Originally Posted by
Verdell
Without knowledge of the actual history of the bank, I would guess that the current setup was a tit for tat with the company. The company would love it for pilots to be able to hoor themselves out, union said no (thank goodness for that.) Yet, the union wanted a bank. A compromise was reached, and both the company and the union wanted to put guardrails on its functionality. Union side is to limit withdrawals. Company side is to limit contributions. And the bank was born.
I'll just make stuff up. The bank was for when Green slips were paid in gold backed cash notes and we needed a way to store them until we could hire security to retrieve the gold because paper green slips were seen as inflationary and had no value long term. The gold guy was the signatory on the side letter and the bank was actually a physical vault at each pilot base. Hence the exorbitant expense and refusal to open additional pilot bases.
/sarc/ ...in case this wasn't obvious
Sh!tposting is my new favorite sport!