NCUA’s Ranks of Highest Paid Grows
Last year, 29 NCUA employees made more than $201,000, an increase from 25 the year before, according to agency records.
NCUA Executive Director David Marquis was the highest paid agency employee, with an annual salary of $260,708. Melinda Love, who was Marquis’ deputy for the last several months of 2011 and before that headed the agency’s Office of Examination and Insurance, had the second highest salary at $260,000. Larry Fazio, who succeeded Love at the helm of the Office of Examination and Insurance, earned $218,406.
The agency released the information as a result of a request from Credit Union Times, filed under the Freedom of Information Act.
For this year, the agency’s budget is $236.8 million, a 5.1% increase from 2011. The agency has budgeted $170.8 million on wages and benefits for this year, a $7.6 million increase over last year. This includes funds for 33 new employees, 26 of which will be for examination-related positions. The budget funds 1,259.5 full-time equivalent positions.
Kentucky Employees CU President/CEO John Graham said the agency’s performance is mixed.
“They’ve done good things, such as being receptive to the suggestion that it considers broadening the definition of small credit unions,’’ said Graham, whose Frankfort, Ky.-based credit union has assets of $59 million.