KEY POINTS:

• Finsec members and BNZ held a further day of negotiations on our collective agreement on Wednesday. There was some movement from the BNZ on their offer.
• The offer will be put to a ratification vote of members. Ratification meetings will start next week.

ACTION:

Delegates, please ensure that all staff are aware of the outcome of= bargaining and that ratification meetings will now take place. Keep an eye out for a mail out with more information.

Outcomes from negotiations On 21st September

Bargaining took place on Wednesday, and led to some movement from the BNZ. The bargaining team felt that the movement was good in some areas, but movement in others was not so good. The offer arrived at this week will now go to a ratification vote of members, and includes the following changes:
• The pay offer is 2.75% for year one, and 2.75% for year two. The pay increase in the first year is across the board; however it will not apply to staff with an end of year compliance gate that is red or those with ‘D’ ratings. For the second year the bank will apply its normal process. The percentage increase would be paid to casual and fixed term staff.
• BNZ withdrew their overtime claim, and their claims to make sick leave and union access comply with legal minimums.
• The union council would be recognised in the collective agreement and release days would increase to 80 days per financial year. BNZ would meet half the costs of air travel for forums.
• BNZ agreed to Sunday opening hours being limited to till 7pm.
• The move to grade L for call centre staff would now be optional for existing people, and with the chance to choose again after six months.
• The BNZ withdrew their claims for broadly defined “non-traditional store formats”.
• The BNZ agreed that targets would be reduced to take into account all approved leave.

Offer to go to ratification vote

The BNZ offer will now go to a ratification vote of all members. Some meetings will be run by Finsec organisers and some will be run by delegates. A full mailout with more details on the offer will be posted to all worksites early next week. Ratification meetings will run from 27 September -7 October.

Please email union@finsec.org.nz or call 0800 FINSEC if you have any questions about this update.

From the BNZ Bargaining Team