Matz Releases Statement on Federal Pay Freeze

Wednesday, January 05, 2011 10:17:00 AM

Yesterday, NCUA Chairman Debbie Matz released a statement that the agency will apply the Jan. 1, 2011 federal pay freeze approved by Congress and signed into law by President Obama to those agency employees whose salary increases were not negotiated under existing union contracts. The freeze is aimed at all civilian federal employees that are not military personnel. Matz, in her statement said, "This pay freeze affects federal workers whose salary increases were not negotiated under existing union contracts. NCUA will certainly honor the pay freeze for all affected employees - and we will reduce our budget accordingly."

According to Matz, NCUA will report the cost savings shown in July when the NCUA Board conducts its annual mid-year budget review. The pay freeze would not apply to any increases that are based on collective bargaining agreements between employee unions and their management that were executed before the Presidential order. The NCUA pay increase is one of these agreements.

NCUA told CUNA News Now on Tuesday that "217 of its employees will be subject to the pay freeze. A total of 894 union employees will not be subject to the terms of the pay freeze, according to the agency."
 

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