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SERP Use on the Rise for Credit Union CEOs, Survey Reveals

More credit unions are offering supplemental executive retirement plans as a means to retain top executives.

By Michelle A. Samaad | Updated on November 14, 2006

THE WOODLANDS, Texas — More credit unions are offering supplemental executive retirement plans as a means to retain top executives.

According to a D. Hilton Associates Inc. survey of executive retention and retirement plans in the credit union industry, more than 56% of credit unions with assets of $200 million or more offered their CEO a SERP and 47% of all credit unions that offered their CEO a SERP also offered other executives the opportunity to participate. In 2005, 20% of CEO respondents who had been at their jobs for less than three years reported that their board provided them with a SERP, compared to 2003 when no one at that level was offered this benefit.

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