Millions of dedicated credit union employees, Board members, and volunteers around the nation are living proof that effective messaging, and a belief in the values an institution stands for, hold just as much sway as financial incentives.
Twelve-month growth for salaries and benefits trended downward in 2010 at 1.2% annualized growth, with efficiency and protecting membership value a high priority. Money can’t buy happiness, but it can be an additional way for credit unions to reward and incentivize their productive workers and attract the leadership necessary to take the institution to the next level.
Although their size and business models vary, these institutions' commitment to their members' best interest remains a shared trait. Here are the industry leaders for annualized salary and benefits per full-time employee.
|
Leaders in Salary & Benefits per FTE Employee*
|
| Data as of June 30, 2010 | Credit Unions over $20M in Assets |
| 1 |
PROGRESSIVE |
NY |
$205,310 |
22 |
$1,665,801 |
$607,283,782 |
| 2 |
STATE CENTRAL |
WI |
$155,164 |
42 |
$107,827 |
$69,041,723 |
| 3 |
REALTORS |
MD |
$140,988 |
18 |
$137,944 |
$72,709,038 |
| 4 |
MELROSE |
NY |
$139,109 |
63 |
$1,142,617 |
$1,279,162,522 |
| 5 |
STAR ONE |
CA |
$127,448 |
164 |
$1,147,457 |
$5,240,381,871 |
| 6 |
SAN JOAQUIN POWER EMPLOYEES |
CA |
$126,539 |
6 |
$924,787 |
$116,735,498 |
| 7 |
HOBOKEN SCHOOL EMPLOYEES |
NJ |
$125,303 |
4 |
$501,887 |
$41,376,690 |
| 8 |
FRESNO POLICE DEPARTMENT |
CA |
$124,853 |
7 |
$408,653 |
$42,721,359 |
| 9 |
INDUSTRIAL |
MA |
$123,266 |
9 |
$643,138 |
$135,114,957 |
| 10 |
PAHO-WHO |
DC |
$120,293 |
10 |
$658,835 |
$179,212,616 |