Boeing Machinists Strike - So What Does Boeing Employees Credit Union Do?

[BlooInBloo]

They make things just a little bit easier for them! I really heart my credit union.

http://www.becu.org/default.asp?pid=whatsnewdetail&ID=1088

"In response to the International Association of Machinists Workers strike, BECU has activated its Member assistance Program. Designed to provide assistance to members adversely affected by an economic event such as a strike, flood, or hurricane, the Member Assistance Program is intended to provide you with the temporary assistance you may need for food, shelter and medical expenses. For the duration of the strike, BECU will offer you the ability to apply for payment deferrals on existing BECU loans, as well as new personal loans to cover your "basic need" expenses. In addition, financial counseling through the Balance™ Financial Fitness Program and educational seminars are also available free of charge to BECU members. The following are the details of the program:

Existing BECU Loan Payment Deferrals:
Deferrals can be made by calling the Member Assistance Hotline at 206-439-5003 or 800-377-2399. Please have your loan account number available when calling the deferment line.

* Deferrals are available for auto, boat, personal loans, Line of Credit, Home Equity, and Equity Advantage Loans. (Deferrals are not available for home Mortgages)
* Loan payment deferrals may be available for the duration of the strike to members who are unable to make the regular payment (s).
"

[RUMMYisFROSTED]

1. Everyone in Washington can join BECU.

Can't they?

[BlooInBloo]

4. Yup - they opened it up to everyone a year or more ago!

And they give 7.5% interest on the first $1000 or something in savings/checking!

[RUMMYisFROSTED]

6. No thanks. I'm busy enjoying my 1.9% @ Big Bank.

Add one to the chore list.

[BlooInBloo]

8. And just to rub it in.....

:rofl:

http://www.becu.org/default.asp?pid=whatsnewdetail&ID=1061

"BECU Remains Financially Strong
posted Jul 15, 2008

A message from Joe Brancucci, BECU Executive Vice President and Chief Lending Officer.

As a result of the news about the failure of IndyMac Bank and the government's support and regulation of Fannie Mae and Freddie Mac, I've have received questions from members regarding the financial health of BECU. I am very pleased to be able to share with you what I told them: BECU has been and continues to be prosperous and financially sound.

Many financial institutions are experiencing very high credit losses from making subprime or "exotic" mortgages (often referred to as "negative amortization" or "Alt A" mortgages). BECU has never offered those products, which we believe aren't the right solutions for our members and have contributed to high losses at other institutions. Additionally, BECU, like all credit unions, is significantly restricted to the types of investments that can be purchased and the financial transactions we can enter. We know it is our members' money we are investing—and we proceed with the utmost caution in every case...."

[RUMMYisFROSTED]

9. Get off my lawn!

[BlooInBloo]

10. (scampers off, giggling)

[dkf]

2. Now THAT is a great reason to be in a credit union.

Good for them.

[gateley]

3. I'm so happy to hear this. Employees being helped. What a concept.

I've got to think Boeing will have to buckle soon, won't it? I heard they're losing zillions of dollars daily.

If you can tell me in an abbreviated way, what was the point that neither side would agree to? The articles I read (albeit, I'm not following it closely) listed a few items that couldn't be agreed upon. Was there a biggie among them?

[BlooInBloo]

5. I'm not certain - I'd have to google around.

[mrs_p]

7. both my gramps and my

husband's granddad retired from boeing. BECU is great to boeing employees and the people of washington. they deserve some props.