WASHINGTON – CUNA President Dan Mica announced today he will retire as head of the industry’s largest trade group in January 2011.
Mica, who is 65, took over CUNA in 1996 as it was mired in debt from an ill-fated foray into the credit card processing business, then restructured it while guiding it through a national campaign that overturned a Supreme Court ruling barring multiple group fields of membership, culminating in HR 1151, the 1998 CU Membership Access Act.
In more recent years CUNA has been beset by financial woes that have affected credit unions, losing more than $8 million in 2008 and $5 million in 2007.
Today’s announcement is likely to set off a succession competition for the highest-paying job in the credit union movement, which pays about $1.2 million a year.
