Employees at Wells Fargo branches in Bethel, Alaska, and Albuquerque, New Mexico, have initiated efforts to unionize. They filed a petition on Monday with the National Labor Relations Board to hold elections for joining the Communications Workers of America’s Wells Fargo Workers United.
Only 1.3% of finance sector workers belong to unions, compared with 10% of the overall U.S. workforce, according to the Bureau of Labor Statistics.
It’s not just tellers who want to organize. Sabrina Perez, a senior premier banker with nearly a decade at Wells Fargo in Albuquerque, said the decision to unionize stems from a desire to reshape Wells Fargo’s culture into one that values both workers and customers equitably and respectfully.
The move towards unionization gained momentum amidst operational challenges for banks that began during the Covid-19 pandemic. In Bethel, Wells Fargo and First National Bank of Alaska are the two main banks, and Global Federal Credit Union also has a branch in the town of 6,400 residents.
Earlier this year, Wells Fargo Workers United’s push for shareholder support in recognizing employees’ rights to organize and form unions received 36% backing.
The unfolding scenario in Bethel may signal a shift in the traditionally union-averse finance sector.
