Sick of rising fees, poor customer service and huge salaries for multinational bank executives, local residents moved millions of dollars to credit union accounts on Bank Transfer Day this weekend.
But credit union executives arent exactly among the 99%, either.
While none earn nearly as much as the CEO of Wells Fargo, who garnered about $17.5 million in pay and stock options last year, the bosses at the state's largest credit unions averaged about $600,000 in compensation during 2009. Since credit unions are much smaller than banks, a greater proportion of their income often goes to pay their top executive.
This chart shows the 2009 compensation of the highest-paid executives at 25 of California's largest non-profit credit unions, according to tax filings.
Sources: IRS; Guidestar. Shown are the 25 credit unions with the highest annual income during 2009, excluding those that do not file IRS form 990s.
© Copyright The Sacramento Bee. All rights reserved.
Read more articles by Phillip Reese
What You Should Know About Comments on Sacbee.com
Sacbee.com is happy to provide a forum for reader interaction, discussion, feedback and reaction to our stories. However, we reserve the right to delete inappropriate comments or ban users who can't play nice. (See our full terms of service here.)
Here are some rules of the road:
Keep your comments civil. Don't insult one another or the subjects of our articles. If you think a comment violates our guidelines click the "Report Abuse" link to notify the moderators. Responding to the comment will only encourage bad behavior.
Don't use profanities, vulgarities or hate speech. This is a general interest news site. Sometimes, there are children present. Don't say anything in a way you wouldn't want your own child to hear.
Do not attack other users; focus your comments on issues, not individuals.
Stay on topic. Only post comments relevant to the article at hand.
Do not copy and paste outside material into the comment box.
Don't repeat the same comment over and over. We heard you the first time.
Do not use the commenting system for advertising. That's spam and it isn't allowed.
Don't use all capital letters. That's akin to yelling and not appreciated by the audience.
Don't flag other users' comments just because you don't agree with their point of view. Please only flag comments that violate these guidelines.
You should also know that The Sacramento Bee does not screen comments before they are posted. You are more likely to see inappropriate comments before our staff does, so we ask that you click the "Report Abuse" link to submit those comments for moderator review. You also may notify us via email at firstname.lastname@example.org. Note the headline on which the comment is made and tell us the profile name of the user who made the comment. Remember, comment moderation is subjective. You may find some material objectionable that we won't and vice versa.
If you submit a comment, the user name of your account will appear along with it. Users cannot remove their own comments once they have submitted them.