CREDIT UNION PROVISION. As a deduction from the wage rates listed in the Schedule "A" attached hereto, the Employer shall pay into the appropriate credit union, effective June 1, 2002, a sum equal to one dollar ($1.00) per compensable hour paid for each Laborer covered by this Agreement. Such payments shall be made monthly on or before the 15th of the month following that for which the contribution is being made and shall be deposited in a Bank or Banks delegated to accept the other funds listed in this Article.
CREDIT UNION PROVISION. Effective January 1, 2008, the parties agree that in addition to the wage rates provided for in this Agreement, the Employer shall pay into a credit union $1.00 per hour worked for each Xxxxxxxxx and Millwright covered by this Agreement. The amount has been included in the base wages listed in the SCHEDULE A 1. CLASSIFICATIONS, WAGE RATES AND The purpose of these contributions is to create individual share accounts in the Credit Union for each Xxxxxxxxx covered by this Agreement. The details concerning the administration of the Credit Union shall be as stated in their charter and bylaws, and any amendment thereto which may be approved by the National Credit Union Administration. Neither the Employer Association nor individual Employer, nor the Union shall participate in the administration of said Credit Union. It is understood that the Employers will make these contributions on the same transmittal forms as are used for the other fringes. The pro-rata cost of such forms, and the collection and accounting thereof will be deducted from the contributions and be paid to the fringe benefit administrator. The balance remaining will be credited to the individual share accounts. It is further understood that all payroll taxes shall be deducted from the gross pay and then $1.00 shall be held out of the net pay and shall be reported as stated above. It is further understood that the charter and bylaws of the designated Credit Unions will be amended to extend membership to all Carpenters covered by this Agreement. In order to eliminate onerous book and record keeping burdens on all parties, Employers will make contributions to each of the funds by means of one check and one report to include all funds. Pro-rata costs of the report forms will be paid by the funds equally. The Fund Administrator and the depository bank working jointly will distribute the contributions as outlined in the report and this schedule. In the event an Employer fails to make the required monetary contributions in conformity with Sections 1, 2 and 4 of this Article, the Union may take any economic action necessary to insure the proper collection of these contributions. Severe penalties for delinquencies are provided in the Trust Agreements.
CREDIT UNION PROVISION. It is agreed that all Employers working within the geographic area covered by this Agreement shall subtract a sum, as listed in Schedule “A” from each employee’s net pay check (after taxes), for each hour worked by its employees performing work covered by this Agreement regardless of Union membership. Said contributions shall be made to the appropriate affiliated credit union. Contributions will be made on the same form as Health & Security payments and the pro-rata cost of such forms and the collection and accounting thereof will be paid by the Union to the fringe benefit administrator.
