The strategic use of capital has never been more important. For some background, the NCUA allows credit unions to use up to 25% of their capital to fund HR benefits with “impermissible” investments (equities, etc.). These HR benefits can fund health insurance, SERPs, and more. But a 25% cap necessarily limits the amount of capital […]
Kirk Kordeleski Money Talks Episode 4: Interest Rates and A Credit Union’s Executive Retirement Plan
The stark reality is that as interest rates edge up – and already in much of Europe inflation has climbed above 10% in the year and interest rates will follow – a fresh new look is being given credit union executive retirement plans. It is just exponentially harder – and more expensive – to plan […]
The latest CUES executive compensation numbers for credit union executives showed that total comp was up 14.9%. Hear more here.
A standard salary and standard retirement plan is no longer enough to recruit the leaders of the future and satisfy them in the long run. Credit unions must get up to speed and pay their executives the way the market demands.
Unless a credit union has invested in creating a first-rate leadership team, it won’t have the staff capabilities to make the most of its capital investments in more traditional vehicles.
SERPs (Supplemental Executive Retirement Plans) aren’t just shiny carrots to dangle in front of prospective talent—they can also be an asset to the credit union itself.
Are you earning enough at a credit union? Here’s the bad news: it’s not easy to figure out the right answer to that question. Information about executive pay at credit unions is not easy to come by. Here’s the worse news: If a top exec at a credit union is underpaid, very probably most of […]
Today, many credit unions are growing and adding C-level talent—many from for-profit industries that had stock options. Now that credit unions are competing on a new playing field of fintechs, digitally service-oriented big banks, and big tech firms, retaining and recruiting the right leaders is essential. The demand for talent is at an all-time high, […]
Imagine you are a Millennial or Gen X credit union executive. You have spent 10–20 years honing your impeccable tech and financial industry skills. You understand ACH, routing numbers, loan participations, Asset and Liability Management, and Reg D/E. You love credit unions and the industry. Sure, sometimes we are a little slow to make decisions, […]