A report to members on the union's finances

UAW Secretary-Treasurer Elizabeth Bunn. Photo: GEORGE WALDMAN

The UAW has faced many challenges over the past year.

A continuing decline in U.S. manufacturing jobs has had a significant impact on our membership. Our nation's failed health care system and flawed trade policies have severely affected many of our members, especially those affiliated with the domestic automotive industry. Meanwhile, workers who want to become UAW members still face considerable obstacles that interfere with the basic right to organize.

As a consequence, the UAW has made difficult decisions in order to maintain a solid financial structure, and we remain steadfast in our commitment to our members.

As a UAW member, your investment of two hours' pay every month in dues not only earns improved pay and working conditions, but secures a foundation for the union to continue advocating on behalf of all working people.

This financial report provides information about the union's financial position. Among the highlights:

• The union's total fund balance at the end of 2006 was $1,216,655,332.32.

• Total income in 2006 was $255 million, while total expenses were $259 million.

• In June of 2006, delegates to the UAW Convention approved changes to the UAW Constitution. As a result, approximately 50 percent of all dues collected since June of 2006 went to local unions, 5 percent went to the Strike Assistance Fund, and 45 percent went to the International Union's General Fund.

• Overall active and retired membership stood at 1,151,170.

• During 2006, organizing drives brought 57 new bargaining units, accounting for 26,011 potential new members.

• Approximately 4,600 UAW members went on strike or were locked out in 2006, and they received over $17 million from the union's Strike Assistance Fund, which pays for weekly benefits, medical assistance, and other expenditures.

The following is a summary from UAW Secretary-Treasurer Elizabeth Bunn in Adobe PDF format. The full report is available for examination at all local unions.