CBA Member Update February Wrap Up

Friday, 9 March 2018

Celebrating a SUPER year

12 months ago the Commonwealth Bank acknowledged that their long held practice of not paying superannuation on additional hours of work was wrong. Since then 36 000 current and former employees have received a share of $22 million of unpaid superannuation and entitlements.

This amount was calculated up to 30 June 2017. Further repayments will be made from July 1 2017 up to the introduction of CBA’s new Payroll system in coming days.

As with the first tranche of repayments the FSU expects the same detail and quality of assessment on employees unpaid superannuation and leave entitlements, we expect this to take a few months from the introduction of the new pay roll system.

New Payroll System

As mentioned above CBA will introduce a new payroll system in coming days.

The FSU hopes that the introduction of this new system will iron out problems that have previously plagued the old payroll system.

We encourage all members to check their first few payslips and report any problems to HR Direct in the first instance.

Branch Closures

Last week CBA notified the FSU have 5 branches to close across NSW and Victoria.

  • Guyra, NSW
  • Rylstone, NSW
  • Collaroy Plateau, NSW
  • Yea, Vic
  • Keilor, Vic

By closing these branches CBA has abandoned these communities. FSU members in these branches know that banking is an essential service – especially in rural communities.  If you work in one of these branches, this announcement means a period of uncertainty for you and your community.  It also means the prospect of potentially needing to find new work in areas where jobs may be scarce.

FSU members are concerned about how these closures will impact on their customers in local communities.  In many cases, bank customers cannot travel to the branch in another town so will lose access to banking services.

If you and your community have been impacted by branch closures or believe that your branch or community could be next we want to hear from you. Contact us at

Comminsure Sale

The FSU continues to advocate on members behalf as part of the Comminsure sale. With such a complex transaction we are ensuring members rights are respected through this period. We have secured some policy commitments from AIA including 10 paid domestic violence leave, a condition AIA did not previously have.

We are reviewing some further information in relation to members who are on the Defined Benefit Superannuation Scheme. We will be arranging to discuss with them the current proposal from CBA and hear their concerns.

Authorised By: Julia Angrisano, National Secretary

Authorised by Julia Angrisano, National Secretary