Overflowing Rivers Disrupt Service At NewEngland CUs

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CONCORD, N.H. - (05/18/06) – Members have begun returning totheir credit unions as flood waters recede throughout theNortheast, following the worst flooding in the region since thegreat flood of 1936. Dan Egan, president of the Massachusetts, NewHampshire and Rhode Island CU leagues, said a few credit unionsnear the swollen Merrimack and Salmon Falls Rivers had closedMonday, but are now open. The main problem has been that membersare being blocked from their branches due to road closings orout-of-commission bridges. The real threat is if one of those damsbreak, Egan told The Credit Union Journal. Credit unions in Maineare operating, but some employees and local businesses haveflooding in their basements, said Jon Paradise, a spokesperson forthe Maine CU League. Credit unions in the state may expect to seean increase in short-term loans or member business loans to helppay for flood damages, he said.

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