Interest-free lockout loans – Chicago Teachers Union

Map of UCU locations offering lockout loans
Written by Publishing Team

The mayor’s shutdown of teachers in the counterterrorism unit has imposed additional economic hardship on members who are already grappling with the wide range of hardships caused by the pandemic. To help cushion the blow, the AFT and CTU are offering interest-free loans to any member who has lost their salary as a result of their closure.

Who qualifies for the loan?

  1. Must be an active member of the Chicago Teachers’ Union (CTU).
  2. An active CTU member must complete and submit Form A, showing their respect for the job procedure.
  3. The applicant must be a member of the United Credit Union (UCU).
    • An initial deposit of $25 is required to open an account and can be part of the loan disbursement.
  4. He must have lost his salary due to the closure of Chicago Public Schools on January 5, 6, 7 and 10, 2022.

When do I apply? How much is the loan and how do I repay it?

United Credit Union will accept applications beginning on Tuesday, January 18, 2022 and ending on Friday, February 4, 2022. Loan amount is $480. The loan has an interest rate of 0%. The member will be reimbursing through payroll deduction with effect from Friday 11 February 2022.

How do I receive the application package?

I have questions about applying for an insurance loan. Who can I ask?

Where do I send loan questions that are not application related?

You can send an email to the membership department of the CTU or the accounting department.

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