Then-President & CEO Paul Parish of Wings Financial Credit Union received $7.8 million in annual compensation in 2010, according to the credit union’s IRS 990 Form.
That figure included a one-time taxable deferred compensation payout, said Vice President of Marketing John Wagner.
Parish retired from the $3.6 billion institution in October 2011.
“He was the CEO for 20 years, and grew the institution from $300 million to $3.2 billion,” Wagner said. “We were profitable every year, through good times and bad, so we think he did an excellent job.”
Wagner added that Parish’s compensation was part of the credit union board’s “market-based compensation program.”
The 990 form also revealed a $3 million payout to Chief Administration Officer Paul Dinger, who also retired. Executive Vice President Mark Everson was paid $3.2 million in 2010, and remains with the credit union, Wagner said.
Board Chairman David Olson received a $12,000 stipend in 2010, according to the required tax filing.