News release

December 21, 2007

First collective agreement ratified at Bank of Canada

OTTAWA – The first group of workers to organize a union at the Bank of Canada has ratified a collective agreement after almost two years of hard bargaining.
More than 30 security officers at the Bank of Canada voted in favour of accepting a tentative agreement that, among many other improvements, includes:

1. a 3% wage increase effective January 1, 2008;
2. a job evaluation review of the security officer position to be completed by June 1, 2008;
3. joint consultation processes, including participation in the Bank's Health and Safety Policy Committee; and
4. a clear grievance and arbitration procedure.

“Negotiation with this employer wasn’t easy,” says Rhéal Charron, a member of the bargaining team. “However, with union recognition, we won a victory. That should bring in a new culture of labour relations in the workplace.”

Negotiations began in January 2006 between the Bank of Canada and the Public Service Alliance of Canada (PSAC), but the workers sought conciliation in July 2007.

“These 34 workers at the Bank of Canada are certainly deserving of this victory,” says Ed Cashman, the PSAC regional vice-president for the National Capital Region. “They are the first group of workers to organize a union at the Bank, and they fought hard for two years for a collective agreement. For PSAC, this first group of workers means the union has its foot in the door.”

The collective agreement expires on December 31, 2008.

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For information:  Ed Cashman, PSAC REVP-NCR, (613) 297-1924
                             Rhéal Charron, bargaining team member, (819) 790-3837

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