With unemployment at record lows, credit unions need to stay competitive to retain top talent.

CU CEOs earn 10% less than CEOs at similarly sized institutions.

“Encourage the board to talk about compensation philosophy and come into agreement so you can manage to it,” advises CUNA Mutual Group’s Scott Albraccio.

Compensation at retirement doesn’t carry the same weight it once did, so CUs should now think of this tool as a supplemental executive retention plan.

Having a CEO compensation plan in place gives the board and chief executive clear performance expectations.

Continually monitor and assess your compensation strategy to ensure it remains effective.

Variables pay, in the form of incentives or bonuses, continues to be a popular method of rewarding CU employees.

CEOs at CUs with at least $100 million in assets will earn a median salary of $207,000 this year, according to CUNA’s 2015-2016 Total Compensation Report, CEO.

Examine various sides of the compensation puzzle.

By tapping into CUNA Compensation Analytics, you’ll gain access to an exhaustive database of salary information for credit union professionals.