WASHINGTON (5/9/14)--Severe weather, including tornadoes and flooding in the South and Midwest, is being monitored by the National Credit Union Administration, which is prepared to assist affected credit unions.
During natural disasters, NCUA works with state regulators and state league organizations to ensure all federally insured credit unions are aware of the agency's available assistance. Agency examiners remain in close contact with credit unions affected by a disaster to offer advice and provide material and technical assistance, as needed.
NCUA reminds that low-income credit unions may apply for emergency assistance through the Urgent Needs Initiative for grants up to $7,500 to cover expenses related to natural disasters or other unexpected adverse events. The grants provide funds to these credit unions to repair damages or replace equipment in order to restore services to members.
For more information about Urgent Needs Grants, use the resource link.