Credit Union Executive Compensation and Benefits Survey

This technical report presents the Gallagher Executive Compensation and Benefits Survey, initiated in 2007, aimed at understanding the compensation and benefits provided to credit union executives. The survey categorizes data by asset ranges, detailing total compensation, bonus components, and nonqualified benefit plans. It highlights the increasing demand for skilled leaders and the competitive market for executive talent, emphasizing the importance of benchmarking compensation annually. The report discusses the role of executive benefits in succession planning, particularly as a significant portion of credit union CEOs are nearing retirement. It outlines various nonqualified plans, such as Split Dollar and 457(f), which are utilized to retain key leaders. The report also emphasizes the necessity of servicing executive benefit programs to ensure their effectiveness and compliance with changing regulations. Overall, it serves as a resource for credit unions to develop effective retention strategies and align executive performance with organizational goals.