Disaster recovery

The U.S. commonwealth has eight federally chartered credit unions, as well as a number of cooperativas, similar to state-chartered CUs.

Florida and Texas are normally major sources of mergers, but bankers in those states likely will take a break to assess damage from the hurricanes before returning to dealmaking.

Hurricane Irma reportedly impacted more than 100,000 credit union members in the region.

Bankers in Florida and Texas are dusting off their disaster-recovery playbooks, which focus on retrieving customers' valuables, ensuring employee safety and minimizing the bank's own legal exposure.

Banks could be busy supplying credit to manufacturers, hotels, multifamily developers and other businesses that will be helping residents get their lives back on track after two fierce storms.

Approximately two-thirds of the state's 136 credit unions suffered damage from high winds and flood waters, but CUs are reopening their doors to members and staff — though some are still without power and internet access.

As hurricanes wreaked havoc over the last couple of weeks, several banking-related narratives have emerged. Here is a look at those stories.

The hurricane was expected by many to deliver catastrophe. Instead, bankers are largely looking to restore power and confirm the status of employees.

Along with activating CUAid for Irma, an online community for credit union disaster-response efforts has also been launched.

The agency has earmarked all funds from a Hurricane Harvey recovery package for direct relief, despite calls to get more bankers involved in the process. It remains to be seen how the agency will handle the cleanup for Hurricane Irma.