Georgia credit unions escaped relatively unscathed from floods ravaging the state, according to the National Credit Union Administration.

The agency has contacted about 60 credit unions in flooded areas. So far only three small institutions have reported damage:

* Albany-based Federal and State Inspectors Federal Credit Union was flooded. All records and computer equipment were relocated to another credit union.

* Macon-based City Employees Credit Union was flooded and relocated to a city-owned space.

* The sponsor of Montezuma-based Southern Frozen Foods Credit Union was seriously damaged by a flood-related fire.

The fire left 414 employees out of work. The "credit union has no risk assets, but continued viability is questionable at best," according to an agency memo.

On July 13, assistant regional director Tim Hornbrook and special examiner Brad Sanders of the agency's southeastern region visited credit unions from Macon to Albany. They determined whether credit unions were damaged, offered agency assistance in recovery efforts, and informed them of agency lines of credit.

The agency is postponing examinations of affected credit unions and has encouraged credit unions to offer loans with special terms and reduced documentation to customers affected by the flood.

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