The Finance Sector Union has welcomed CBA’s move to collectively bargain with the union to reflect their employee’s wishes with a draft agreement that is currently being considered by members.

Finance Sector Union National Secretary Leon Carter said that previously CBA was an enthusiastic user of AWAs under WorkChoices, but that the change to Fair Work Australia had meant that CBA had taken on board employee wishes for a collective agreement negotiated by their union.

“Workers at CBA have wanted a collective agreement to better protect their wages and conditions for some time, we congratulate CBA for coming to the table and more accurately reflecting the wishes of their staff.  

“The one-year agreement would deliver a 4% pay increase to employees who meet or exceed expectations for work during the 2009-10 financial year ,” Leon Carter said.

“Paid parental leave remains at 12 weeks on full pay, and CBA is still considering whether to offer superannuation on unpaid parental leave, in the wake of Westpac and NAB doing so.”

The FSU’s members across the banking sector have benefitted from the change in workplace laws, which give them greater freedom to negotiate collective agreements in an environment that has been traditionally unbalanced in terms of rewards and bonuses.

“Bank workers would be worse off if we saw a return to WorkChoices or similar limiting workplace policies.

“The ability to collectively bargain under the Fair Work Laws gives bank workers the opportunity to enhance wages and conditions across the board, giving the banks’ bonus-driven sales climate less of a hold over the livelihood and income level of their workers.

Spokesperson:  Leon Carter, National Secretary, 0409 946 597
Media:    Anaya Latter, Media, 0432 121 636