LITTLE ROCK, Ark. - The latest round of tornadoes had Telcoe FCU CEO Sarah Mosley taking shelter with her family, neighbors, and five dogs in the storm cellar in her back yard, and that got her to thinking that people need more shelters, and the credit union could help with that.
The $197-million CU is making available a low-interest loan to build a storm shelter. “I think shelters will save lives down the road,” said Mosley. “If not, at least they will allay fears.”
Mosley said a storm shelter can be low cost, averaging between $3,000-$4,000. She cited a need for the loan since FIMA–which used to provide $1,000 toward a shelter–is out of money in the state to provide that type of support, Mosley explained.
“If a member doesn’t have the cash to pay for a shelter, we’re trying to come in with a 4% rate if they want to finance,” Mosley said. “We’ll find a way to put them in a payment low enough so that if they gave up a few burgers a week they can afford it...This has been a tough period for people in Arkansas. But we’re a tough breed and we’ll get past this and rebuild.”
Bu some things cannot be rebuilt or replaced. Mosley said a member’s father was killed in Clinton, Ark., and numerous members lost their homes, cars and livestock.
“I was talking to a man on the phone and he was crying after he lost his home,” Mosley said. “I tried to tell him how lucky he was that no one lost their life and that he didn’t lose a lot of livestock. A local breeder had 300 dogs killed. We’ve had a lot of tragic things happen.”
The statewide Telcoe, whose facilities have not been damaged by the deadly weather, has a hospital network in its field of membership. Mosley has been making it her practice to check in with the medical centers each time tornadoes touch down. “These are my central call points to take a head count and determine what’s happening with my membership.”
Mosley admits that so many storms have hit that it’s been hard to tell “where all my problems are. I had one gentleman tell me that he and his wife are OK, but they lost everything. I sent him money,” Mosley said. “The same is true for a young girl and her husband.”
The CU is making contributions to families in need and is working with the Arkansas Credit Union League, which is doing the same, Mosley said. Telcoe is also scouting for a repossessed mobile home to buy for a member to use as temporary housing while his home is rebuilt.
