DETROIT — The UAW last year began to recoup strike funds lost in 2019's 40-day walkout at General Motors and also recovered tens of thousands of dollars improperly spent by a disgraced ex-president.
The union's net income rose more than 10 percent to $12.7 million last year, and overall net assets rose slightly to $1.13 billion, according to an annual financial report filed Wednesday with the Department of Labor.
The UAW said its strike fund rose to $790 million in 2020 following the GM strike, which cost it $80 million. The union said the coronavirus pandemic had some financial advantages, with travel expenses down $3 million and meeting expenses off $1.5 million.
Membership dipped slightly to 397,073 in 2020, from 398,829 in 2019.
"The UAW managed a very difficult pandemic year reporting steady membership numbers and weathering pandemic shutdowns," President Rory Gamble said in a statement. "The membership reported on the LM-2 is literally a snapshot of the number of members for whom the UAW received dues during the month of December. We believe actual membership is higher when you account for members who were still sidelined during the pandemic in December and the timing of payroll and dues remitted by our local unions around the holiday shutdown."
The latest membership figure is encouraging given the union's yearslong corruption scandal that has eroded worker trust.