Major US bank becomes first to have a unionized branch
investmentnews.comWells Fargo & Co. is now the first major US bank to have a unionized workforce.
Workers at a Wells Fargo branch in Albuquerque, N.M., voted 5-3 Wednesday to join the Communications Workers of America’s Wells Fargo Workers United, in an election overseen by the National Labor Relations Board. Employees at a Wells Fargo branch in Bethel, Alaska, are scheduled to vote Thursday on joining the union. Both branches represent a tiny fraction of the bank’s overall workforce, but are meant to spur momentum for a broader union drive.
The Washington-Baltimore News Guild, which is affiliated with the CWA, represents employees of Bloomberg Law.
The Albuquerque vote comes as Wells Fargo faces a growing union campaign in its branches and call centers. Branches in Daytona Beach, Fla., and Atwater, Calif., have separately petitioned to join the union, and union organizers expect more requests in the coming months.
Workers around the country have been advocating for improved wages and working conditions, including the ability to better push back against aggressive sales tactics and other violations that have dogged Wells Fargo for years.
The Wells Fargo branch in Albuquerque has eight members in its bargaining unit and the Bethel branch has five, making up a tiny fraction of the bank’s 4,355 branches and approximately 227,000 employees nationwide.
Wells Fargo has consistently maintained it will fight the unionization effort. Wells Fargo President and CEO Charles Scharf said at a Senate hearing this month he believes the bank works best when management has a direct relationship with its workers, rather than having to negotiate with a union. He faced questions on the union drive from Senate Banking Committee Chairman Sherrod Brown (D-Ohio).
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