The NCUA will work with federally insured Louisiana credit unions affected by the recent severe flooding to help protect consumers and ensure continuity of services, the agency said Tuesday. Louisiana credit unions are already reaching out to the credit union community as a whole for assistance.
The NCUA is closely monitoring the situation to determine the operating status of credit unions in the flooded areas. During natural disasters, NCUA works with state regulators and state league organizations to ensure all federally insured credit unions are aware of and can utilize NCUA’s available assistance.
Under the agency’s disaster relief policy NCUA will, when necessary:
Low-income-designated credit unions affected by flooding can apply for up to $7,500 in Urgent Needs Grant assistance to repair damage or restore services to members. Any credit union needing NCUA assistance should contact its primary supervisory examiner.