Kirk Kordeleski Money Talks Episode 9: Knowing Your Risk Tolerance
Talk about Hatfields vs. McCoys. In the world of credit union C-suite retirement planning there are two major competing scenarios. There are SERPs based on whole life policies. And there are IULs, indexed universal life plans. In this intro I am not going to tell you the difference. That’s because this is a complex topic […]
CUbroadcast: 4 Foundations of Executive Compensation to Help Keep the “Band” Together
Recently, I and Tansley Stearns, President/CEO at Community Financial Credit Union, sat down with Mike Lawson of CUbroadcast. It was a great day at the CUES Symposium. And, as luck would have it, it was also a great day to discuss the strategic power of executive compensation planning. Tansley had been at Canvas Credit Union […]
Kirk Kordeleski Money Talks Episode 8: Why Low Pay for the CEO Sets Your CU on a Path of Failure
Pick a number… and here’s the question: Over the last 11 years, CEO pay in credit unions has gone up 2% per year, 5% per year, or greater than 10% per year? Take a deep breath now. The answer is 7.5%, said Kirk Kordleski, past CEO of Bethpage Credit Union, one of the nation’s biggest, […]
Kirk Kordeleski Money Talks Episode 7: Revisiting a Now Out of Date SERP or a 457F Retirement Package
Lucky you. You negotiated a satisfactory SERP (Supplemental Executive Retirement Plan) or maybe it was a 457F bonus package. Just one problem: Ballooning prices in today’s economy coupled with the fast-paced growth many credit unions have experienced in the past five years probably have rendered those plans as woefully too small. Remember, the standard goal […]
Kirk Kordeleski Money Talks Episode 6: How to Persuade a Board on Executive Retirement Packages
Tune into the podcast here. Here is where the pedal hits the metal. In this show credit union executive retirement compensation expert Kirk Kordeleski tells how the credit union senior executives can persuade their board to agree to market rate retirement plans that may well involve multiple millions of dollars for the executive team. That’s […]
How the Current Rate Environment Impacts Credit Union Executive Compensation
Tim Strandquist, Executive Benefit Consultant at OM Financial Group, stopped by the CU Broadcast Studio Lounge to discuss how today’s rate environment is impacting executive compensation in the credit union industry. Very interesting discussion here with Tim… especially in the current executive turnover era we are in right now. See the original post here.
Kirk Kordeleski Money Talks Episode 5: The Five Generations of Credit Union Leaders, Their Compensation, and Surviving Recession
Today’s credit union leadership – especially at the nation’s best and biggest credit unions- is professional and deeply versed in financial services. But that wasn’t always so in credit union land. This episode opens with Kirk Kordeleski – onetime CEO at Bethpage Federal Credit Union, one of the nation’s biggest, and now an executive at […]
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 […]
Money Talks with Kirk Kordeleski Episode 3: CUES and Its Executive Compensation Bombshell
The latest CUES executive compensation numbers for credit union executives showed that total comp was up 14.9%. Hear more here.
Money Talks with Kirk Kordeleski Episode 2: Executive Comp As a Strategic Initiative
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.