Thursday, June 4, 2015

A Bronx Cheer for Pentagon FCU

Last year I applauded Pentagon Federal Credit Union for voluntarily publishing the compensation of its CEO and 8 senior managers in its 2013 Annual Report (see commentary).

Unfortunately, Pentagon Federal Credit Union did not maintain its commitment to transparency.

Unlike its 2013 Annual Report, the credit union's 2014 Annual Report does not include compensation information for senior management.

As a result, the credit union's members and taxpayers do not have the ability to evaluate the pay of senior management and to determine if its valuable tax exemption is being diverted into excessive compensation of senior executives.

For failing to publish senior executives' compensation, Pentagon Federal Credit Union deserves a Bronx Cheer.

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