ANZ signs union deal

By KEVIN TAYLOR

The Finance Sector Union and ANZ have signed a collective employment agreement covering 1900 staff.

Union members yesterday voted to ratify the one-year deal, which includes a 3 per cent pay rise.

Finsec said ANZ staff had been fearful that the bank's new franchising regime might undermine their collective contract, and industrial action was discussed at stopwork meetings.

In July the bank announced a new system creating 23 separate local markets, each operated by a local chief executive.

Finsec said members had wanted a one-year term instead of the two years the bank was seeking. With changes coming from the new system, staff did not want to sign away future negotiating opportunities.

Finsec organiser Geraldine Molloy said yesterday that the ratification vote in favour was 83 per cent. She would not comment further.