When market conditions are in flux, data is key

by America's Credit Unions

The current economic situation is one of uncertain optimism. The Federal Reserve’s September interest rate cuts have been followed by an announcement by the U.S. Bureau of Labor Statistics that payrolls rose by 254,000 employees in September and unemployment rates are at 4.1%, changing little from the previous month.

While this information is analyzed for 2025 forecasts, credit unions must continue to balance the need for competitive compensation packages with budget constraints. For example, when rates decrease and load demand increases, credit unions need to make strategic decisions about staffing and compensation that could have long-term impacts on their financial stability and ability to attract top talent.

Leverage compensation resources for informed decisions

As credit unions navigate the complexities of a transitioning economy, having access to reliable, industry-specific data is crucial. America’s Credit Unions’ Compensation Resources stands out as a premier tool designed specifically to support credit unions in making informed salary and compensation decisions.

“With more than 800 participating credit unions and 90 job descriptions surveyed, these resources provide the most up-to-date primary data available, allowing institutions to benchmark industry standards effectively,” said Dayna Johnson Schmitt, America’s Credit Unions product manager.

For more than 30 years, Compensation Resources has been a trusted resource, offering data uniquely tailored to the credit union industry. This long-standing reliability ensures that credit unions can attract and retain the best candidates by setting competitive compensation packages.

The availability of Compensation Analytics as an online tool further enhances decision-making by providing a user-friendly platform to access and analyze this critical data, with the ability to create custom, downloadable reports.

Take action and develop your team

To make data-driven compensation decisions to shape your team in today’s evolving market, these are the reports that comprise Compensation Resources:

Each product is designed to address the unique needs of credit unions, ensuring you have the data to develop your best team and navigate changing economic conditions to best serve your members.