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More than one-third of chief executive officers in the credit union industry could retire in the coming years, and the percentage of executives on senior management teams who could retire is even higher.
These numbers are staggering, and Credit Union Resources’ research has revealed that 78% of all the current CEOs are baby boomers, and 19% of all CEOs belong to Generation X (ages 31 to 49).
What does this data tell us? Well, if a large percentage of the industry’s CEOs may retire in the coming years, credit union leadership and boards need to have a reliable source to obtain executive talent. They need definitive and effective means of fulfilling those vacant positions with not just good hires, but the best hires.
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A new EU pay transparency directive has left many organizations feeling unprepared.
The list includes six credit unions merging due to poor financial condition and two for poor management.
California credit union says most of the loss is related to members overdrawing money during the event.
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