OE Federal Credit Union processes all vacation pay for your Local Union. Vacation Pay on deposit at the Credit Union that is not accessed at least onetime within a 12-month period becomes “dormant” and subject to escheatment. State Law requires all accounts that do not have member contact in a three or more year period to be turned over to the State.
If you’ve worked under a Labor Agreement that was eligible for Vacation Pay but never accessed your OE Federal Vacation account, please contact the Credit Union today at (800)877-4444. In order to keep your account active, OEFCU needs to hear from you as soon as possible.
NOTE: If you access your OE Federal account on a regular basis (or at least once per year) this State Law does not apply and no action is required.