E.H. “Pete” Weldon knows that in credit unions, as in life, youget what you pay for. Never is the phrase truer than when fillingthe position of president/CEO.

As chair of the $209 million 1stCommunity Federal Credit Union in San Angelo, Texas,Weldon said he worked very hard to make sure when Bill Nikolauk waspromoted to take the helm of the financial institution in 1996 thathis compensation was raised accordingly.

Weldon said he didn't quite get the 40% spike to Nikolauk'sformer salary as vice president of operations that he was seeking,but the board approved an increase close enough to keep someonethat Weldon and others considered an excellent candidate to leadthe credit union.

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