In February 1999, three trade unions organising workers in Norway's banking and insurance sectors decided to merge. The three organisations are the Finance Sector Union (Finansforbundet), which organises employees in the banking sector and two unions organising insurance workers - the Norwegian Insurance Employees' Union (Forsikringsfunksjonærene Landsforbund, FL) and Norske Assurandørers Forbund, which represents sales personnel. The Finance Sector Union is the largest of the three unions with 25,000 members. All three are member unions of the Confederation of Vocational Unions (Yrkesorganisasjonenes Sentralforbund, YS), and the new organisation will also be affiliated to YS. The new organisation will be called the Finance Sector Union (the name adopted by the bank employees' union some years ago) and will have approximately 36,500 members.
In February 1999, the first steps were taken in the direction of creating a new trade union for employees in the Norwegian financial sector, when three unions decided to merge. The new organisation, to be called the Finance Sector Union, will have some 36,500 members.
In February 1999, three trade unions organising workers in Norway's banking and insurance sectors decided to merge. The three organisations are the Finance Sector Union (Finansforbundet), which organises employees in the banking sector and two unions organising insurance workers - the Norwegian Insurance Employees' Union (Forsikringsfunksjonærene Landsforbund, FL) and Norske Assurandørers Forbund, which represents sales personnel. The Finance Sector Union is the largest of the three unions with 25,000 members. All three are member unions of the Confederation of Vocational Unions (Yrkesorganisasjonenes Sentralforbund, YS), and the new organisation will also be affiliated to YS. The new organisation will be called the Finance Sector Union (the name adopted by the bank employees' union some years ago) and will have approximately 36,500 members.
The proposal to merge was approved by the three unions during their separate national conferences held in February 1999. The first national conference of the new organisation will take place in November 1999 and the new union will come into operation on 1 January 2000. The new organisation's leader will be drawn from the largest union, the Finance Sector Union, and deputy leaders will be elected from each of the other two unions.
The merger is very much a response to the important changes taking place in the financial sector at present. The division between services traditionally provided by banks and those provided by insurance companies has become blurred, and the financial sector is marked by increasing competition and structural changes in the form of company mergers and other forms of cooperation between banks and insurance companies. Consequently members of the three union organisations often work in the same enterprises. Furthermore, mergers and other structural changes have led to increased challenges for trade unions in relation to co-determination and influence. The Nordic-level organisations for banking and insurance unions have already merged to create a joint Nordic organisation called the Confederation of Nordic Bank, Finance and Insurance Trade Unions (Nordiske Finansansattes Union, NFU).
Another reason for the merger is the substantial loss of members witnessed, especially in the Finance Sector Union, as a result of the crisis experienced in the banking sector early in the 1990s. The organisation had its membership base reduced by almost 25% in the period from 1987 to 1998.
Eurofound recommends citing this publication in the following way.
Eurofound (1999), Three unions to merge in financial sector, article.
