Contract Security Account
Open a 2028 Contract Security Account today and be prepared for anything!
Be ready for the next contract negotiation or any unexpected expenses with a high-yield Contract Security Account. Save a little each paycheck with direct deposit into this exclusive savings account from ILWU Credit Union.
The 2028 Contract Security Account has the following features:
- No monthly service fee or early withdrawal penalty
- Earn 4.000% APY* on all balances through December 31, 2024
- Earn 2.028% APY* on all balances after December 31, 2024
- Direct Deposit a minimum of $25 up to a maximum of $300 per week
- A maximum of 3 withdrawals allowed during the contract term
- Dividends accrue and are paid on an annual basis
- Funds must be directly deposited into your account
- "Catch-Up" Deposits up to $18,000 will be allowed within the first 90 days of account opening.**
Why open a Contract Security Account?
- Build your savings balances - Ensure that you are ready for the next round of negotiations.
- Send a message to the employer - Longshoremen will be ready for anything in 2028.
- High-Yield Account - Maximize your savings!
Open your 2028 Contract Security Account today!Visit a branch or call 866.445.9828 to speak to a Member Service Representative. We will be happy to assist you.
*APY=Annual Percentage Yield. APY is 4.000% through 12/31/2024 and based on simple interest. After that, the APY will be 2.028% until maturity. This account matures on 6/30/2028. Dividends are paid annually. Specific terms and conditions apply. Direct Deposit is required to maintain account. Minimum automatic deposit is $25 per week. Maximum automatic deposit is $300 per week. Additional deposits are not accepted. A maximum of three withdrawals are allowed during the life of the account. Making in excess of three withdrawals will result in account closure. **Catch-up deposits up to $18,000 will be allowed within the first 90 days of account opening. All subsequent deposits must be electronic.
All deposits are insured up to $250,000 by the National Credit Union Administration (NCUA).