Credit union industry experts: What’s in store for 2014

Originally posted on CUInsight.

By Randy Salser, President, NAFCU Services

The NAFCU Preferred Partners represent a select roster of companies that are deeply committed to the NAFCU mission and credit union community. Join us at the NAFCU Strategic Growth Conference for more ideas on innovation and growth »

For a look at what lies ahead in 2014 for credit unions, we turned to the Preferred Partner experts:

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How Do Your Executive Benefits and Compensation Stack Up Against Your Peers?

Originally posted on CUInsight.com.

By David Frankil, President, Burns-Fazzi, Brock

Whenever I play golf (rarely) I’m told that I’m only competing against myself. Odds are it is my foursomes’ way of making me feel better about shooting my weight instead of some much more reasonable number.  No issue there, we’re all just trying to improve our respective game—but some perspective is helpful, even if only to set goals and understand best practices.

The same can be said about executive compensation and benefits—it is not a competition, but it is helpful to know how your peers compare. The key difference is that structure also counts when it comes to compensation and benefits.  For example, do credit unions in your peer group just provide 457 plans, or do they also have split-dollar plans?

The NAFCU-BFB Executive Compensation and Benefits Survey of Federal Credit Unions

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One Thousand Pound Pumpkins Don’t Grow By Chance (Nor Do Executive Benefit Plans)!

Guest post written by Tyler Quigley, National Director of Marketing, Burns-Fazzi, Brock (BFB). Tyler and his family tend their field of dreams in Mountain Green, Utah.

 

Burns-Fazzi, Brock (BFB) is the NAFCU Services Preferred Partner for Executive Compensation and Benefit Consulting.

As you may recall, my last blog post in August compared growing giant pumpkins to growing a world-class executive benefit plan. I wanted to follow up with an update on how the 2013 season ended up for me and my family. Well, it turned out very successfully with a 1,238 pound pumpkin!! This weight was good enough for a first place finish at our Utah Giant Pumpkin Growers annual weigh-off which was held last Saturday.

Have you ever seen a 1,238 pound pumpkin before?

A few takeaways from this season (that work equally for both pumpkin growing *and* for growing an executive benefit plan):

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Extraordinary Growth Doesn’t Just Happen: A Giant Pumpkin Farmer’s Perspective on Executive Benefits

Guest post written by Tyler Quigley, National Director of Marketing, Burns-Fazzi, Brock (BFB). Tyler and his family tend their field of dreams in Mountain Green, Utah.

 

BFB is the NAFCU Services Preferred Partner for Executive Compensation and Benefit Consulting.

My name is Tyler, and I grow giant pumpkins. Not just big pumpkins. Giant pumpkins. The kind of pumpkins that could someday rise out of the murky depths of the Pacific Ocean and terrorize Tokyo. My personal best came from one of the pumpkins I grew last season. It weighed in at 1,454.5 pounds and was the second largest ever recorded in Utah.

Growing a pumpkin that large is an enormous (pardon the obligatory pun) undertaking, and as I’ve learned more about the planning, hard work, and dedication necessary to cultivating these behemoths, I’ve realized there are a lot of parallels to be drawn between cultivating pumpkins and the principles of my day job.

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