CUNA Survey Sheds Light on Turnover Rates

The CUNA survey was conducted online between January and May. Surveys were sent to 6,017 credit unions with $1 million or more in assets and there were 1,553 respondents.

Institution Level Turnover Rates:

• 2008 – 15%
• 2009 – 9%
• 2010 – 12%

Management Turnover Rates:

• 2008 – 6%
• 2009 – 5%
• 2009 – 5%

Front-Line Staff Turnover Rates:

• 2008 – 20%
• 2009 – 19%
• 2010 – 18%

Other noteworthy results from the survey include:

• 3% of employees were hired for newly created positions, which has remained the same since 2008.
• Overall there is an average of 36.9 full-time-equivalent employees at Credit Unions surveyed.

 

Excerpts taken from the Claude R. Marx Credit Union Times article “CUNA Survey: Turnover Up Though Less Than Before Recession“