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More Texans Find Employment in CUs
Wednesday, April 10, 2013 6:20 AM

The total number of credit union employees increased by 2.8 percent in 2012, the largest credit union employment increase since the Great Recession.  The 2012 growth brought the total number of credit union employees nationwide to 265,201 from 257,872 the previous year. The number of full-time and part-time employees on credit union payrolls increased by 3.1 percent and 1.3 percent, respectively.

This employment level increase follows several years of flat or declining staffing totals following the 2007 economic crisis.

Nearly 22,000 people are employed by credit unions across Texas, representing 8.3 percent of the national total. This number rises to 25,916 in the three-state area of Texas, Oklahoma and Arkansas, representing 9.8 percent of total U.S. credit union employment. Employment grew by 3.9 percent in Texas and 3.7 percent across the region, beating national averages.

Credit union employee compensation and benefits equals 49.3 percent of total operating expenses in 2012, up from 47.9 percent in 2011.

(Source: Analysis of NCUA 5300 Call Report Data)