In two days, the National Credit Union Foundation (NCUF) collected $15,000 to help credit union people affected by the recent tornadoes in the Southeast.
NCUF activated it online disaster relief system, CUAid, on Saturday.
“Visiting the affected areas and talking to credit union officials and members really drives home the human toll an event like last Wednesday’s tornadoes have on our communities,” says Patrick La Pine, president/CEO of the League of Southeastern Credit Unions & Affiliates (LSCU). “I am heartened by the response of our credit union community and the human spirit in responding to this tragedy which will have a lasting impact on the region for years to come.”
While most Tuscaloosa credit unions survived last week’s tornadoes unscathed, some weren’t as fortunate. DCH Credit Union closed last Thursday and Friday after suffering damage to the front of its building, LSCU reports, but offered shared branching to its members.
The credit union reopened Monday at noon using generator power, and resumed normal hours on Tuesday.
Many hospital employees, who account for a big portion of DCH’s membership, count on the credit union to access their money after payday.
“This really saved our hospital employees who had no other banking options,” Amy Price, DCH marketing director, told LSCU.
DCH also set up a mobile center in the cafeteria of the hospital to help members access their accounts and emergency loans up to $500. DCH processed $125,000 worth of these loans.
Two DCH employees also lost everything they had in the tornado. The Southeastern Credit Union Foundation is working to assess their needs.
Alabama Credit Union is offering affected members loan extensions and interest-free loans up to $1,000, and is waiving loan payments. Tuscaloosa Credit Union is working with the Southeastern Credit Union Foundation and the Tuscaloosa Housing Authority to try to help 116 families whose homes were destroyed.
NCUF developed CUAid in cooperation with state credit union foundations, state credit union leagues, and the CUNA’s Disaster Preparedness Committee in 2006.
Next: NCUA activates disaster relief policy
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