Wellington, Aug 14 NZPA - Westpac New Zealand has agreed not to offshore work and to endeavour to preserve existing job numbers for a year in a settlement of a collective agreement with the finance workers union Finsec.

The agreement, which was ratified today, gives workers a 2.25 percent wage rise. Finsec said the agreement covers 1800 workers.

The commitment not to offshore work came in the wake of offshoring by New Zealand's largest bank ANZ National.

Michael Wood, Finsec national organiser, said the commitment to keep jobs in New Zealand was a first for the industry.

He said job security was a big issue for workers going into the negotiation.

"We put a claim up in our negotiation to try to get a commitment from the bank to not offshore for the period of the agreement and through the bargaining process we have got them to agree to that," he said.

He expects the commitment to effectively provide better job security for as many as 3500 workers at the bank.

There was also an in principle agreement with Westpac to keep the current number of jobs in the business, said Mr Wood.

"We are committed to listening to our employees and our customers, and acting in the best interests of New Zealand," said Christine Parker, Westpac general manager, people.

"We've also agreed to endeavour to preserve the overall number of jobs in our organisation. We're proud of that commitment," she said.