Last year, 29 NCUA employees made more than $201,000, anincrease from 25 the year before, according to agency records.

NCUA Executive Director David Marquis was the highest-paid agency employee, with anannual salary of $260,708.

Melinda Love, who was Marquis' deputy for the last severalmonths of 2011 and before that headed the agency's Office ofExamination and Insurance, had the second-highest salary at$260,000. Larry Fazio, who succeeded Love at the helm of the Office ofExamination and Insurance, earned $218,406.

After Marquis and Love, the next three top earners wereInspector General William DeSarno ($250,432), General Counsel Michael McKenna ($249,881) and Office ofConsumer Protection Director Kent Buckham ($246,330).

All of the agency's top earners make more than the NCUA boardmembers, whose salaries are tied to those of members of Congress.NCUA Chairman Debbie Matz earned $165,300 and NCUA Board MembersMichael Fryzel and Gigi Hyland each made $155,500.

Three political appointees are among agency employees who earnedmore than $201,000: Todd Harper, who runs the Office of Public andCongressional Affairs and is Matz's chief policy adviser, earned$234,999. Gary Kohn, senior policy adviser to Hyland, and SarahVega, Fryzel's senior policy adviser, both earned $201,086.

The agency released the information after a request fromCredit Union Times, filed under the Freedom of InformationAct.

For this year, the agency's budget is $236.8 million, a 5.1%increase from 2011. The agency has budgeted $170.8 million on wagesand benefits for this year, a $7.6 million increase over last year.This includes funds for 33 new employees, 26 of which will be forexamination-related positions. The budget funds 1,259.5 full-timeequivalent positions.

Last year's budget was 11% higher than the spending of 2010.

There are 555 FDIC employees who earn $200,000 or more. The FDIChas 5,381 full-time equivalent employees.

The salaries of other financial regulators and policymakersinclude Federal Reserve Chairman Ben Bernanke, $199,700, andTreasury Secretary Tim Geithner, $191,300.

Salaries are set in part by the government civil service rules,although the agency has some discretion over some pay levels.

At press time, the NCUA hadn't responded to questions about itssalary trends and how competitive its salaries are compared withother banking regulators. Several credit union CEOs declinedcomment on the NCUA's salaries but had mixed assessments about howwell the agency was doing its job.

President/CEO Brad Beal of One Nevada Credit Union said his credit union hadmostly positive contacts with the agency.

“We've had a positive relationship with the agency. We've neverhad a problem with the agency, especially the regional examiners,''he said. His Las Vegas-based credit union, which recently convertedfrom a federal to state charter but remains federally insured, hasassets of $661 million.

Kentucky Employees CU President/CEO John Graham said theagency's performance is mixed.

“They've done good things, such as being receptive to thesuggestion that it considers broadening the definition of smallcredit unions,'' said Graham, whose Frankfort, Ky.-based creditunion has assets of $59 million.

But Graham, who represents small credit unions in his region onCUNA's board, was critical of other aspects of the agency'sperformance.

“I hear lots of concern about the constant annual budgetincreases, which are paid for by credit unions. Also, there is thealways increasing regulatory burden. We spend $50,000 on the salaryand training of our compliance officer, and that's money we can'tspend on other things that could help our members,'' he said.

NAFCU President/CEO Fred Becker said even though the agency's spending increasethis year was smaller than last year, the NCUA should do more torestrain spending.

Becker said “any increase is too high, especially at a time whenthe NCUA should be demonstrating greater fiscal restraint, androlling back its budget.”

The NCUA's 950 unionized NCUA employees did not get a pay raisethis year, but did receive a more generous retirement package.

Last year, approximately 200 NCUA employees not covered by theunion contract had their pay frozen, like most federalemployees.

However, those covered by the union contract received a 6.1%increase because that had been negotiated before President Obamaordered a pay freeze in November 2010.