ALEXANDRIA, Va. (5/2/14)--Grants are available to help credit unions impacted by recent storms repair their facilities and restore their operations, the National Credit Union Administration reminded on Thursday.
The four days of storms, which hit much of the Southeast, Mid-Atlantic and Northeast, and parts of the Midwest, threw off an estimated 79 tornadoes and created floods of historical proportions from Florida to La Guardia.
Low-income designated credit unions may apply for up to $7,500 in grant funding to pay for repairs and fix or replace damaged equipment through the agency's Urgent Needs Initiative. The fund is supported by the Community Development Revolving Loan Fund and is administered by the NCUA's Office of Small Credit Union Initiatives. It provides grants to help restore operations and fix facilities damaged by natural disasters and other unexpected events, but the agency accepts applications for the initiative year-round.
For the full NCUA release, use the resource link.
Credit unions are one group that can play a critical role in helping communities recover after disaster strikes. Agility Recovery this week gave tips on how preemptive steps taken by credit unions and other organizations can help.
Use the resource link to access the News Now article: Expert shares disaster preparedness advice with CUs.