The National Credit Union Administration board approved a plan last week to cut agency expenses by nearly $3 million and to slash about 40 positions over the next couple of years.
Most of the savings will come through eliminiating jobs through attrition, said Bob Loftus, director of public and congressional affairs.
Karl T. Hoyle, the agency's executive director, spearheaded the plan. He said the reductions will "cut the fat and not any muscle."
So far this year the agency has saved about $645,000 by not filling 11 positions in its regions, Mr. Loftus said. These positions will be eliminated.
11 More Jobs Going, Too
By the end fo the year, NCUA experts to save $541,000 more by eliminating another 11 positions through attriction, Mr. Loftus said.
These cuts include examiner and administrative stff, Mr. Hoyle said.
Over the next year the agency plans to cut $1.8 million from expenses at its Alexandria, Va., headquarters. About $1.1 million of the savings will come from cutting about 20 positions at its headquartBrs, mostly through attriction.
The remainder will come from nonpersonnel expense cuts, including about $200,000 of anticipated rents the agency expects to receive from leasing space.
The plan also includes transferring employees. Among the changes:
* Bob Pompa, deputy director of human resources, will become director of the newly established Training and Development Office, which will comprise training personnel now in other offices.
* Dan Buckley, loss and risk analysis officerl, will be named acting director of the Office of Administration.
* Controller Herb Yolles will be named director of the Department of Risk Management.
* Phil Crider, director of risk management, will be named director of the Department of Supervision.
* Alonzo S. Swann, director of supervision, will be named associate director for the agency's Midwestern region.
* John Walters, Midwestern associate regional director, will become controller.
Mr. Hoyle said the reshuffling was done to widen employees experience and to increase the representation of women and minorities in high-level jobs.
Mr. Hoyle said Norman E. D'Amours, the agency's chairman, charged him with stream-lining the agency late last year. A Clinton appointee, Mr. D'Amours has said cutting the agency's staff and budget was one of his top proirities.
As the number of credit unions to be regulated has dropped over the years, trade groups clamored for cutbacks at the gency.
Plan Wins Industry Praise
Trade group representatives said they are pleased with the regulator's plan.
"We think this is the prover-bial step in the right direction," said Patrick Keefe, spokesman for the Arlington, Va-based National Association of Federal Credit Unions.
Mark Wolf, spokesman for the Credit Union National Association, said the reorganization involved "real savings," adding that representatives of the Madison, Wis., trade group wanted to meet with the agency to discuss the changes further.
