Northwest Carpenters Vacation Plan

Participation and Eligibility 

Summary

This section describes when you are eligible for the Northwest Carpenters Vacation Plan and how you enroll in the plan. This section also describes how your hourly contributions are transferred to Qualstar Credit Union and how those contributions are available to you once transferred to Qualstar.

Topics Discussed in This Section

Introduction

The Northwest Carpenters Vacation Plan is a savings-type account for participants who work in covered service for participating employers. Current bargaining agreements require employers to deduct $1.00 (Washington participants) and $1.50 (Oregon participants) from your hourly wage for each compensable hour. Vacation Plan contributions are reported by your employer to Northwest Carpenters Trusts with your other fringe benefit contributions and then transferred to your personal account at Qualstar Credit Union. Once your contributions are transferred to Qualstar, those contributions are available to you at any time.

Participation

You participate in the Vacation Plan any time you work for an employer who is signatory to a collective bargaining agreement recognized by the Board of Trustees that calls for contributions to this plan.

Enrollment

You are automatically enrolled in the Vacation Plan with Northwest Carpenters Trusts. However, you must complete a Qualstar Membership Card to be enrolled with Qualstar. Once enrolled with Qualstar, Qualstar will send you information about your new account and about other products and services available from Qualstar. A new Check Card is also included for easy access to your account at automatic teller machines (ATMs). Qualstar will also deduct $5.00 from your first deposit. This $5.00 is used to purchase your membership shares in Qualstar and will be returned to you when your account is closed. If you do not enroll with Qualstar, Northwest Carpenters Trusts will continue to transfer your vacation contributions to a temporary account in your name at Qualstar. At your request (by telephone or in writing), Qualstar will return these contributions to you. No dividends are paid on these temporary deposits. If you do not enroll or if you do not claim these funds within three years, Qualstar will return the funds to Northwest Carpenters Trusts. Northwest Carpenters Trusts will attempt to locate you to payout your account balance. If you work in another jurisdiction under Money Follows the Carpenter, contributions to the Vacation Plan may or may not be part of your benefit package. If vacation contributions are part of the benefit package, those contributions are not forwarded to Northwest Carpenters Trusts (your home trust). You must contact the away trust for information about vacation contributions.

Hourly Contributions

Your Vacation Plan contributions are made through a payroll deduction process. Your employer deducts $1.00 (Washington participants) or $1.50 (Oregon participants) from your hourly wage for each compensable hour as required by the collective bargaining agreement. Your contributions are then processed by your employer, Northwest Carpenters Trusts, and Qualstar as follows:

  • At the end of each month, your employer computes the total number of hours you worked for that month and then forwards the appropriate contributions to Northwest Carpenters Trusts. These contributions are due at Northwest Carpenters Trusts by the 15th of the month following the month you worked.
  • When Northwest Carpenters Trusts receives your contributions, your contributions are electronically transferred to your account at Qualstar Credit Union on the first Wednesday following receipt of your contributions.
  • Qualstar processes your contributions and then posts them to your account. These contributions are generally available to you on the evening of the transfer to Qualstar or on the following morning.

If your contributions are not available after this processing cycle, or if there is a discrepancy in the contribution amount, please contact Northwest Carpenters Trusts. Northwest Carpenters Trusts will help you resolve any employer reporting issues.

Your account balance at Qualstar is the sum of all hourly contributions received from Northwest Carpenters Trusts plus any dividends posted to your account by Qualstar. Dividends are posted to your account monthly.

Qualstar Credit Union

Qualstar Credit Union was established in 1952 and merged, in 1997, with the Washington Trades Credit Union. This merger gave Qualstar a significant labor presence in the Pacific Northwest. Qualstar currently serves the employees, members and residents of more than 300 unions, companies and communities in the Pacific Northwest. The Board of Trustees entered into a contractual agreement with Qualstar Credit Union on March 1, 2001 to provide you with greater convenience and easier access to your Vacation Plan benefits.

The Board of Trustees and Qualstar agreed to strict privacy guidelines regarding the use of information related to your Qualstar account. That means information provided to Qualstar is used exclusively for the administration of Vacation Plan benefits.

Qualstar Credit Union currently has four physical branch locations in the Puget Sound area - in Everett, Federal Way, Renton, and Tacoma. Branch information is available in the member packet sent to you by Qualstar and on the Qualstar website. Qualstar also participates in the Co-op Shared Branch network giving you additional access to more than 5,000 credit union branches across the country.

Branch Hours

Monday - Thursday 9:00 a.m. through 5:00 p.m. PST
Friday 9:30 a.m. through 6:00 p.m. PST

Telephone Hours

Monday - Friday 7:30 a.m. through 6:00 p.m. PST
(800) 848-0018

Website

www.qualstarcu.com

Dividends

Your account at Qualstar earns the same interest rates earned by other checking-type accounts at Qualstar. Please see your new member packet for details.

Withdrawls

When your Qualstar Membership Card has been returned to Qualstar, you may make withdrawals from your account as often as you like. Your account is available to you 24 hours a day as follows:

  • Visit one of the four branch locations to make a withdrawal in person.
  • Call (800) 848-0018 to request a check. The check can be mailed directly to your home.
  • Call the 24-hour automated "Telephone Teller" to request a check. The check can be mailed directly to your home.
  • Use "Home Banking" to request a check. The check can be mailed directly to your home.
  • Use your Visa Check Card wherever Visa is accepted.
  • Use your Visa Check Card to make automatic teller machine (ATM) withdrawals. Qualstar also participates in the Co-op Shared ATM network giving you additional access to more than 30,000 surcharge-free cash machines across the country.
  • Order personal checks to access funds in your account.

There is no monthly service fee on your Qualstar account and there is no minimum balance required. Qualstar does not charge you to use any of their automatic teller machines (ATM) at their branches. There may be a service charge at non-Qualstar automatic teller machines (ATM).

Qualstar will send you a monthly statement showing your account activity. You can also use Qualstar's 24-hour "Telephone Teller" or their free "Home Banking" service to verify your account balance.

Income Tax

Vacation Plan contributions are after-tax amounts deducted from your wages. Therefore, you have no further tax obligation on those contributions. However, all dividends paid to your account are considered taxable income. Qualstar will provide you with a 1099 Interest form by January 31 of each year. This form lists your interest earnings from this account for the preceding year.

Contributions and dividends to your Qualstar account are considered "earned income." Therefore, the Internal Revenue Service can garnish these wages to pay back taxes. A lien can also be placed on the money for other reasons such as child support. No withdrawal can be made when these restrictions are imposed.

Beneficiary Designation

When you enroll with Qualstar, you may designate a "joint account owner" on your Membership Card. The "joint account owner" will have equal access to your Qualstar account and will have an interest in all other services provided to you under your account. You may also designate someone other than your "joint account owner" as the beneficiary of your account. Qualstar will provide you with the appropriate forms. If you do not designate a "joint account owner" or beneficiary, the life insurance beneficiary named under the Northwest Carpenters Health and Security Plan will be the beneficiary of your account.

Last Updated: 04/20/2023