An NCUA board member expressedhis disappointment in a collective bargaining agreement signed on Tuesday between theregulator and National Treasury Employee Union.

J. Mark McWatters said he doesn't know if he can support theterms of the CBA because, as of late Wednesday afternoon, he hadnot received a copy of it.

“As is typical with NCUA these days, the lack of transparencyconcerning the negotiation and execution of the collectivebargaining agreement with the National Treasury Employees Union isdisappointing,” McWatters told CU Times. “I was notprovided with draft copies of the bargaining agreement, was notafforded the opportunity to comment on the agreement during thenegotiation process, and the final agreement was not presented tothe Board for vetting nor for approval or rejection.”

McWatters said he was displeased with the way the collectivebargaining agreement was handled.

“This action demonstrates why budget hearings are critical tothe transparent and fully accountable operations of NCUA. Whilewages constitute the largest line item in NCUA's budget, the Board(or at least my office) was precluded from exercising effectiveoversight in negotiating the new collective bargaining agreement.At an absolute minimum, the Chair should have consulted with theBoard before consenting to bind the Agency for an unprecedentedfive-year term of the contract. Interestingly, I have not yetreceived a copy of the final executed agreement.

McWatters wasn't the only one concerned with the process. CUNAPresident/CEO Jim Nussle said CUNA officials have consistentlycalled for greater transparency in NCUA's budget process.

“The credit union system, which funds almost all of NCUA'sactivities, has no input into or influence over collectivebargaining agreements; therefore, we expect that NCUA willnegotiate a deal in the best interest of credit unions,” Nusslesaid.

The new five-year agreement was hailed as fiscally responsiblyby NCUA Communication Specialist Ben Hardaway.

The agreement spelled out a long list of negotiating terms,including reimbursement for all employees for the cost ofprofessional licenses required as part of their position, largerrelocation sums for employees moving to Washington, continuedreimbursement for lodging for family members during relocationtravel and an increase in pay raises.