The 2015-2016 editions of the CUNA Compensation Analytics and CUNA Staff Salary Report showed 75% to 85% of credit unions plan to give raises this year.
According to the analysis, which was limited to credit unions with $1 million or more in assets and at least one full-time employee, the majority of credit unions said they will give base pay raises in 2015 and 2016 to individuals in both management and non-management positions.
The CUNA Staff Salary Report provides data on more than 1,300 credit unions nationwide.
The analysis also showed that more than 70% of credit unions that took part in the survey offer some form of bonus or incentive pay to full-time employees, and for credit unions with more than $100 million in assets, that percentage bumps to 90%. It also noted that 35% to 55% of credit unions plan to hire additional full-time employees this year.
"In the compensation resources market these two products stand alone," Jon Haller, director of corporate and market research at CUNA, said. "No matter the size of your credit union, CUNA Staff Salary Report and Compensation Analytics will empower you to make fair, competitive and – above all – informed salary decisions."
The books containing the full analysis are available in print, eBook and PDF format, and can be purchased together or separately directly from CUNA.
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