AltaOne FCU Forgives KatrinaLoans

RIDGECREST, Calif. - (10/14/05) -- AltaOne FCU announced Thursday ithas become the first credit union to offer loan forgiveness for allmembers impacted by Hurricane Katrina. The $440 million creditunion said it has 'wiped out' the current balances on loansoutstanding for 22 members of its members who live in thehurricane-wracked areas, with no negative impact on their creditreports and no more payments or other amounts owed, according toDiane Hargrove, marketing supervisor at the credit union. Totalloan forgiveness is about $70,000, Hargrove told The Credit UnionJournal. The credit union has already raised and donated almost$70,000 in relief funds for victims of the massivestorm.