TAYLOR, Mich. - (02/10/06) A handful of union employees atTaylor Community CU staged an informational picket outside thecredit union Thursday to protest the continued labor negotiations.Representatives of the Federation of CU Employees, local 4473, saidthe two sides were deadlocked over the issue of how much thelocals 23 employees should pay for increases in the healthinsurance premiums. Liz Duhn, spokesman for the union, said theyhad come to a tentative agreement for a multi-contract with 2%raises but healthcare issue is paramount. The latest offer from thecredit union would require employees to pay 51% of any increases inpremiums, with no cap, according to Duhn. That has thepotential to be devastating, she told The Credit UnionJournal, estimating a proposed 15% rise in premiums will cost theaverage employee $260 a month. Phillip Matous, president of the $50million credit union, acknowledged their request to have employeesshare in increased health care costs, but said until now the creditunion has paid 100% of health insurance premiums. He said hebelieves that position is neither unfair orunreasonable.
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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