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One of the pandemic's aftermaths is that it is expected to accelerate the pace of credit union mergers in 2021. CEOs are more open to discuss merger options than in past years, and COVID-19 is a main driver for several reasons including declines in capital, according to David Ritter of ALM First, a managing director of the Dallas-based financial advisory services firm.
But what may not be on the radar of credit union executives is how their deferred compensation arrangements, executive bonus plans and split dollar retirement benefit agreements may be impacted by a consolidation, according to a report by Triscend, which provides executive benefit, compensation and succession planning services for credit unions.
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