Wednesday, April 11, 2012

Maus' Pay Package Stuns CU Industry

The Denver Post is reporting on the compensation package for Dave Maus, President and CEO of Public Service Credit Union. The sum of the 2010 pay package -- $11 million -- is so large that it has shocked some within the credit union industry.

Read the story here.

1 comment:

  1. Even the local Bank President has to blush at the MAUS shakedown. It is criminal and borders on extortion. MAUS defines the word GREED - When more is not enough. Divide the $11 Million over his years of employment & it still puts him over the top compared to peer credit unions. If "poor ol" Dave was undercompensated all these years why not quit and move on to a higher paying playground? Alas none to be found. He has been fairly compensated his entire career and did not need this over-the-top payout. His aggregate compensation over his 30-yr career will likely exceed $20 Million, an average of $666,000/ yr. For the majority of those years PSCU would have been in a peer group with an average CEO salary of less than $100,000. Looking at his PSCU tenure as a whole, he has and will be substantially over-compensated by at least 300%.
    MAUS makes the WesCorp FCU SIRAVO SERP look like chump change!



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