BILOXI - (09/06/05) -- Keesler FCU was dealing with thedevastation at its home office and branches last week by reroutingsome of its transactions all the way to its London (England)offices, where electronic transmissions were readily beingprocessed. The state's largest credit union had two more branchesup and running over the weekend, after sustaining what one observerdescribed as millions of dollars in damages from Hurricane Katrinaand the aftermath of the mighty storm. Damages included thedestruction of two of its branches, substantial damages at otherfacilities, including the loss of half of the roof at itsheadquarters, which was in the eye of the storm. The credit unionwas trying to operate in disaster mode, but was limiting cashwithdrawals at some sites because of limited cash delivery in thearea.
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OakNorth Bank in London is eager to utilize the data it's collected from providing risk management software to American banks over the past five years. Its growth plans include eventually acquiring a charter here and making commercial real estate loans.
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