JOHNSTOWN, Pa., May 23 /PRNewswire-FirstCall/ -- AmeriServ Bank, the
banking subsidiary of AmeriServ Financial, Inc. (Nasdaq: ASRV), and United
Steelworkers (USW) Local 2635-06 have agreed to a two-year contract
extension. Unionized employees voted overwhelmingly to accept the extension
at a meeting held on Tuesday night at Aces Lounge in Johnstown. The
contract is extended until October 2009. The previous contract was
scheduled to expire this October.
The ratified contract extension is positive news for AmeriServ and the
community, according to AmeriServ President and CEO Allan R. Dennison.
"We have one focus here and that is to be the best bank in our
marketplace," said Dennsion. "Yesterday's vote is great news for everyone
here at AmeriServ. It's clear we are united in moving AmeriServ forward as
a strong community bank that can make a difference in our region."
USW Local 2635-06 Unit President Bob Gilles agrees on the importance of
the new extension to AmeriServ Financial.
"The approved agreement indicates to me that our membership believes in
AmeriServ's potential to improve our community, and to provide a satisfying
career," Gilles said.
Terms of the contract extension remain the same as the prior contract
with the exception of a 2.0% wage increase in the first year, and a 2.5%
increase in the second year. USW represents 61% of the AmeriServ Bank
workforce.
SOURCE AmeriServ Financial, Inc.
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Related links:
http://www.ameriservfinancial.com/
CONTACT:
Jeffrey Powers of AmeriServ Financial,
+1-814-533-5139
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