MADISON, Wis. - (01/05/05) -- White collar workers at CUNA MutualGroup have been voting the past two weeks on a proposal to separatefrom the insurer's employees union, the Office and ProfessionalEmployees International Union, Local 39, and form their owncollective bargaining unit within the OPEIU. Results of the ballot,sent by the OPEIU to 351 employees in CUNA Mutual's IT department,are expected to be tabulated Wednesday, sources familiar with theprocess told The Credit Union Journal. The union organized theballot on the rare separation in order to bypass a vote which wouldhave been overseen by federal labor authorities, that could haveentailed a vote first to decertify the Local 39, then reconstituteit as separate bargaining units. Workers in CUNA Mutual's ITdepartment initiated the separation effort because of frustrationover long-stalled union negotiations on a new laborcontract.
-
Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
March 28 -
The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
March 28 -
Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28