the asset comparator is not utilized (which will affect this figure). Salary differentials (geographically-based) vary greatly within the same state (e.g., San Francisco vs. Los Angeles, CA or Dallas vs. El Paso, TX). Also, salary & benefits will vary depending on the treatment of employee health premiums and type and/or richness of retirement plans (not to mention 457 plans). Finer factors will include: org structure (% of executive, management, staff positions), type of membership (high, average, or low average account balance), electronic services delivery (members who are primarily high-tech vs. high-touch), number of offices, cash vs. cashless, etc. Over the years, we have constructed a comprehensive HR productivity analysis model. As spreads get thinner, credit unions are more interested in the HR side of the modeling. Thanks for giving this some airtime. Salary & Benefits is the largest line item operating expense that is truly a resource. When this resource is carefully considered, planned & effectively managed it is truly "the resource" to a credit union's success. Rhonda Cooke, Pres/CEO Cooke/Andres, Inc.