Total employee compensation and benefits were up 7.51% for all US credit unions at year-end 2006, rising from $10.96 billion to $11.78 billion. Over the last 12-months, the total number of employees increased 3.10%, up almost 7,000 people, to 228,405.
Productivity improved when looking at the average dollar amount of revenue earned per dollar spent on salary and benefits. At year-end, this stood at $4.07 for all US credit unions, with the peer group averages varying from a low of $3.08 to a high of $5.03 revenue earned per dollar spent.
Productivity in terms of members served declined slightly. On average, credit unions are serving fewer members per employee across all peer groups. The average hides productivity success stories though. Credit unions in the 95th percentile of performance serve over 750 members per employee!