The operations and service selection of S-Bank will expand as it merges with LocalTapiola Bank to form a new S-Bank at the beginning of May 2014. At the same time, S-Bank Ltd’s employees will transfer from the Collective Agreement for the Commercial Sector to the Collective Agreement for the Financial Sector.

When S-Bank, the first store-based bank in Finland, began its operations six and a half years ago, the employer and employee organisations agreed that S-Bank observes the Collective Agreement for the Commercial Sector. At that time, it was also agreed that agreement negotiations will be relaunched if the bank’s service selection expands.

In the negotiations between the Finnish Commerce Federation, the Service Union United PAM, Trade Union Pro and the Federation of Professional and Managerial Staff (YTN), started in last December, the planned structure operations and product selection of the store-based bank were assessed. The negotiations have now been completed, resulting in an agreement prepared by the parties in mutual understanding.

“We reviewed the original agreement, and on the basis of this, we decided that S-Bank Ltd will start applying the terms and conditions of employment for the financial sector as of 1 May 2014 as the bank’s product selection expands to mortgages, for instance. This will affect approximately 240 employees: experts, managers and directors,” says Anna Lavikkala, Labour Market Director at the Finnish Commerce Federation.

There will be no changes with regard to the personnel of S-Asiakaspalvelu Oy, a subsidiary of S-Bank, and the personnel working at the customer service points (so-called information points) of S Group’s retail cooperatives. The Collective Agreement for the Commercial Sector will be applied to these positions in the future, too.

For further information, please contact: 

Anna Lavikkala, Labour Market Director, Finnish Commerce Federation, anna.lavikkala(at), tel. +358 (0)400 406 088

Juha Ojala, Chief Negotiator, Service Union United PAM, juha.ojala(at), tel. +358 (0)50 584 1488.

Antti Hakala, Director, Financial Sector, Trade Union Pro, antti.hakala(at), tel. +358 (0)40 533 7413

Lotta Savinko, Vice President, Federation of Professional and Managerial Staff (YTN), lotta.savinko(at), tel. +358 (0)40 504 4356