Momentum Credit Union’s final offer rejected by union

Employees vote to take strike action

Momentum Credit Union employees in Hamilton, Brampton and Oakville rejected the Ontario company’s final offer for a five-year collective agreement.

The vote came after three months of negotiations.

In a statement the Canadian Office and Professional Employees Union (COPE) Local 343 said the employer refused to address several key issues unless the union agreed to eliminate post-retirement benefits and terminate its defined benefit pension plan. These eliminations would affect six employees, all but one of whom are approaching retirement.

According to the union key issues the employer refused to discuss included consistent paid holidays for all employees, pro-rated sick leave for part-time employees and fair, consistent classifications and wages for all employees.

“Our members determined that the concessions they were facing and their employer’s failure to address their concerns left them with no alternative but to take strike action for a fair collective agreement,” the statement read.

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