FSU members speak out, CFCU revises annual wage offer to 3%!

Members at CFCU are celebrating a win this week with a 9% guaranteed wage increase over 3 years.

FSU members have been negotiating with management for a new Enterprise Agreement at CFCU over the last month. We made every effort pushing management to fair conditions and pay in our new EA – and it’s worked!

During the global pandemic, the credit union requested to defer these negotiations. As a result we went without a wage increase in 2020. We’re finally going ahead – but instead of a fair offer, the credit union initially proposed an annual wage increase of just 2.5%. In addition, their offer only backdated the increase for this year to 1 July 2021.

Members are clear: respect is the only acceptable offer

This offer was put to all members and employees for feedback. The response from members was clear – all CFCU workers deserve a pay increase that recognises our hard work through this year and every year.

We put that message to management: 2.5% just isn’t good enough.

The collective voice of FSU members and CFCU workers resulted in the CFCU revising their annual wage offer from 2.5% to 3%.

The revised offer, if accepted, will lock in a 9% guaranteed wage increase over 3 years.

Congratulations to all who made their voices heard!


The FSU Worker Council believes the revised wage offer is worthy of our consideration. Tell us what you think by submitting feedback here.

The next bargaining meeting is scheduled for 17 November. This meeting will cover the review of CFCU’s classification structure and remuneration framework.