CUNA Paid Mica $1.6 million, Cheney Made $560,000
For the second half of 2010, CUNA paid the salaries of two CEOs.
Former CUNA President Dan Mica earned $1.6 million in salary and benefits last year (a 4.7% increase over 2009) while his successor Bill Cheney earned $560,000 for his six months in 2010, according to a form filed with the IRS.
Mica left the top job at CUNA last June 30 but the trade association paid him through his full contract, which ended Dec. 31. He had a compensation package that included: A base salary of $805,694; bonuses and incentives of $205,424; $629,631 in reportable compensation; $19,600 in retirement and other deferred compensation; and $15,959 in nontaxable benefits.
Cheney, who began work on July 1, received a compensation package that included a base salary of $333,305; a signing bonus of $150,000; other reportable compensation of $49,632; $17,640 in retirement and deferred compensation; and nontaxable benefits of $9,587.
CUNA earned $52.4 million in revenue last year, compared with $51.3 million in 2009.
NAFCU also shared its 990 form.