It has been an intense couple of weeks, with the financial meltdown triggered in the U.S. now having an impact globally and we’ve seen governments around the world stepping in to underwrite banking systems with taxpayers’ money.

In Australia, good regulation has meant that our banks have been in a better position than those overseas. To further shore up the Australian banking system the federal government has intervened to guarantee wholesale funding and deposits, and stimulate securitisation.

Despite this intervention, FSU members are still feeling the strain, facing takeovers or fear of takeovers, as rumours abound and speculation of further takeovers of regional banks is regularly reported in the press.

Your union has been making sure your voice is heard as governments and regulators look to our industry. Our lobbying efforts and public commentary has been to call for conditions to be attached to the taxpayer funded underwrite to protect finance sector jobs, a commitment to retaining competition in the banking industry and mandatory adherence to responsible lending practices, such as those set out in FSU’s Charter of Responsible Lending.

FSU is calling on government and regulators to make our financial system even better during this crisis and to do that they must listen to and address issues that have long been raised by finance employees.

The best protection you can provide for yourself during these turbulent times is union membership. Join FSU today, to protect your rights at work.