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October 18, 2012
To: Retirees, Alternate Payees & Beneficiaries Receiving Monthly Pension Benefit Payments
From: Southern California IBEW-NECA Trust Funds Administrative Office
Re: Change of Commercial Banking Vendor
Recently, the Board of Trustees of the Southern California IBEW-NECA Pension Trust Fund decided to change the Fund's commercial banking vendor from US Bank to Amalgamated Bank for purposes of reducing costs and improving service.
This change will mean that beginning November 1, 2012 monthly pension benefit payments made by means of a check mailed to you or funds electronically transferred to your account will be issued on a Pension Fund benefit account at Amalgamated Bank. This change may impact your ability to cash, deposit or have available for use payments issued by the Pension Fund.
Therefore, you are urged to contact your bank well in advance of November 1, 2012 in order to eliminate any potential banking issues.
As always, if you may have any questions regarding the above mentioned, please feel free to contact the Administrative Office at (800) 824-6935 or (323) 221-5861 between the hours of 9 a.m. & 5 p.m., Monday through Friday or via the website at www.scibew-neca.org.