DALLAS – Credit unions from the Texas coast through the upper Midwest have felt the wrath of Hurricane Ike, which destroyed CU offices, knocked out power, and forced one credit union manager and her two sons to take refuge at the CU.
“A credit union manager in the Galveston bay area decided that her home was in greater danger than the credit union and decided to stay in the office and ride out the storm,” explained Rick Grady, spokesman for the Texas Credit Union League, who at press time was working to get more details on the story. “She was the manager when the credit union was built and said she saw all of the steel that went into the building.”
It turned out to be a wise decision as the manager’s headquarters withstood the storm and her home did not, Grady said. “The next day her home was flooded and there were alligators in it.”
While the Texas coast took the brunt of Ike’s force, the hurricane traveled up through the Midwest, forcing a number of credit unions to shut down due to power outages. The National Credit Union Administration (NCUA) has identified 179 credit unions with combined assets of $12.7 billion, serving 1.7 million members, who have been adversely affected by Hurricane Ike.
“This is incredible to think a hurricane could affect credit unions in Columbus, Ohio,” said Patrick Harris, spokesperson for the Ohio Credit Union System, who reported the league is aware of 12 Ohio CUs that were not operating due to lack of power.
The force of Ike’s winds took a lot of people in the Midwest by surprise, acknowledged Members First Credit Union CEO Greg Kidwell, who was only three hours away from initiating the Columbus-based credit union’s disaster recovery plan yesterday, when power came back at 8 a.m. “We had no idea that we would have the highest recorded sustained winds in the history of Columbus weather record-keeping.”
Ike’s swing through Arkansas, Kentucky, Indiana, and Illinois has yet to result in a large number of reported problems, according to league officials contacted by Credit Union Journal.
The Kentucky league was aware of three credit unions that were not operating due to power outages, but suspected more CU closings will surface as communications are restored. The Louisiana Credit Union league could not be reached for comment.
Leagues serving credit unions in the hardest hit areas, along with NCUA, are working to provide support. The Texas Credit Union Foundation is partnering with the Texas Credit Union League to raise disaster relief support for affected credit unions and the employees that serve them. The Louisiana Credit Union Foundation, in partnership with the National Credit Union Foundation, has activated the online disaster relief system CUAid.coop (http://www.cuaid.coop/site/PageServer) to raise money for Louisiana credit union people affected by Hurricanes Gustav and Ike.
NCUA has activated its disaster relief policy to assist credit unions and their members affected by Hurricane Ike in Texas and Louisiana.
