Contract Security Account
The 2022 Contract Security Account is designed to help you maximize your savings and prepare for the next contract negotiation or other unexpected expenses. ILWU Credit Union is the only financial institution that offers this kind of account for longshoremen and their families.
The 2022 Contract Security Account has the following features:
- NO monthly service fee or early withdrawal penalty
- NO minimum balance to earn dividends
- Earn 2.022% APY1 on all balances
- Deposit a minimum of $25 up to a maximum of $200 per week
- Only 3 withdrawals can be made during the length of the Union Contract
- Dividends accrue and are paid on an annual basis
- Funds MUST BE directly deposited into your account2
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 2022.
- Earn 2.022% APY1 - Maximize your savings!
Open your 2022 Contract Security Account today!
Come in to one of our branch offices or call 866.445.9828 to speak to a Member Service Representative. We will be happy to assist you.
1APY=Annual Percentage Yield. APY is 2.022% and based on simple interest. Rate subject to change without notice. Specific terms and conditions apply. 2Direct Deposit is required to maintain account. Initial automatic deposit to open account may not exceed $200. Minimum automatic deposit is $25 per week. Maximum automatic deposit is $200 per week. Additional deposits are not accepted. Three withdrawals allowed for life of account. Making in excess of three withdrawals during the life of the account may result in account closure.
All Deposits are insured up to $250,000 by the National Credit Union Administration (NCUA).