Credit Union Australia (CUA) is using the cover of the Covid-19 pandemic to cut jobs and close branches.
Two branches are closing, in Maryborough, Qld and Corrimal, NSW. CUA will also relocate work from its Sydney hub to Brisbane. All up 25 jobs will be lost with little or no opportunity for staff to redeploy.
Wendy Streets from the Finance Sector Union of Australia said CUA's decision was a disaster for both CUA staff and members who will receive reduced services, inconvenience and less choice.
"On top of walking away from negotiating a new Enterprise Agreement, now CUA are closing branches, reducing services and worst of all moving towards redundancies," Ms Streets said.
"There's a cliché about 'never wasting a good crisis', and CUA certainly aren't wasting this COVID pandemic. This is a cynical and opportunistic ploy by CUA using COVID-19 as excuse to bolster their bottom line."
"There's no question about CUA senior management and the Board of Directors taking pay cuts or reducing their fees and as usual it is their workforce who are bearing the brunt, a workforce that has made CUA a highly profitable company."
Ms Streets said both branches will close on 21 August 2020.
Five staff are affected at Corrimal, NSW and three at Maryborough in Qld.
The CUA Sydney hub will close two departments and move the work to Brisbane. Deposits and payments & credit assessment will move which equates to one team leader and 16 staff who will be made redundant if they do not wish to redeploy to Brisbane.
A week ago CUA told its staff they would not receive a pay increase this year.
"CUA's decisions on pay and job cuts are an insult to staff who have worked hard over the past four months under extremely difficult circumstances to ensure members were being looked after."
