WASHINGTON — Bowing to the pressures that come with a recession, CUNA has eliminated eight positions-through lay offs and attrition-and eliminated merit increases for senior staff members.

CUNA President and CEO Dan Mica said these changes will result in "significant savings" to the trade association, which has a $56 million annual budget and 270 full-time-equivalent employees.

"Our combined actions so far have enabled CUNA to bring our year-end 2008 budget into balance and be better prepared for any higher-than-anticipated revenue shortfall," he added.

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