Summary
With all the sour economic trends that the financial services industry has weathered in recent months, it looks like the boards of many credit unions have found some reason for optimism. That's one possible conclusion to draw from an analysis of the 2009 CUES Executive Compensation Survey, which shows a substantial decrease in the rate of salary and bonus hikes awarded to CEOs and other executives -- but an increase nonetheless. Executive compensation increases took a big drop in 2009 in comparison with recent years. Despite the significant drop in compensation increases, other trends from past years persist in the 2009 survey data. Larger credit unions continue to give higher bonuses to their CEOs, as a percentage of base pay, than smaller organizations. One final carryover from past years is that boards continue to base CEO compensation decisions on three main criteria: earnings, board evaluations and loan growth.
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Scouting Report
In tough times, there's a tendency to look for bright spots, to temper the bad news with the good. With all the sour economic trends that the financial services industry has weathered in recent months, it looks like the boards of many credit unions have found some reason for optimism.
That's one possible conclusion to draw from an analysis of the 2009 CUES Executive Compensation Survey, which shows a substantial decrease in the rate of salary and bonus hikes awarded to CEOs and other executives- but an increase nonetheless.Executive compensation increases took a big drop in 2009 in comparison with recent years.When looking specifically at...See the full content of this document
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