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In huge news, we have secured an improved pay offer at CBA after months of negotiations and campaigning!

• For Tier 1 unpackaged employees, this new pay offer represents one of the highest pay rises in the industry, at 13% over three years.
• We’ve also secured significant movement from CBA’s original pay offer, including up to an additional 6.5% guaranteed pay rise for Tier 3 and 4 employees.

View details of the updated pay offer and improved conditions here.

With this new pay offer, along with other improvements we have negotiated, the FSU Bargaining Team has reached in-principle agreement for our new Enterprise Agreement.

This outcome is the result of FSU members standing strong and demanding a better deal.

Thousands of FSU members signed our petition and shared their stories, which were delivered directly to CEO Matt Comyn. With the prospect of FSU action at this week’s AGM and the risk of significant embarrassment for the bank, pressure was mounting for CBA to respond.

This shows that when we stand together through our union, we have incredible power.

All FSU members at CBA have played a crucial role in helping us reach this point. Even with an $11 billion profit, CBA can’t afford to ignore their workers if we all stand together.

What happens now?

For those who had planned to attend our action at CBA’s AGM this Wednesday, this has now been cancelled.

A small delegation will still attend to ask the Board and CEO about important issues at work, including artificial intelligence, offshoring and branch closures.

Your FSU Representatives will also meet later this week to discuss the details of the proposed Enterprise Agreement. The parties will then finalise the necessary drafting before it is put to a vote of all CBA employees (which we expect to occur in the coming weeks).

This is a crucial step in the process to locking in what FSU members have negotiated. We will be holding FSU information sessions to answer your questions about the new Agreement and the ballot process, so keep an eye out for further details.

Congratulations to all FSU members. Together, we’re making a difference!