LaCorp Seeking Deposits
Louisiana Corporate CU (LaCorp) is operating from its contingency site in Lenexa, Kan. "Undoubtedly, as people start the difficult process of putting lives back together, credit unions in the southeastern part of the country will need large amounts of liquidity to resume operations and provide loans to their members," said CEO David Savoie.
LaCorp is asking other credit unions to consider making deposits, such as money market accounts, with the corporate or becoming an affiliated member to help provide funds to credit unions in need.
It also is waiving interest charges and overdraft fees for credit unions that have been affected by delays in items moving through the Federal Reserve System.
For info: 504-838-8250 or www.lacorp.com.