ALEXANDRIA, Va.–NCUA Board Chairman Debbie Matz and National Treasury Employees Union President Colleen Kelley Tuesday signed a new, five-year collective bargaining agreement.
NTEU represents approximately 950 of NCUA’s nearly 1,200 employees and about 150,000 bargaining unit employees in 30 federal agencies and departments.
The agreement modernizes NCUA’s employee pay and benefits program, keeping it competitive with the other financial services regulators as required by law, NCUA stated. 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 approved the agreement, NCUA said.
“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, including employee pay and benefits, travel expense reimbursement, training, promotions, employee rights, employee telework and leave, and health and wellness.
“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.
- 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.