As Tropical Storm Barry hits the Gulf Coast, the NCUA urged credit unions in its path to be safe and take precautions. There are a number of resources available to credit unions and consumers affected by natural disasters; NAFCU stands ready to help credit unions in need of assistance as they and their members recover from the storm.
These resources can also be used by credit unions that were impacted by recent earthquakes in California and Washington state.
NAFCU has prepared specific resources and information for credit unions affected by disasters – including a guide for credit unions to support disaster relief.
The NCUA also has resources available on its Hurricane and Disaster Information page. The agency’s Credit Union Resources and Expansion office can provide urgent need grants of up to $7,500 per year to low-income credit unions that experience sudden costs to restore operations interrupted by a disaster.
The CFPB has available a financial management guide to help those consumers preparing for, recovering from or rebuilding after a natural disaster.
continue reading »