Line staff at the St Johnโs Cooperative Credit Union will enjoy an 8% salary increase following the completion of negotiations between the Antigua and Barbuda Workersโ Union (ABWU) and management of the St. Johnโs Cooperative Credit Union.
The salary increase is outlined in a new Collective Bargaining Agreement which will cover the period 1 January 2021 โ 31 December 2023. The agreement makes provision for a lump sum payment in the first year, followed by a 5% salary increase in the second year and a 3% increase in the final year.
Another highlight of the agreement is the harmonization of the company’s retirement age with Social Securityโs pensionable age. The line staff will also have an early retirement option beginning at age 60.
Industrial Relations Officer at the ABWU, Fernando Samuel, is thankful to the management team of the Credit Union for an โinteresting round of negotiations.โ Samuel underscores the importance of maintaining vibrant communication. โWe had an impasse on certain items but Iโm happy that we were able to conclude on amicable grounds. Although these [negotiations] can be contentious matters, we believe that frequent dialogue minimizes friction, so we encourage more communication,โ Samuel said.
General Manager of the St Johnโs Cooperative Credit Union, Jennifer Whyte, described the negotiations as an โimportant processโ that required a lot of forward planning and strategizing.
Whyte is pleased that both sides were able to arrive at an agreement that is beneficial to all the parties involved. โAs long as we have the best interest of the organization and the employees at heart it’s always a win-win. Itโs always a good end,โ Whyte stated.
Both parties, along with line staff representatives affixed their signatures to the new Collective Bargaining Agreement on 24 February 2022.
The Antigua and Barbuda Workersโ Union also represents the Supervisory and Confidential employees at the Credit Union. These negotiations are near completion and a further report will be provided.
