ILWU Credit Union

• What will happen to my Portland Local 8 FCU Certificate Account?
• What will happen to my Portland Local 8 FCU Share Accounts?
• Will an automatic transfer between my two accounts still work?
• Will my account balances continued to be insured?

What will happen to my Portland Local 8 FCU Certificate Account?

All deposits at Portland Local 8 FCU will be automatically transferred to ILWU Credit Union on December 1, 2025. If you have an existing Share Certificate, it will continue to earn the same Annual Percentage Yield until maturity. Depending on the cype of certificate, once the Share Certificate matures it will roll over to your ILWU Credit Union Savings Account or a Certificate with the same term.

What will happen to my Portland Local 8 FCU Savings Accounts?

All deposits at Portland Local 8 FCU will be automatically transferred to ILWU Credit Union on December 1, 2025. Your funds will be deposited into an ILWU Credit Union account with similar features and benefits.

For example, your Regular Savings Account with Portland Local 8 FCU will roll over into an ILWU Credit Union Savings Account. Your Portland Local 8 FCU Money Market account will roll over into the ILWU Credit Union Safe Harbor Money Market account.

We will notify all members with the terms and conditions of their new accounts prior to December 1, 2025.

Will an automatic transfer between two of my accounts still work?

Yes, any automatic transfers that you have set up between your deposit accounts at Portland Local 8 FCU will continue to occur once the merger is complete. If you have an automatic transfer from a Share or Checking account to make a loan payment the payment will continue to be transferred to your loan on the payment due date.

Will my account balances continue to be insured?

Your accounts will continue to be federally insured through the National Credit Union Share Insurance Fund (NCUSIF), and backed by the NCUA, a U.S. Government Agency, to at least $250,000 for regular deposits and $250,000 for IRAs.