Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON-As an independent agency, NCUA does not have to comply with the 2% pay raise cap that President George W. Bush instituted for civilian federal government employees in 2004, according to the agency’s Director of Public and Congressional Affairs Cliff Northup. An Aug. 28 article in the Washington Post reported that the president took advantage of a loophole in the 1990 Federal Employees Pay Comparability Act, designed to make federal employees’ pay comparable to the private sector, to rein in federal pay raises. Though NCUA is not bound by the administration’s proclamation, “we’re going to keep it in mind,” Northup said. On Oct. 10, NCUA will hold a public briefing on its budget, which presents, among other matters, proposed aggregate employee salary and benefit changes for the upcoming year. Bush blamed the war on terrorism for his decision; otherwise discretionary spending and federal employment could take the hit, the Post reported.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.