MADISON, Wis. Members of the Office and Professional Employees International Union Local 39 voted yesterday to ratify a new three-year labor contract with CUNA Mutual Group.
Key elements of the agreement include increases in wages of 3% for each of the three years as well as increased incentive plan payouts for leading performers; changes to pension and post-retiree benefits, including freezing the current defined benefit plan and replacing it with a cash balance defined benefit plan, and modifications to health insurance offerings and premiums.
The contract covers about 700 of a total 1,750 employees at CUNA Mutual’s Madison offices.
“Reaching an agreement of this sort during these economic times was difficult, but working together was key, and both teams were determined to achieve results” said Debra Eveland, business representative for OPEIU Local 39. “The union looks forward to continuing a working relationship with the company.”
“Union leadership and the company worked hard in the past two months to reach agreement on a contract that reflected both sides’ most important issues,” said David Sargent, chief human resources officer for CUNA Mutual. “Our company has a goal of being an employer of choice who provides good-paying jobs, strong benefits, professional growth and development, and opportunities for employees to make a difference for the customers we serve and the communities where we live.”
