Disaster recovery

NCUF working with California Credit Union League to distribute disaster relief funds where needed.

Credit unions and industry organizations across the state have banded together to aid consumers impacted by devastating flooding in Michigan's Upper Peninsula.

Branch traffic and loan demand are up, but with significant parts of the recovery effort still unfinished, are Puerto Rico’s credit unions ready for more storms?

The OCC finds that Wells Fargo was not alone in its sales abuse practices (though it's not naming names); Fifth Third's Tim Spence is our Digital Banker of the Year; the CFPB acting director wipes out the agency's Consumer Advisory Board; and more from this week's most-read stories.

Hurricane Maria left behind a shattered Puerto Rico. Camille Burckhart and her technology team at Banco Popular found that they were uniquely positioned to help people rebuild. She has been selected one of our Digital Banker of the Year finalists for 2018.

With the 2018 hurricane season just around the corner, a recent report from the Federal Reserve highlights how much competition credit unions face when it comes to lending to small businesses recovering from natural disasters.

Banks may need to do more to help small businesses after a hurricane, flood or other calamity as those firms tend to favor nonbank lenders after an emergency for a number of reasons, according to research by four regional Federal Reserve banks.

It’s still not business as usual, but the decision to unify its two brands — Popular Community Bank on the U.S. mainland, Banco Popular in the U.S. territories — under a single, simpler name is a welcome sign that Puerto Rico’s largest bank is moving forward after the devastation of Hurricane Maria.

Banks scrapped a plan to create a shared data bunker for customer data in favor of a backup buddy system. Some argue a move to blockchain should be next.

There are plenty of challenges ahead for Puerto Rico residents, but credit unions with a presence on the island have largely returned to business as usual.

The House approved a five-year extension of the National Flood Insurance Program on Tuesday, but it remains unclear whether the Senate will seek to pursue its own bill. The program is due to expire Dec. 8.

Banks and their regulators quickly got back up to speed in markets hit hard by recent hurricanes, thanks in part to the lessons learned in the aftermath of Hurricanes Katrina and Sandy, a panel of regulators said Tuesday.

Credit unions in both states have prepped offers for consumers who need to rehab their homes following this summer's hurricanes, but there are hurdles ahead, including rising competition and stringent regulations.

The devastation and loss credit unions saw following Hurricanes Harvey, Irma and Maria should be a wake call for all financial institutions to have respective disaster recovery plans in place, but oddly the opposite sometimes holds true.

Chief among the credit union’s aid efforts are low- and no-interest loans, and initiatives in concert with other area service providers.

Debbie Meekins is running First Community Bank in Santa Rosa while simultaneously taking steps to rebuild her own life after her home of 19 years went up in flames.

Recent hurricanes and wildfires still raging in California are fresh reminders to bankers of the importance of emergency preparedness plans.

CU supporters nationwide can made donations to CUAid, with all funds are going towards credit unions in California and other areas damaged by natural disasters.

The California Credit Union League is setting up relief efforts via CUAid through the NCUF

The agency has a relatively new program designed to quickly get funds into disaster-stricken areas. The problem is that many banks and credit unions don't know it exists.