MADISON, Wis. (11/28/12)--More than $230,000 has been raised so far through CUAid.coop for credit union people affected by Hurricane Sandy, said the National Credit Union Foundation (NCUF) Tuesday morning. Damage estimates from the storm rose Monday to more than $71 billion.
The $230,000 compares with the more than $185,000 that had been raised through CUAid, the credit union movement's disaster relief fund, by Nov. 15. NCUF administers the fund for credit unions. The relief funds are distributed to credit unions' employees, volunteer leadership and members impacted by the storm.
"We continue to work with the New Jersey Credit Union League and Credit Union Association of New York to distribute the funds to those who need assistance," said Christopher Morris, NCUF director of communications.
The National Credit Union Administration has estimated that 818 credit unions were impacted by the Oct. 29 and Oct. 30 storm, mostly in closures due to power outages.
Hurricane Sandy was downgraded to a tropical cyclone on Oct. 29, just before it made landfall south of Atlantic City, N.J., and destroyed the coastline in New Jersey and New York. New Jersey, New York and Connecticut were heaviest hit.
Damage estimates released this week indicated that the storm caused more than $71 billion in damages--higher than the $50 billion estimated right after the storm.
New York Gov. Andrew Cuomo said damages in his state totaled $42 billion. The estimate includes $9 billion for prevention expenses for future storms. The state will request federal disaster aid, he said (Voice of America Nov. 26.)
New York City Mayor Michael Bloomberg estimated that the city suffered $19 billion in damages, which are included in Cuomo's statewide estimate (Christian Science Monitor Nov. 26).
Last week New Jersey Gov. Chris Christie estimated that state sustained $24 billion in damages, while Connecticut Gov. Dannel Malloy said more than $360 million in damages were sustained by businesses, homes and public property in his state.
More than a month after the huge storm, people were still homeless, with some sleeping in tents where their homes used to be.
Sandy was particularly damaging because it combined with a cold front from the northwest and a high pressure storm system moving in from Greenland. The result was a monster storm that encompassed an 800- to 1,000-mile wide stretch of high sustained winds and flooding across several states in the North East. It also flooded lower Manhattan in New York City, cut power to an estimated 6 to 8 million people, and destroyed shorelines in New Jersey and New York.