MADISON, WI (September 16, 2019) — Executives from American Heritage Credit Union—based in Philadelphia—traveled to Grand Bahama Thursday on behalf of World Council of Credit Unions to assess the damage to credit unions wrought by Hurricane Dorian.
Bruce Foulke, President & CEO of American Heritage and COO Scott McCaw visited several credit unions in Freeport with Hilton Bowleg, Chair of the Bahamas Cooperative League Limited.
Bruce and Scott visited the main branch of The Grand Bahama Co-operative Credit Union, which is open despite seven inches of water flooding the building during the storm. It is open and credit union staff is conducting business through the use of a portable generator. Several members told Bruce they were very grateful for the credit union reopening, so they could get cash to purchase supplies. But many in Freeport still do not have power, which means credit union members cannot buy a large quantity of food due to lack of refrigeration.
The GBCCU building itself has significant damage to the floor, mold on the walls and furniture that needs to be replaced. Another Grand Bahama Co-operative Credit Union branch located in a shopping center has yet to reopen due to damage.
Teachers and Salaried Workers Co-operative Credit Union in Freeport has also reopened, with a security guard allowing one member at a time in to conduct transactions. Staff is communicating with the main office in Nassau via cell phone to verify balances and conduct business, which is being done with paper vouchers.
Staff at Public Workers Co-operative Credit Union are facing some of the most challenging conditions. Bruce and Scott met PWCCU Manager Ruthie Dorset, who was busy trying to clean up the office. There were visible water lines that reached four feet high—up to the top of their teller counter. Behind the teller counter, the water marks were five-feet high. Despite their generator being elevated three feet off the ground outside, salt water that rose nearly eight-feet high rendered it inoperable. Inside the building, structural damage to the concrete floor was visible as it partially collapsed from nearly five inches in some spots.
Businesses also suffering
On their next stop, the former Board Chair of Bahamas Law Enforcement Cooperative Credit Union was cleaning up a store he owns. It suffered damage caused by eight feet of water. He mentioned that many local businesses have indicated to him they won’t be reopening anytime soon. The owners of one hardware store said it would be at least a year before they could reopen. As a result, job losses are likely for a number of people.
On a visit to a separate Bahamas Law Enforcement Credit Union branch that also remains closed, Bruce and Scott saw water marks two feet high.
“The damage is extensive to say the least,” said McCaw. “These institutions need generators, both large ones for their building, and smaller ones to power their various equipment and systems. In addition, a supply of fresh water is needed for both staff and members.”
Foulke expressed optimism about the future, based on what he saw from credit union staff and members.
“I think what really impressed me was the deep bond there is between the staff and their members, and vice-versa. They are mutually concerned about each other’s wellbeing. The credit unions have made it about providing service even though they don’t have electricity, computers or lights. They are even sharing medicine, food, water and shelter at this point,” said Foulke. “This was the finest moment of people helping people—the credit union philosophy.”
Project Storm Break is open and active to receive financial donations to support both the immediate needs of credit union members and staff, as well as to address long-term rebuilding needs. Donations can be made directly on our Project Storm Break page.
American Heritage Credit Union President & CEO Bruce Foulke amid debris from Hurricane Dorian in Freeport, Grand Bahama.
Dorian damages at National Workers CU in Freeport.
World Council of Credit Unions is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Greg Neumann
E-mail: gneumann@woccu.org
Phone: +1 608-395-2048
