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League Statement on Compensation Focus

BEAVERTON, Ore. - Leagues act as advocates for their state's credit unions and are prepared to fight for them on legislative and regulatory issues and of course banker attacks, but what's a league to do when CEO compensation of its CUs is being called into question by local media. It's...

By Staff Writer | Updated on August 24, 2004

BEAVERTON, Ore. – Leagues act as advocates for their state’s credit unions and are prepared to fight for them on legislative and regulatory issues and of course banker attacks, but what’s a league to do when CEO compensation of its CUs is being called into question by local media. It’s a touchy subject and the Credit Union Association of Oregon said it is standing behind its credit unions 100%. Here’s a statement from the league on the focus on CEO compensation. “As a trade association, we don’t have anything to do with our credit union CEOs’ compensation packages. Compensation for credit union CEOs is set by each credit union’s board of directors, and is in line with the board’s policies and goals. The boards set the compensation for CEOs based on market factors and goals related to delivering member value. Compensation typically rises in line with the size of financial stewardship of a credit union, as it does with banks. We understand, from talking with our credit union CEOs, that most boards use outside, national consulting firms and national salary surveys when determining compensation packages. Having said all that, it is intriguing that the press is still so interested in this topic. We feel our credit unions are doing a great job answering press questions and getting the appropriate information out to their members. We respect our credit unions’ individual decisions on how they wish to handle talking with the press and getting information out to their members. And we are here to support them as needed.”

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