Credit unions are tax-exempt cooperatives owned by their members. Some use member deposits to fund secret executive retirement plans (SERPs) that members never approved. This database tracks them — state by state, quarter by quarter — using public NCUA 5300 Call Reports.
| State ▼ | Credit Union ▼ | City ▼ | Charter ▼ | SERP % ▼ | SERP $ ▼ | Total Assets ▼ | Founded ▼ | SERP Since ▼ | NCUA |
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A Supplemental Executive Retirement Plan (SERP) is a deferred compensation arrangement that pays credit union executives retirement benefits beyond what standard plans provide. These plans are funded through Bank-Owned Life Insurance (BOLI) — life insurance policies purchased on executives, recorded on the balance sheet under NCUA Account Code 798E.
SERPs are not illegal. But they are almost always secret. Credit union members — the legal owners — are not told how much of their deposits fund executive retirement. No member vote is required. No annual disclosure is given. The only place these numbers appear is buried deep in regulatory filings most members never see.
This database extracts that data from public NCUA 5300 Call Reports and presents it in a format every member can understand. We calculate the SERP-to-asset ratio for each credit union, flag those above 5%, and archive every quarter so members can track changes over time.
Any credit union where BOLI / SERP assets exceed 5% of total assets is flagged. This is not a legal threshold — it is a transparency threshold. When 1 in every 20 dollars members deposit is redirected to executive retirement plans without disclosure, members deserve to know.
We started with New Mexico. Help us expand to all 50 states by submitting tips, data, or corrections.