MADISON, Wis. - (06/09/05) -- A 15-month labor dispute at CUNAMutual Group appeared near an end this week when the credit unioninsurer and its employees union, the Office and ProfessionalEmployees International Union, Local 39, reached a tentativeagreement on a new four-year contract. The president of the OPEIU,Michael Goodwin, is scheduled to meet later this week with PeterHurtgen, new chief labor negotiator for CUNA Mutual, to hammer outdetails of the pact, which would cover major issues at impasse,including outsourcing of jobs, wages and hours, and pay the union's1,360 members retroactive pay raises going back to the March 31,2004 expiration of the last contract. "We're optimistic that we'regoing to have a contract by the end of the month, ratified andeverything," John Peterson, chief negotiator for the union, toldThe Credit Union Journal. Sydney Lindner, spokesman for CUNAMutual, also expressed optimism that a final agreement is imminent."There is still work to do, and in the near future, CUNA Mutual andOPEIU will resolve the details," she said.
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Strong loan and deposit growth led to a double-digit increase in revenues and an even bigger jump in profits at the Columbus, Ohio-based regional bank.
October 17 -
Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
October 17 -
In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.
October 17 -
Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
October 17 -
Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
October 17 -
Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
October 17