Despite the financial difficulties of the financial services sector and CUNA, CUNA President/CEO Dan Mica's total compensation was $1.85 million last year, a 12% increase from 2007, according to a document filed with the IRS.
The documents, which is required of all tax-exempt organizations, showed that Mica's pay was 2.99% of total revenues. His base salary and fringe benefits was $810,528, his bonus and incentive compensation was $667,393, his car allowance was $26,617, and his deferred compensation was $349,039.
But Mica's compensation package, which is comparable to similar trade associations of CUNA's size, comes at a time when the organization faces severe financial difficulties.
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