Hurricane-Damaged CUs Try To Hold OntoEmployees

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NEW ORLEANS - (01/18/06) – The National CU Foundation saidTuesday it will dedicate a significant portion of the $1 millionremaining in its Disaster Relief Fund towards helping credit unionsdamaged by hurricanes Katrina and Rita retain critical employees, akey need targeted by those credit unions. The Foundation raisedmore than $3 million to aid affected credit unions in Louisiana,Mississippi and Florida and has already disbursed more than $2million to credit unions and their employees to help them recoverfrom the massive storms. As part of the effort to retain importantemployees, the Foundation is considering disbursing small grants tohelp pay for housing, personal recovery counseling, and otherincentives. Louisiana, alone, still has 35 credit unions withdisplaced workers, many of whom are commuting two hours to workwhile living with relatives out of town or out of state. The grantscould help some of them pay for available housing in New Orleans,which has soared in pricing. The Foundation is still acceptingcontributions to the disaster fund.

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