IAMAW Lodge 1120 : About the IAM

Copyright 2000 "LL1120" All rights reserved
Finances
Bonding of all financial officers is required by IAM constitution. Careful use of unions funds is the basis of all disbursements. Initiation fees and dues are determined by membership vote of each local subject to minimum standards set by the delegates at conventions. Minimum dues rate is based on two hours' wages per month. Financial reports on receipts and disbursements are mailed to each local each month. Twice a year the international union books are audited by certified public accountants. A copy of their full report is mailed to each local union. District and local union books are audited quarterly and the results at membership meetings. Unemployed members receive unemployment stamps in lieu of regular dues stamps. Withdrawal cards are issued to those who advance above the position of working foreman, those who leave the IAM's jurisdiction and those who enter the armed forces. Transfer agreements are maintained with 14 major unions permitting members to transfer to or from those organisations without payment of initiation fee. Retired cards issued to retired members at a one-time cost of $5. Exemption cards are issued for those parially or wholly disabled members with 30 years or more membership Life Membership Cards with diamond pin are issued for those with 50 years consecutive membership or more.

Finances

Bonding of all financial officers is required by IAM constitution. Careful use of unions funds is the
basis of all disbursements.

Initiation fees and dues are determined by membership vote of each local subject to minimum
standards set by the delegates at conventions. Minimum dues rate is based on two hours' wages
per month.

Financial reports on receipts and disbursements are mailed to each local each month. Twice a year
the international union books are audited by certified public accountants. A copy of their full report is
mailed to each local union. District and local union books are audited quarterly and the results at
membership meetings.

Unemployed members receive unemployment stamps in lieu of regular dues stamps.

Withdrawal cards are issued to those who advance above the position of working foreman, those who
leave the IAM's jurisdiction and those who enter the armed forces.

Transfer agreements are maintained with 14 major unions permitting members to transfer to or from
those organisations without payment of initiation fee.

Retired cards issued to retired members at a one-time cost of $5.

Exemption cards are issued for those parially or wholly disabled members with 30 years or more
membership

Life Membership Cards with diamond pin are issued for those with 50 years consecutive membership
or more.