Mica's pay on par with other financial association leaders; Becker's isn't

WASHINGTON – According to the 2001 IRS 990 forms available from CUNA and NAFCU, NAFCU President and CEO Fred Becker not only dramatically trails behind CUNA President and CEO Dan Mica in salary, he also falls short of a few of CUNA’s top executives. In 2001, Mica earned a total of $681,143 with $8,500 of that deferred, for an 8.62% raise over the previous year. Meanwhile, in 2001, NAFCU President and CEO Fred Becker earned $224,270, with $12,061 additional salary deferred. CUNA’s 990s go into much more detail, including many of its top officers. For example, Senious “Pete” Crear, CUNA’s chief operating officer and executive vice president, earned $284,762 in 2001 with $8,500 deferred. John McKechnie, who joined the ranks of CUNA’s top officers last year as senior vice president of government affairs, made $165,866, including $8,293 deferred, in 2001. Senior Vice President and Chief Technology Officer David Plank’s salary dropped 9.64% from $162,472 in 2000 to $146,803 for 2001 due to a bonus he received for his work on Y2K. (See chart for more details.) According to the most recent IRS 990 forms available on all the financial trade associations (for 2000), CUNA outpaced other groups in terms of growth, while Mica’s salary was below the average salary among the lobby groups. CUNA experienced a 67% increase in net assets to $12.9 million in 2000, American Banker reported. Its revenues climbed to $44.3 million, up 39% over the previous year, while expenses jumped 23.5% to $39.3 million. However, in 2001, CUNA’s net assets fell to $11.9 million and revenue dropped to $36.3 million. Expenses also decreased to $37.3 million. Last year CUNA was forced to cancel its Symposium last September, which is a big money maker for the organization, after the terrorist attacks. The organization not only lost the income, but also lost some deposits made on the facilities involved. Additionally, CUNA has been unable sublet its old office space and the extra space in its new offices yet as it planned. Mica received a pay increase in 2000 of 6%, bringing his salary up to $635,560 with $8,500 of that deferred. American Bankers Association Executive Vice President Don Ogilvie earned $832,616 in 2000. However, Mica beat out Independent Community Bankers of America (ICBA) Executive Vice President Ken Guenther at $465,493 and America’s Community Bankers President and CEO Diane Casey at $358,240 in her first year in the top position. Guenther, who had headed up ICBA (formerly IBAA) for 20 years in 2000, had the third largest expense account at $38,602. The average financial trade group’s CEO salary for 2000 was over $710,000. [email protected]