Vacation Savings

Expanded Direct Deposit Options for Vacation Savings

Historically, Vacation Savings direct deposit was only available to members with an MCL Credit Union account. Now, this option has expanded—members can have their Vacation Savings directly deposited into any financial institution of their choice.

If you are interested in taking advantage of this new option, you must update your banking information in My150 by 11:59 p.m. on January 3, 2027:

1. Open your My150 app and tap “Profile” in the bottom right corner of your screen
2. Select “My Bank Information”
3. Enter your alternate bank information
4. Click “Allocate Funds” – Please note, this must be selected to complete the update

If you’d like to keep receiving your Vacation Savings the same way as before, no action is needed.

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Vacation Savings Benefits are paid to members whose contracts include this benefit. Vacation savings is an hourly amount paid to members by their employer and is included in their gross wages. This amount is taxed then deducted by the employer and forwarded to the Fund Office.

Contributions received from employers January 1 through December 31, representing the work months of December through November, are accumulated for each member. At the end of the year all accounts are reconciled, and the monies are paid out. The payout occurs the fourth Monday each January.

In accordance with the Fund Trust Agreement, contributions received for the work months of December 2025 through November 2026, will be paid on January 25, 2027. There are three ways to receive your Vacation Savings Benefit:

1. By mail – Checks are sent automatically. You do not need to do anything. If you move, please make sure that the Fund Office has your current address before December 31^st. You can verify and update your address on My150 (www.my150.com).
2. Direct deposit – You may have your Vacation Savings Benefit deposited directly into your bank account on file. Direct deposits will be credited on January 25, 2027.
3. Pick up in person – The process for picking up your vacation savings check has been modified. If you wish to pick up your check, you must submit a request to the Fund Office no later than January 4, 2027. Your check will be available for pick up by appointment only on Wednesday January 27, 2027. If your check is not picked up by the end of business day on Wednesday January 27^th, it will be mailed to you on January 29^th. You must provide a valid photo ID with an address matching the Fund Office’s records. Please note the member is the only person who may pick up a vacation savings check.

Your current Vacation Savings balance and contribution details may be found on your My150 (www.my150.com) account under the My Hours tab. If you have any questions regarding your Vacation Savings, please call the Vacation Savings Department at 708-937-1741.

Each year there are numerous Vacation Savings checks either not mailed or returned because of incomplete or old mailing addresses on file. To change your address, please visit My150 (www.my150.com) and click on ‘My Profile’. Your updated address will be disseminated across all Local 150 organizations (except ASIP and the Credit Union).