Workers at a Wells Fargo & Co. branch in Albuquerque, N.M., voted 5-3 Wednesday to unionize, a first for a major U.S. bank. They will join Wells Fargo Workers United, affiliated with the Communications Workers of America.
“This historic vote at Wells Fargo signals a turning point. It demonstrates the collective strength and resilience of workers, even in traditionally non-union sectors, and is a testament to what can be achieved when employees stand together for common goals,” said Angelo Di Cristo, Head of Finance for UNI Global Union.
The union aims to address issues like understaffing, low pay, and mismanagement, and advocate for better wages and benefits for Wells Fargo employees. In an industry notoriously hostile to unions, bank workers at a Daytona, Fla., Wells Fargo branch who are organizing to join CWA filed for an election with the National Labor Relations Board. This comes on the heels of November’s dual filings by Wells Fargo workers in Albuquerque, N.M., and Bethel, Ala. According to Axios, currently only approximately 1 percent of all bank employees nationwide enjoy the benefits of union membership.
Bank employees at the Daytona branch cited understaffing, wages which haven’t increased in five years, and poor benefits packages as the impetus for unionizing.
The union win marks a groundbreaking moment for Wells Fargo Workers United-CWA’s nationwide union drive and financial services workers’ rapidly growing fight for a seat at the table.