The Finance Sector Union was founded in July 1991 when the two main unions in the banking and insurance industries - the Australian Bank Employees' Union (ABEU) and the Australian Insurance Employee's Union (AIEU) voted to amalgamate and create the FSU.
Three smaller unions also linked up: the AMP Society Staff Association, Trustee Companies Officers' Association and Wool Brokers' Staff Association. In March 1994, the FSU was further strengthened when the Commonwealth Bank Officers' Selection (CBOS) joined with the FSU.
In response to an unprecedented level of upheaval in the Australian finance industry during the late 1980s and early 1990s, the unions that represent finance industry employees united to form the FinanceSectorUnion[FSU], now the fifth-largest union in the country.
The FSU was founded in July 1991 when the two main trade union players in the banking and insurance industries - the Australian Bank Employees' Union [ABEU] and the Australian Insurance Employee's Union [AIEU] voted to amalgamate and create the FSU.
The FinanceSectorUnion is registered with the Australian Industrial Relations Commission and is affiliated with the Australian Council of Trade Unions.