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News Now

CU System
200 CUs report Ike losses 20 of them significant
MADISON, Wis. (9/30/08)--More than 200 credit unions in the path of Hurricane Ike have reported some type of loss due to the hurricane, with about 20 of those reporting significant damage, said CUNA Mutual Group Monday. Dollar figures on the losses won't be released until the company's senior management team and board are fully apprised, said Phil Tschudy, media relations manager at CUNA Mutual. "Reports of new losses have slowed down," he said. "As credit unions get back to business as usual, which will be difficult for some, we'll likely start seeing losses trickle in pertaining to ATMs, repossessed autos and data processing issues. Hopefully, these will be minor in nature." The hurricane made landfall early on Sept. 13 in Galveston, Texas, and affected a wide region, including Houston. "We believe we have been in contact with all credit unions impacted by this storm, Tschudy told News Now. "However, we encourage policyholders that sustained damage but have not yet spoken to us to contact our Disaster Hotline at 800-637-2676," he said, adding, "The same goes for credit unions that may have initially thought they had not sustained damage, but later discovered they did."


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