CO-OP Financial Services has donated $10,000 to the American Red Cross to help recovery efforts from flooding that has ravaged the Midwest.
The payments and financial technology company said on Wednesday that it has more than 200 credit union clients in the flood-impacted states of Iowa, Missouri, Nebraska and Wisconsin.
“Overwhelmed levees, water quality concerns and more recent rains are contributing to the on-going need for aid,” Todd Clark, president and CEO of CO-OP, said in a statement. “We have also been contacting clients and CO-OP employees in the Midwest to assess needs and determine where we can additionally help.”
The National Credit Union Foundation is also distributing funds to the Nebraska Credit Union League through the CUAid General Disaster Relief Fund.
“When disaster strikes, the first thing we do is call our league and state credit union foundation partners to see how we can help,” Gigi Hyland, NCUF’s executive director, said in a press release.
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According to Nebraska Emergency Management Agency, the flooding caused about $553 million in public damage and about $89 million in private damage. Nebraska Gov. Pete Ricketts, who described the flooding as "the most widespread disaster we've had in our state's history," estimated that more than 2,000 homes and 340 businesses were damaged or destroyed.
In addition, the Nebraska Department of Agriculture said losses linked to the destruction of livestock and fields will cost the state about $400 million. The Nebraska Department of Transportation estimated that it will take $200 million to fix damaged infrastructure.
The Iowa Gov. Kim Reynolds said flooding in her state has caused about $1.6 billion in damages.
Robin Caddell, senior director of marketing and communications at Iowa Credit Union League, told Credit Union Journal by email that the Iowa Credit Union Foundation has granted five disaster grants, totaling $2,500, to Iowa credit union members who have been affected by the flooding.
