Congress has passed a two-year wage freeze for executive branch employees but the NCUA said it hasn't decided whether it will adopt it for the agency's employees.
"We are waiting for guidance from the Office of Personnel Management,'' said John McKechnie, the director of agency's Office of Public and Congressional Relations.
The freeze, which applies to all executive branch employees except uniformed military personnel, affects cost of living increases but does not impact increases as a result of promotions.
President Obama proposed the freeze, which had been advocated by congressional Republicans, last month and said it was a part of the government's efforts to cut costs in light of the growing budget deficit.
The freeze, which was part of the bill passed by Congress this week to keep the government running until March, does not apply to independent agencies such as the NCUA, though agency officials can institute a freeze if they want to.
The $225.4 million budget approved by the NCUA for 2011 includes a 6.1% pay raise for employees covered by the collective bargaining agreement. That covers 80% of the agency's employees, and that three-year contract is up for renegotiation next year. The remaining 20% of employees are slated to receive a 3% increase, which was approved by the NCUA Board.