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Teamsters Begin Withdrawing Funds From KeyBank Over Strike at Oak Harbor Freight

Pension and Welfare Funds Being Transferred

WASHINGTON, Jan. 29 /PRNewswire-USNewswire/ -- Teamster local unions across the country have informed KeyBank ofCleveland, Ohio, that they intend to end their financial relationship with the bank. KeyBank and its parent company, KeyCorp, are the primary lender for Oak Harbor Freight, based inAuburn, Washington, where more than 600 Teamster members have been on strike for the past four months.

In a letter addressed to local unions fromFlorida toWashington, Teamster President Jim Hoffa asked that they contact KeyCorp immediately and begin the process of transferring their business to a comparable service provider.

"KeyBank, which operates branches in several states, is playing a critical role in the ongoing dispute by providing funds that allow Oak Harbor Freight Lines to survive," Hoffa said.

Teamsters started bargaining for a new contract withOak Harbor in October 2007 and so far the union negotiators have met with management over 25 times. Union members went on strike on September 22, 2008 to protestOak Harbor's violations of American labor laws. This is the first strike in the five decades that Teamsters have represented employees of Oak Harbor Freight.

It is estimated that local Teamster unions and sister unions maintain approximately $18 billion in assets through KeyCorp and its subsidiaries.

"KeyBank doesn't want to helpWashington families," said Al Hobart, International Vice President for the Western Region. "Our members have been forced to strike becauseOak Harbor, the company they've devoted their lives to, has committed numerous Unfair Labor Practices and by their actions have shown their lack of social conscience toward their employees."

The International Brotherhood of Teamsters was founded in 1903 and represents more than 1.4 million hard working men and women inthe United States,Canada andPuerto Rico.

SOURCE International Brotherhood of Teamsters