Strike Fund Account
Plan Ahead with a Local 804 FCU Strike Fund Account
The contract covering over 350,000 UPS workers expires on July 31, 2023. Although no one ever wants a strike, Local 804 FCU understands it’s never too early to plan ahead for a possible work stoppage. That’s why we created a special Strike Fund Account that earns four times more than our current share rate.
Build your savings through weekly payroll deductions into an account currently earning 0.40% APR* until it matures on July 1, 2023. On that day, we’ll move the money over to your regular share account. Start yours now and you could have some added savings for peace of mind.
Not sure how much to save? A look at your monthly income and expenses can help in setting your savings goal to cover expenses during a possible work stoppage. For full-timers who transfer $50- $100 out of each paycheck, the savings by July 2023 could add up to $2,600- $5,200, respectively. Part-timers who transfer just $25-$50 out of each paycheck could save $1,300 – $2,600. For reference, the 1997 strike lasted two weeks.
If you need help setting up a weekly payroll deduction or have any questions about the Strike Fund Account give us a call at (718) 878-4624.
*APR is Annual Percentage Rate