The Finance Sector Union is encouraging members and the public to get behind the push for better banking by talking to their local candidates ahead of the election.

Finance Sector Union National Secretary Leon Carter said that it was an important opportunity for workers and customers to discuss their concerns about banking behaviour in Australia, especially off shoring, and hear what local candidates’ policies are to address it.

“The workers at Bedford Park know that the work they do is the first to be sent off shore by banks more interested in profits than local workers and their communities.  We know they want their local candidates to stand up for Australian jobs by putting an end to off shoring,” Leon Carter said.

“The Labor Government has listened to the community and sought to increase regulation in certain areas but we believe it is also critical to address the links between bank and finance workers’ remuneration and sales targets on credit products.

 “With the levels of debt stress in the community at record highs we need to see the Government focused on greater regulation that values professional services over sales volumes in the finance sector,” Leon Carter said.

The FSU’s Better Banking Charter calls for:

Commitment from Government and banks to stop offshoring jobs and invest in developing skills in the Australian financial sector. (90% of public support and 93% workers support)

Government regulation to prohibit or significantly limit the extent to which performance can be measured by sales targets linked to selling debt products in the finance sector. (79% of public support and 90% of workers support)

Regulatory requirement for banks to demonstrate a direct link between their fees and charges and customer service provision. (82% of public support and 82% of workers support)

 “The community, our financial sector and our economy would be much better off with the implementation of these reforms to create better banking for everyone.

This election finance workers, like the rest of the community, have a choice. As their union we are fighting for their rights at work and are also working with them to gain commitments from all candidates for a better banking agenda. Better banking is about a better deal for all Australian consumers and commitments to allow bank workers to work in an industry that values their skills,” said Mr Carter.

Event: Finance sector workers will meet local ALP candidates Amanda Rishworth & Annabel Digance at 7 Laffer Drive, Bedford Park from 11.30 am to discuss concerns about job security.

Spokesperson:                         Leon Carter, National Secretary, 0409 946 597
Media:                                     Leanne Shingles, Media, 0423 821 773