ALEXANDRIA, Va. (July 7, 2015) – National Credit Union Administration Board Chairman Debbie Matz and National Treasury Employees Union President Colleen Kelley today signed a new, five-year collective bargaining agreement.
The agreement modernizes the employee pay and benefits program, keeping it competitive with the other financial services regulators as required by law. The agreement also incorporates additional cost controls, such as pay caps at each pay grade.
“Two of my goals as NCUA Chairman have been to foster labor-management cooperation and make NCUA an employer of choice,” Matz said. “This agreement meets those goals. It respects and responds to the needs and concerns of management and employees and is a commitment by both to work together to continually improve the working environment. At the same time, it reflects both sides’ recognition of the need for budget prudence.”
“NTEU and its bargaining team worked hard to achieve significant gains in the new collective bargaining agreement,” Kelley said, “including enhancements to employee compensation programs, such as increased health insurance contributions and travel benefits. Additionally, NTEU was able to secure important workplace improvements, such as expanded telework and a better performance evaluation process. I am confident this new agreement will benefit current NCUA employees and heighten NCUA’s ability to attract and retain highly qualified employees in the financial sector.”
NTEU members overwhelmingly approved the agreement.
“Our employees are our most important asset,” Matz said. “I am very pleased the contract received such strong support from the NTEU membership. I look forward to continuing our productive relationship in the years ahead.”
NCUA and NTEU negotiated 30 articles and agreements on major topics including employee pay and benefits, travel expense reimbursement, training, promotions, employee rights, employee telework and leave, and health and wellness.
The agreement also makes revisions to the employee travel reimbursement program by recognizing needed changes in light of the increasing overnight staff travel required due to the declining number of local credit unions. The agreement will streamline administrative and reporting processes to maximize employee and management productivity.
“Thanks go to both bargaining teams for their hard work, dedication and creativity in addressing the issues facing NCUA and our employees,” said John Kutchey, NCUA’s chief negotiator.
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.
NTEU represents approximately 950 of NCUA’s nearly 1,200 employees and about 150,000 bargaining unit employees in 30 federal agencies and departments.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share
Insurance Fund, insuring the deposits of account holders in all federal credit unions and the overwhelming majority of
state-chartered credit unions. At MyCreditUnion.gov, NCUA also educates the public on consumer protection and financial literacy issues.