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.
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Execs say other banks are still more of a rival for deposits than the digital currency.
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First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.
September 12 -
The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.
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The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
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City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.
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The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.
September 12