Australia’s CUs Respond To Severe Flooding

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BRISBANE, Australia – Credit unions here and in the state of Queensland are scrambling to provide assistance to members as floodwaters continue to take their toll.

Abacus Australian Mutuals, the trade group for the country’s 104 CUs and nine building societies, reported that CUs in northeastern Australia are dealing with a host of operational issues, including building sandbag barriers around branches. Some Australian CUs have offered to allow members to delay making loan payments and are adjusting credit contract terms for those affected by what’s being called Australia’s worst-ever flooding.

The Worldwide Foundation for Credit Unions, which is part of the World Council of CUs, is offering relief funds to those affected. WOCCU is accepting donations at www.woccu.org/give.

 

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