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MADISON, Wis. – CUNA Mutual sent its union a revised proposal a few weeks ago, but it appears it falls short in the union’s eyes. The union, the Office of Professional Employees International Union Local 39, has decided the company’s latest revamped proposal will not be brought to its membership for a vote. According to the union, the proposal does not include enough retro pay to satisfy its membership.The union appears to be looking for the full retro pay of the 4% raise union employees would have received last year if a new deal had been reached. The two sides have been without a new collective bargaining agreement since March 31 of last year. CUNA Mutual maintains it already provides its unionized employees with wages and benefits that exceed the market, and that it must bring pay in line in order to remain competitive. The company’s year-end 2004 numbers show assets are up from $12.8 billion to $14 billion, though revenue was up only narrowly from $2.4 to $2.5 billion. Net income came in at $136 million.

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