Compensation Committee Charter Template for Credit Union

The Committee shall be responsible for recommending to the Board the Credit Union’s overall compensation philosophy. The Committee will also assist the Board to discharge its responsibilities related to the compensation of the Credit Union’s CEO, including any appropriate incentive compensation or benefits, as defined in applicable regulatory guidance. The Committee will make recommendations to the Board on such matters and provide updates to the Board as needed. Unless otherwise delegated, all final decisions related to the CEO’s compensation and benefits, as well as the Credit Union’s overall compensation philosophy, are the Board’s responsibility and will be made considering the Committee’s recommendations.