Credit Union's Staff Pact Puts Value on Merit

By ARI PAUL

Workers at the U.S. National Credit Union Administration have their first collective-bargaining agreement, the National Treasury Employees Union announced Dec. 12.

COLLEEN M. KELLEY: A deal to build on.

The main advances for the 744 employees were merit-based pay raises, the right to seek an alternative work schedule, and the opportunity to receive bonuses if they do a significant amount of work-related travel.

Merit Hikes Up to 8%

"A key provision in the new contract provides significant merit pay increases to employees who perform well: the top 25 percent will receive increases of 8.25 percent; the middle 50 percent will get a 4.5-percent increase and those rated at least fully successful in the lower 25 percent will receive a 2.75-percent increase," a union statement said. "Additionally, the pay 'bands' of employees will be increased by 4 percent the first year of the contract and 2 percent over each of the next two years, which will help to alleviate pay compression issues. About 20 percent of NCUA employees have reached the top of their pay bands."

The contract took three years to negotiate. It will be in effect for the next three years.

"Negotiating an initial contract at an agency which is unfamiliar with the benefits of an engaged workforce is always tough but these were particularly difficult negotiations," NTEU President Colleen M. Kelley said in a statement. "It took some time, but we now have a concrete agreement that we can build on in the future."

The NCUA oversees and insures Federal and state credit unions. The average salary for an NCUA worker is $72,964, according to the union.