REEDSBURG, Wis. – Dozens of credit unions throughout this flood-soaked region were improvising over the weekend and yesterday to provide emergency financial services to their members.
Co-op CU, for example, found a unique way to keep its branch here operating after flooding cut communications with its main office: it called in member transactions at the drive-thru via cell phone to another office over a dedicated line.
First Class CU, in Des Moines, Iowa, invited three flooded credit unions – Des Moines Metro CU, Des Moines Police Officers CU and USDA CU – to operate out of its facilities.
Hundreds of credit union workers evicted by the onrushing floodwaters were returning to their offices yesterday to clean up, assess damages and start the monumental task of helping members reclaim their homes, cars and businesses.
“We’re lucky in that we’ve been cleared to get into our main location today,” said Tim Byers, president of First FCU, who was forced to boat to his flooded offices last week. “We’ll see how much damage has been done.”
But other executives still were barred by emergency workers from returning to their flooded offices. “The most frustrating thing now is that we are not allowed in the area yet,” Metco CU President Brad Mertens told The Credit Union Journal yesterday.
Metco and other credit unions throughout the flood-soaked region were preparing emergency loans and other assistance to help their members. “We are trying to find out how many employees are displaced and making sure we are providing some sort of aid to them, whether that’s clothing, personal goods or just cash,” said Rick Benhart, president of Collin Community CU.
Elsewhere, Centra CU, in Columbus, Ind., was offering members $1,000 in immediate cash, with no payment for six months. Indiana State University FCU also launched a flood relief plan for members.
More flooding is expected later this week as heavy rains continue to batter the region.
The Iowa CrU Foundation is accepting donations to help underwrite Disaster Relief Grants being offered to the victims of the unprecedented floods in the state. Credit unions in Iowa told Credit Union Journal there is tremendous demand for the grants from Iowans. For info, contact Marybeth Foster at 515-221-3010 or www.iowacreditunions.com.
