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NCUA and National Treasury Employees Union Sign 5-Year Agreement
Friday, July 10, 2015 6:45 AM

A new five-year collective bargaining agreement was signed Tuesday by National Credit Union Administration Chair Debbie Matz and National Treasury Employees Union (NTEU) President Colleen Kelley.

According to the NCUA, the agreement modernizes the agency’s pay and benefits program, keeping it competitive with other financial services regulators. Specific elements of the agreement include:

  • Pay caps at all grade levels and more controls over growth in the locality pay adjustments to curb the rate of growth in salary expense;
     
  • Fixed increases in the pay schedules for more predictability in salary growth;
     
  • New telework provisions requiring employees to work from home when the federal government closes; and
     
  • Further refinement in the benefits package that was modernized in the last contract, including an increase to the health benefits subsidy and the NCUA Savings Plan for employees.

According to the NCUA, the agreement was “overwhelmingly approved” by NTEU members. NTEU represents roughly 950 of the NCUA’s nearly 1,200 employees.