(PRESS RELEASE) – The Management of 1ST National Bank St. Lucia Ltd and the National Workers Union (NWU) will affix signatures shortly to their first industrial agreement.
The Bank and the Union met at two (2) negotiating sessions and agreed to the following:
• 8.5% general wage increase to over two hundred (200) employees spread over four (4) years.
• A regime of fringe benefits including Paternity Leave and Transportation, Mileage, Meal and Dinner Allowances as well as Additional Responsibilities.
The financial institution has agreed to continue its customary benefits, profit sharing and incremental movements based on appraisals done.
A general meeting will be held for all the employees next week during which the NWU will roll out all the provisions in the industrial agreement.
The Bank and the NWU have agreed to supervise the implementation of the collective agreement in its entirety.