Credit unions in the Carolinas continue to
The National Credit Union Administration said it is “closely monitoring” Florence, and that it has a hurricane information webpage with material on preparedness and recovery available for credit unions and members in the storm’s path.
The NCUA further said it will be ready to assist credit unions with “maintaining or restoring operations, if necessary.” The NCUA’s Office of Credit Union Resources and Expansion can also provide urgent needs grants up to $7,500 to low-income credit unions that experience sudden costs to restore operations interrupted by the storm.
Additionally, PSCU, a credit union service organization based in St. Petersburg, Fla., said its contact centers are “currently taking and will be prepared to continue fielding extra call volume” from its owner credit unions which are located in states where the storm threat is greatest.
The CUSO said it anticipates volume will continue to “increase as the storm continues along its path and makes landfall, and we also anticipate higher than normal call volume following the storm.”
The storm is expected to make a significant impact across the Carolinas and parts of Virginia and Georgia.
Angi Christensen Harben, director of communications at Georgia Credit Union Affiliates, said as of Wednesday afternoon no branches in the state have closed.
Closing doors (and shuttering windows)
The Carolinas Credit Union League and Carolinas Credit Union Foundation said they are fielding reports of branch closings and preparing to support any credit union facilities, staff, and volunteers affected by the storm.
Among the CUs impacted:
- The $239 million Carolina Trust Federal Credit Union of Myrtle Beach, S.C., is putting its disaster and emergency services plan in place to ensure online banking services remains accessible to members throughout this weather emergency. All Carolina Trust branches are closed but the CU hopes to reopen on Monday morning. ATM services are currently unavailable at seven branches.
- The $55 million Latitude 32 Federal Credit Union of Charleston, S.C., has closed its branches as of 11:30 a.m. Tuesday and will remain closed until further notice.
- Branches of the $99 million Riegelwood Federal Credit Union of Riegelwood, N.C., closed on Wednesday and will remain closed until Monday, Sept. 17.
- The $3.1 billion Coastal Credit Union of Raleigh, N.C., indicated that all of its branches were open as of Wednesday afternoon, but advised that given the magnitude of Florence, “we may need to close our branches if the weather is severe enough to warrant it.”
- The $38.3 billion State Employees Credit Union of Raleigh, N.C., said more than two dozen of its branches, including locations in coastal Wilmington, will be closed through Friday.
- The $1.7 billion South Carolina Federal Credit Union of North Charleston, S.C., said its financial centers in Charleston and Georgetown will be closed through Friday, while the center in Florence will close at 2 p.m. on Sept. 12 and remain closed until further notice. The Columbia branch will maintain normal business hours.
- The $168 million SPC Credit Union of Hartsville, S.C., said plans to operate under normal business hours on Thursday and will determine its Friday hours by 7:00 a.m. that day.
- The $348 million CPM Federal Credit Union of North Charleston, S.C., has closed six branches until further notice. However, its Orangeburg and four Upstate branches remain open, and back-office functions remain operational.
- The $404 million Fort Bragg Federal Credit Union of Fort Bragg, N.C., will maintain Skibo branch and call center operations from 9:00 a.m. to 12:00 noon Thursday, then close until 10:00 a.m. Monday.
