AmeriServ Financial Bank, the banking subsidiary of AmeriServ Financial (ASRV), and United Steelworkers Local 2635-06, have agreed to a four-year contract. Unionized employees voted to accept the contract at a meeting held on October 12, 2025. This contract covers the workforce through October 16, 2029. Key financial terms of the new contract include annual wage increases of 4% for each of the first three years and 3% for the fourth year.
AmeriServ CEO Jeffrey Stopko said: "This new agreement allows us to continue focusing on our banking for life strategy while enhancing our unique labor partnership to further develop our strategically important union business development initiatives."
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.