Mica 8th Highest Paid Exec

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CUNA CEO Dan Mica was the eighth-highest paid financial trade association executive in 2004, the most recent year for which data is available.

Mica took home $813,752 for the year in total compensation, with base pay increasing 8.17% to $744,588.

The average for the 11 trade groups surveyed by the American Banker, an affiliate of The Credit Union Journal, was $1.39 million in compensation for 2004.

Highest paid was Terrence McDermott, CEO of the National Association of Realtors, who reported $2.63 million in salary and bonus, and deferred bonuses and payments pushing total earnings to $3.24 million.

Among compensation paid others:

* Robert E. Vagley of the American Insurance Association: $2.76 million.

* Donald G. Ogilvie of the American Bankers Association: $1.41 million (Ogilvie has since retired and was replaced by Edward Yingling.)

* Paul S. Stevens of the Investment Co. Institute: $1.38 million.

* Joe Beloew of the Consumer Bankers Association: $1.32 million.

The American Banker reported that on average the trade groups allocated 7.3% of their expenses to compensating their top executive.

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