ACFO received notice on October 16th, 2012 that the Employer has refused our comprehensive final offer to settle the FI collective agreement.
After fourteen months of negotiations and hard work by the bargaining team, a fundamental gap persists between the Employer and FIs.
The Employer believes that below-inflation wage increases of 1.75%, 1.5%, and 2.0% with the removal of voluntary severance is a fair offer. ACFO knows that this pattern settlement significantly undervalues your work and the value of concessions the employer has sought.
The Association also knows that this offer is not acceptable to our membership. Through our electronic survey, committee networks, and individual discussions over the course of bargaining, FIs have given a consistent clear and strong mandate. ACFO will not voluntarily accept less than equitable compensation and benefits for FIs.
ACFO will now take the necessary steps to file and prepare for binding arbitration. Full disclosure of the remaining proposals and supporting evidence will be shared with the membership in advance of the hearing, and regular updates will be posted to keep you advised of our progress.
ACFO is also preparing a guide to the binding arbitration process to provide an overview and timelines for the process.
Your continued support in this matter is appreciated.