NAFCU had a good year last and President/CEO Fred Becker was rewarded with a 22% increase, according to a document filed with the IRS.
The document required of all tax-exempt organization, showed Becker's total compensation to be $485,993 last year, compared to $396,455 the previous year.
NAFCU's Board said it made the decision about Becker's compensation after hiring a consultant who said that even with the increase, his compensation package was below the median of comparable organization.
Recommended For You
NAFCU's net income was $400,000 last year. NAFCU had $12.9 million in unrestricted assets at the end of 2008, compared with $12.5 million at the end of 2007. The association was hurt by the declining return on its investments, which was $247,964 last year, compared with $395,130 in 2007.
Becker's base salary in 2008 was $331,859; he received $83,125 in bonus and incentive compensation, $66,764 in deferred compensation, non-taxable $3,500 in non-taxable benefits and $745 in other payments.
CUNA President/CEO Dan Mica's total compensation package was $1.8 million last year.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
