NASHVILLE, Tenn. – Storms that killed 22 and flooded thousands out of their homes and businesses in Tennessee, Kentucky, and Mississippi hit credit unions the hardest in downtown Nashville.
Unconfirmed reports have at least four branches closed here yesterday, where the Cumberland River was expected to crest at 11 feet. Two closed offices are owned by $403-million Southeast Financial CU. “We have fared better than some,” said COO Jeff Dahlstrom, who explained that the offices were closed due to power being out at one location and because staff could not make it into the other. “We did not experience any flooding damage. About four staff could not make it in due to either high water where they live or roads being closed.”
Dahlstrom told Credit Union Journal that he expected both locations, one in Goodlettsville – just north of Nashville – to be open today.
The $132-million US Community CU fared a bit better by keeping all four of its branches open, but four employees were affected by the heavy storms. One employee narrowly escaped onrushing waters, shared CEO Paul Johnson. “She was traveling down I-24 on Saturday and got trapped in her car,” he said. “The water came up so fast. Fortunately she was able to get out and away from danger. But her car was swept away.”
Johnson said four employees had their homes flooded, as well as the homes of some CU members. Johnson said he hoped that staff would be able to get to some of those individuals today to help them clean up.
Tennessee Employees CU reported on its phone system that it was closed “due to weather,” and Electric Service CU – thought to be located in the floodplain – could not be reached.
The Mississippi and Kentucky CU Leagues told the Journal they had not been contacted by any credit unions that had suffered damage and were not aware of any staff or members who were injured. Tennessee CU League President Tom Gaines confirmed that most of the damage in his state was concentrated Nashville, but that CU staff and members, apparently, are okay. “We have heard reports that some of the smaller credit unions in Nashville had to close because employees could not get into work. But they expect business as usual [today],” Gaines said.
