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Member-owned institutions under greater scrutiny as their popularity, balance sheets grow
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Unions often provide financial lifeline to a traditional banks won't step fan but he's not for profit remember -- institutions.
Are now under greater scrutiny at their popularity in their balance sheets -- especially yeah.
Financial crisis at least yet Acuna live in Denver with -- at least -- -- -- -- credit unions are designed to serve the financially.
Under served in the CEOs are usually hired by volunteer boards but it turns out that those positions pay a lot more than some might expect.
-- pretty union membership doubled into 111 thanks in part to the so called being transferred game last fall.
When members of the Occupy Movement called on Americans to take their money out of for profit banks and put it in not for profit credit unions.
And customer for seventeen yeah.
I did -- it's not -- -- I think it.
There's enough people that are that are transferring their money and putting money into.
Alternative areas that the banks are gonna have to actually become better -- Since turns out is these tax exempt institutions grew so did compensation for their CEOs.
In Denver it was recently reported former public service credit union CEO.
David Moss received a nine point three million dollar retirement payout into when he ten on top of his half a million dollar base salary and one point two million and other compensation.
It's -- -- start -- the big bucks.
People are going to ask why -- they have this tax exempt stats.
Critics acknowledge that -- case is extreme that nationwide CEO pay for credit unions is up more than 6%.
Industry rhapsody.
Against banks that took the government bail out.
So you know -- a competitive marketplace you have to pay for the talent that you get this thing is justified by.
Looking at other people in the financial industry that's kind of like me saying I should be paid like George Clooney because I'm in the media industry.
And the Credit Union National Association points out that it CEOs still -- only make a fraction of what traditional banking CEOs make.
Interesting development there at least -- thank you.
