Service & Solidarity Spotlight: Beneficial State Bank Workers Ratify Second Contract; 9% Raises

Working people across the United States regularly step up to help out our friends, neighbors and communities during these trying times. In our Service & Solidarity Spotlight series, we’ll showcase one of these stories every day. Here’s today’s story.

Members of Communications Workers of America (CWA) locals 9412 and 7901 who work at Beneficial State Bank locations up and down the West Coast have ratified their new collective bargaining agreement.

The bargaining unit includes bankers, consumer loan servicing representatives, loan processors, underwriters, file clerks and custodial staff. Workers first organized in 2020 as part of CWA’s Committee for Better Banks. Their latest contract included wins like an average 9% general pay increase—and a wage differential for Spanish speakers—a higher employer 401(k) contribution match and more paid time off.

“Ratifying a second contract is a huge win for us. In a time when so many workers are facing uncertainty, we’re proud that we secured continued improvements to our wages and benefits with no givebacks,” said bargaining committee member and Beneficial State Bank Commercial Banking Associate Michele Hunt. “Our contract has helped us hold Beneficial State Bank accountable to the workers who keep this bank running.”