credit union Articles

Should Your Credit Union Think About Long-Term Incentives?

In today’s fiercely competitive market, credit unions are increasingly competing with the broader financial services market for top talent. This results in the need for new compensation plan design for credit union executives and key leaders. We’re beginning to see a rise in prevalence of long-term incentive plans (LTIPs) driven by three main factors:

  • Market trend towards performance-based compensation
  • Risk best practices
  • Tax law changes

Credit Union Compensation Philosophy: Going Beyond “Attract, Retain, and Motivate”

What is your credit union’s compensation philosophy? When they’re well thought through, compensation philosophies can help provide an important framework for pay decisions throughout a firm. But far too often, these philosophies are antiquated, and include general phrases like “we strive to provide competitive compensation” and “the goal of our compensation structure is to attract, retain, and motivate.” While few can disagree with these types of platitudes, they are rarely helpful when making actual decisions.

Credit Union Director Compensation: From Taboo to Typical

Are you thinking about providing director compensation at your credit union? This article discusses the pros and cons of this trending topic, and how your credit union should approach its board compensation philosophy.

Best Practices for Credit Union Executive Compensation and Governance

Does your credit union’s executive compensation program meet governance standards? How does it compare to the market? This article outlines useful tips to help keep your firm on track.