August 14, 2026 — High-stakes conciliation appears to be off the table for now as a contentious standoff between the Banking, Insurance and General Workers Union (BIGWU) and the Board of Directors of Works Credit Union continues to escalate. The legally sanctioned industrial action has entered its third week, maintaining a total shutdown across all branches—including the Tobago branch—just 24 hours ahead of the credit union’s crucial 67th Annual General Meeting (AGM) scheduled for Saturday, August 15.
Core Issues Driving the Impasse
The industrial action, which began in late July, centers on stalled collective bargaining negotiations for the 2023–2025 period:
- Wage Disparity: BIGWU is seeking a 15% wage increase across the three-year bargaining period, while management’s counter-offer has remained at 2%.
- Four-Year Wage Freeze: Union leadership highlighted that frontline staff have not seen a salary adjustment in over four years, despite rising living costs and the institution’s ongoing expansion projects.
- Dispute Over Priorities: BIGWU President Don Devenish argued that the institution has channeled capital into external financial ventures and facility upgrades while neglecting the fair compensation of the employees who generate and safeguard its revenue.
Showdown at the AGM
With ministerial intervention now underway to bridge the divide, tensions remain high as the union confirmed that striking members will attend tomorrow’s hybrid AGM. Workers intend to bring their grievances directly to the broader membership on the floor, demanding accountability and fair compensation from the board.
Tobago Updates reporter Jewel Greene-George has the full details on the ministerial conciliation efforts and branch disruptions.
