Employees of Southeast Corporate FCU and Credit Union 24 loaded 25 generators, each with five gallons of gasoline, plus 48 cans of gasoline, and other supplies in a truck that left Tallahassee last week for Biloxi, Miss. The generators will help hurricane-damaged credit unions and those without power to reopen.
Southwest Corporate Donates $100K, Offering Special Loan Packages
DALLAS-Southwest Corporate Credit Union has donated $100,000 to a Louisiana Credit Union Recovery Fund, and is also in the process of assembling special loan packages to credit unions affected by Hurricane Katrina. Noting that communications into and out of the affected areas is "nearly impossible," Southwest Corporate has assembled a Disaster Recovery Team that is working to contact affected credit unions and provide operational guidance.
"We are slowly but steadily making contact," said SVP-Operations Jody Beck. "We put messages out on our website and are able to communicate with some credit unions through our proprietary TranZact system. In other cases, information is traveling by word of mouth-one credit union at a time."
Southwest Corporate is waiving the fees for wires and Western Union transfers that are directly connected to getting money to members affected by Hurricane Katrina. Since implementing the Disaster Recovery Team, Southwest Corporate said it has heard from several-dozen CUs, including the $92-million Coastland FCU in Metarie, La., which needed assistance in getting updated balances on its ATM system, the $9.3-million Louisiana National Guard Credit Union in Arabi, La., and the $8.4-million Michoud Credit Union, which needed help in developing alternative methods for delivery of ACH files, since their Internet service was disrupted.
One Southwest Corporate employee, Vahid Parvazi, who lived and worked in New Orleans, reported his family had survived but his home is underneath 14 feet of water.
Affected credit unions are urged to call Southwest Corporate's toll free number at 1-800-442-5763 and ask for the Disaster Recovery Team. The team can also be reached by e-mailing: memberservices
