MOORE, Okla. As many as 26 credit union employees may have been personally affected by the tornadoes that have leveled much of this town.
The damage suffered by the employees ranges from complete loss of homes to damage to automobiles, according to the Texas CU League, which is in the process of merging with the Oklahoma CU League. The Texas CU foundation and the Oklahoma CU Foundation are already working together to provide assistance to those employees, as well as members.
In other news related to the tornadoes:
* NCUA has activated its disaster relief policy, including opening the agency’s toll-free consumer assistance hotline to answer financial questions related to the emergency. Credit union members needing emergency assistance related to the tornadoes and severe weather can call NCUA’s toll-free consumer assistance hotline at (800) 755-1030 and press the appropriate option. Operators will answer calls Monday through Friday between 8 a.m. and 5 p.m. EST.
* NCUA said it is encouraging CUs to make prudent loans with special terms and reduced documentation to affected members. It said it is rescheduling routine examinations of affected credit unions, and it is guaranteeing lines of credit for credit unions through the NCUSIF.
* In Pensacola, Fla., Pen Air Federal Credit Union is collecting monetary donations for the relief efforts of the American Red Cross. Funds are being collected at all Pen Air Federal Credit Union locations during the next two weeks.
