Executive Compensation Policy


The Credit Union CEO and Executive benefits are reviewed annually by the Governance Committee. This review is done in consultation with information from Canadian Credit Union Association (CCUA), and management benefits in general are within the average of credit union industry average and Kootenay credit union benefit averages.



StellerVista’s Variable Pay Program subscribes to a philosophy of valuing, motivating and rewarding managers and non-union employees who influence organizational success. This program is a pool of money each non-union employee can earn, over and above their base pay. It is measured on the success of the credit union along with individual, organizational and departmental performance. StellerVista’s Board of Directors, as part of their planning process, regularly reviews the strategic direction for the credit union. From this, the Board then determines Key Performance Indications (KPIs) which describe what the Credit Union needs to achieve in order to be successful. The Credit Union CEO and Executive are responsible for achievement of these KPIs and are reflected in their variable pay targets as well as individual performance; payout/non- payout of the plan is approved annually by the Board of Directors. StellerVista Variable Pay Plan is reviewed at a minimum every 5 years with outside expertise, as part of the Governance Committee Terms of Reference, to ensure the plan drives balanced strategic success for StellerVista and is within credit union industry standards and competitiveness.



StellerVista Credit Union CEO is employed under an Employment Agreement. This contract is reviewed annually as part of the Governance Committee Terms of Reference.  Remuneration is based upon an annual “Market Place Value”, as determined by CCUA, based upon a regression analysis of Credit Union CEO’s in Canada, placing the Credit Union CEO in the 75th percentile. A regression analysis is a report of all Credit Union CEO’s in Canada (from reporting credit unions) on a grid with the on/off book assets for their credit union, with their level of pay, then placing StellerVista Credit Union CEO on the grid based upon on/off book assets, and determining an annual pay for the CEO position.  StellerVista places the incumbent Credit Union CEO at the 75th percentile. This is in recognition of the unique business model and size of StellerVista, performance expectations required from the organization, as well the age and performance record of the incumbent, and leadership competitiveness in the credit union industry.


The CEO participates in the Credit Union’s Benefit Program with the same terms offered to all employees.  Additional benefits and perquisites are also provided including participation in a Supplemental Executive Retirement Plan (SERP).  The SERP will provide periodic retirement benefits after retirement to offset CRA limits and is structured to encourage credit union growth and retention of the incumbent.



Executive compensation will be reviewed annually by the Credit Union CEO, in relations to the market information provided by CCUA. The credit Union CEO will use comparison data for all participating like sized BC Credit Unions in the survey and StellerVista Executive to be paid at the average of those credit unions. StellerVista Executive receive annual market adjustments based on the CCUA salary survey projections. Executive compensation is reported to the Governance Committee annually.