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2.4% pay offer from SCU. Is it fair?
The FSU Worker Council has expressed strong disappointment with SCU’s 2.4% pay offer tabled at this week’s enterprise agreement negotiations.
SCU’s initial offer of 2.25% was immediately knocked back prompting SCU to revise its offer. The 2.4% pay rise proposed by SCU falls way short of FSU’s claim of 3.5%.
The Worker Council and FSU reps will now consult with members on this latest offer and obtain feedback before the next meeting on 6 September 2016.
The FSU’s claim of 3.5%  is a fair proposal particularly in light of what members in other credit unions have got recently in their enterprise bargaining  and in line with SCU’s own assessment of its performance as stated in its 2015 Annual Report.
“Net profit after tax was ahead of expectations for the year and we expect the steady growth to continue into next year.
Total assets grew to $810.31 million. Member equity of $74.13 million and a very strong risk-weighted Capital Adequacy Ratio of 17%.
SCU capital adequacy exceeds the 4 major banks, leaving SCU well placed to invest in its future and develop product and services for our members in the years ahead.” (SCU 2015 Annual Report)
$100 Uniform Allowance increase
On a positive note, after considering the member feedback, SCU has revised its $50 increase to Uniform Allowance offer to $100.
Let us know what you think a fair pay offer would be...
  • 2.4%
  • 3%, or
  • 3.5%
If you have any questions or would like more information please contact FSU Organiser, Ola Hamed on 0434 160 521 or one of the following FSU Worker Council members:
  • Maureen Hayler – SCU Clarence Street Sydney
  • Steven Stanceski – SCU Mobile Lender
  • Sally Brown – SCU Blacktown
  • Parveen Singh – SCU Marrickville
  • Julie Bowd – SCU Blacktown
Not a member yet? Join online today at www.fsunion.org.au or talk to your FSU Workplace Rep.
Contact Details
Ola Hamed
Ph: 0434 160 521
Mob: 0434 160 521

Authorised By: Rebecca Reilly, NSW/ACT Acting Local Executive Secretary
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