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A union for the finance sector

Caroline Taylor
22nd March 2021

Every sector benefits from an acting trade union that represents their best interests. This is no less true for the finance sector in the UK. Community support workers in finance through a commitment to fairness and respect. Suppose you are joining the white-collar workforce in a bank, a fintech company, the life insurance sector, or a specialist support firm. In that case, you may benefit from joining a specialist finance sector union like Community.

We know that professionals with skills in the finance sector already understand the importance of ensuring fair pay and securing professional advice. In this article, I’ll take a closer look at how workers in this sector benefit from union support and what services they can rely on.

What is a finance sector union?

Trade unions in the finance sector protect the rights and interests of workers employed in various financial institutions. This includes banks, investment firms, specialist support, insurance companies, and even real estate firms.

The UK financial sector contributes over £132 billion to the UK economy per annum.

In the aftermath of Brexit, the financial sector especially became a cause for concern for many, and in particular those working in the sector. Now more than ever, financial workers can benefit from the advice, support, and services offered by Community.

The benefits of joining a finance sector union

Community aim to support the thousands of employees building careers in the financial services sector. We act as a collective voice and network that campaigns for better working conditions both nationally and locally.

Finance sector unions can negotiate with employers on vital issues such as pay, working time, leave, and health and safety. But they also provide professional advice and support on issues facing individual members, ensuring that each union member is treated fairly in their workplace.

The essential services finance sector unions provide include:

  • Support with equalities issues
  • Help with negotiations and communications with employers in case of a dispute
  • Professional and legal advice on an individual basis
  • Training and development, including life skills like leadership and communication as well as health and wellbeing

Alongside legal advice and support and the continuous fight for fair workplaces, finance sector unions can offer multiple additional benefits to their members:

  • Discounts and savings. Community has a range of discounts for members. This may include car, home, or health insurance and include discounts on tickets to family activities or even retail stores and restaurants.
  • Social activities and networking. Being a member of a union means being part of a community with social events and activities. This is an excellent opportunity for employees to network within their sector and meet like-minded industry professionals.

Should I join a finance sector union?

If you are an employee in the finance sector, it is often a good idea to join a union in your field. Finance sector unions have succeeded in securing longer holidays and increased pay and continue to stand by our members when issues in the workplace arise. Community work constructively with employers to get the best deal for you.

I would urge any financial professional to consider joining Community to take an active part in shaping your future and protecting your rights. You can find out more about our work in the sector here.

Caroline Taylor is National Secretary at Community with responsibility for the finance and professional sector.

You can join Community here.