The dispute that raged between ANZ National Bank and Finsec for three months this year has left the finance industry considering its industrial implications.

Over a year ago Finsec launched a campaign that aimed to bring two groups of members from different bank brands together into a cohesive team, to build membership numbers and involvement. After the first round of negotiations earlier this year, Finsec indicated that, based on the bank’s offer, a settlement could not be reached and members moved into unpaid stop work meetings.

A second round of negotiations following these stop work meetings saw some movement from the bank, but no significant movement on key issues that members had identified at the start of the process. So, these negotiations were duly followed by a full day of nationwide strikes. Over 2000 people participated and marches were held in the main streets of many cities and towns.

The third round of negotiations followed and the bank refused to move at all. Rolling strikes across the country immediately followed these negotiations. They lasted for four weeks, closed many branches and proved an exhausting process for everyone. One of these rolling strikes, a two day stoppage by the rural transactions team over their important settlements date, was immediately followed by the bank increasing its pay offer from 3.75% over 12 months to 5% over 16 months.

The campaign, which was the largest in the finance sector for two decades, has achieved strong support from members at both ANZ National brands, as well as widespread public support. 9000 members of the public signed a petition supporting the workers campaign for fair compensation on weekends and evenings.

This change in union culture should be a wake up call for employers in the industry. It shows that members can and will stay unified, active and committed for long periods of time to fight for issues of principle. The campaign has achieved significant industrial wins in terms of its initial goal to win the ‘best of both terms and conditions from the two prior agreements for ANZ and National Banks. However it also did not deliver on some key issues around fair compensation for weekend and evening work, the democracy participation bonus, and coverage.

Union councillors believe that the lessons to be learnt from the campaign for the industry are that common issues shared by finance workers need to be fought on an industry-wide basis. ANZ National members won significant gains through their high membership and unified approach to action. Further wins will require even greater levels of members and activity.

Finsec Campaign Coordinator, Karen Skinner, believes that workers from different banks are going to need to work increasingly closely.
“Issues like performance pay, staffing levels and the rights of unions to organise are being test driven in negotiations here by banks. The lessons learnt from the ANZ National dispute are that we need more collective strength, and that strength comes from lots of unified members, taking action together.”

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