The Confederation of the Nordic Bank, Finance and Insurance Unions (NFU) is an organisation for co-operation between trade unions that organise employees in the banking, finance and insurance sectors in the five Nordic countries. The NFU was founded on 1 January 1999 through the merger of the Confederation of the Nordic Bank Unions (NBU) and the Confederation of the Nordic Insurance Unions (NFU). These were two trade union confederations with a long tradition of Nordic co-operation, the NBU was founded in 1923 and the old NFU in 1944. The new NFU therefore has a solid foundation and a long tradition on which to base trade union co-operation now and in the future.

At present, eight trade unions are affiliated to the NFU, two in Denmark, two in Sweden, two in Finland and one in each Iceland and Norway. Through these trade unions, the NFU represents 165 000 employees on the Nordic financial market. Some 135 000 of these employees belong to the banking sector, while the remaining 30 000 belong to the insurance sector. Approximately 11 000 of the members are currently unemployed.

The NFU and its affiliated trade unions are facing many major challenges with regard to the ongoing development of the sector. One of the main tasks is to safeguard the interests of the members and to improve their opportunities for exerting influence both in their day-to-day work and over issues relating to their long-term future.

NFU's tasks
In the light of the rapid integration and the major structural changes that have taken place on the Nordic finance markets in recent years, an ever increasing degree of co-operation and co-ordination is required between the trade union organisations in the financial sector.

The NFU's task is to promote the common interests of the affiliated trade unions in both a Nordic and international perspective. In order to achieve this goal, priority has been given to the following operational areas:

• Conferences and courses
• Investigation and information activities
• Efforts to influence and inform public opinion
• International co-ordination between the trade unions
• Support in the event of conflicts

In order to increase the negotiating strength of the trade unions, the unions affiliated to the NFU have set up a joint guarantee system for support in the event of conflicts. When the NFU was formed, a special agreement was signed that guarantees financial support totalling SEK 100 million to any NFU trade union involved in a conflict. This support and co-operation will give the NFU trade unions a considerable degree of strength in connection with collective bargaining in the future. Experience with regard to negotiations and negotiating strategies is also continually exchanged between the trade unions.