WASHINGTON – CUNA said it paid just over a $1 million to its President Dan Mica last year, believed to be the first executive in credit union’s to top the $1 million threshold.
Mica earned a $938,769 salary in 2007, up 4.2% from 2006, and employee retirement benefits of $27,447, as well as expense reimbursements of $42,470–a total of $1,008,686, according to CUNA’s annual Form 990 submitted to the Internal Revenue Service.
That’s more than twice as much as the $396,455 NAFCU paid its President Fred Becker in 2007, including a salary of $347,635 and retirement benefits of $48,820. Becker’s compensation was up almost 12% from 2006, according to NAFCU's Form 990.
Compensation for the other top CUNA executives for 2007 was: Richard McBride, Mica’s chief of staff, $402,172, including a salary of $386,299; John Franklin, chief of administration, $355,761, including a $324,711 salary; and Eric Richard, general counsel, $358,902, including salary of $335,894.
