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Colliers / Waikato Times
Heartland Bank pays below market rates, First Union says.
Unionized workers at Heartland Bank in Auckland are on strike after failing to achieve a “significant” increase in wages.
Heartland Bank has made headlines in recent weeks after it slashed its home loan rates below those of the big banks. The strike comes just months after Heartland Bank became a certified living wage employer.
Tali Williams, First Union’s finance and retail secretary, said Heartland was paying striking staff below market rates.
“The negotiation with Heartland has been complicated and the members are taking strike action after participating in good faith since their agreement expired in June this year,” Williams said.
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Keira Billot, Head of Culture and People at Heartland Bank, said: “Heartland has negotiated with First Union members in good faith and is disappointed that the negotiations have led to a strike.”
The union had about 23 members in Heartland out of a total of 550 employees, Billot said.
Williams said: “This is not an action to be taken lightly, but Heartland workers have grown weary of being taken for granted and paid 20 to 30 percent less than the industry average. on all bank brands “.
The bank had not offered a cost-of-living salary increase this year, Williams said.
Other banks, including ABS, ANZ, Westpac and BNZ, all of which were also living-wage employers, had offered pay raises to their staff this year, Williams said.
“We are just asking for an increase in the cost of living,” Williams said. “We are not asking for a 20 percent increase.”
Billot said the bank had given its workers the equivalent of a 3 percent pay raise by changing the way it structured KiwiSaver.
And he said: “We have recognized the efforts of our employees this year in the form of a recognition payment of at least $ 500 to those who were with Heartland prior to June 1, 2020 to recognize the extra effort our people made during a challenging year. “
Inflation, measured by the Consumer Price Index, is 1.4 percent, according to Stats NZ.
The union and the bank clashed because the bank cut interest rates.
Williams said: “Heartland has made headlines recently for offering the lowest mortgage rate in New Zealand, but it is clear that internal workers are paying for it.”
But Billot said the launch of the bank’s new home loan rate was due to its ability to digitize the loan process.
Union members said their jobs had escalated due to the Covid-19 pandemic and many felt undervalued and underestimated, Williams said.
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Negotiations with the company had been ongoing since May, Williams said.
Heartland Bank became a Living Wage Accredited Employer in July
At the time, Billot said: “We realize the importance of people having access to remuneration that can be adapted to them fairly, which will lead to a better quality of life and greater opportunities.”
“Our people are the most important part of who we are. Becoming a living wage accredited employer was the right thing to do for our Heartland whanau and helping to make a positive difference for New Zealanders. “
Living wage is currently $ 22.10 per hour.
