Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CUAid update 24K raised Irenes effects linger
MADISON, Wis. (9/16/11)--CUAid.coop, the National Credit Union Foundation’s (NCUF) online disaster relief system, has generated more than $24,000 for victims of Hurricane Irene and Tropical Storm Lee.
Click to view larger image National Credit Union Foundation has raised more than $24,000 for victims of Hurricane Irene and Tropical Storm Lee through CUAid.coop, its online disaster relief system. Harrisburg, Pa., is among the areas that has experienced major flooding. (Photo provided by National Credit Union Foundation)
The effects of Hurricane Irene are still being felt by credit union people along the East Coast, particularly in New Jersey, New York and Vermont. Tropical Storm Lee has caused severe flooding in Pennsylvania, said NCUF. “We are still in the process of surveying the damage to credit unions, employees, and members,” said Jim McCormack, president/CEO of the Pennsylvania Credit Union Association (PCUA), Harrisburg, Pa. “There has been substantial flood damage in several areas across Pennsylvania and our association, through the Pennsylvania and National Credit Union Foundations, will work with credit unions to help ease some of the financial burden on people who may have lost everything.” Belco Community CU, Harrisburg, is offering a special hardship loan at a reduced rate for those affected in the central Pennsylvania area. Flood victims will pay a 4.99% annual percentage rate on a personal, unsecured loan for up to a 60-month term and a maximum loan amount of $5,000. This loan is designed to cover the costs of structural home repairs to restore basic livability or replacement of major appliances. Cross Valley FCU, Wilkes-Barre, Pa., worked with the American Red Cross to prepare its branches as collection sites for cleaning supplies and monetary donations, according to the PCUA (Life is a Highway Sept. 15). On Monday afternoon, Cross Valley FCU staff visited affected areas and offered food and water to those helping with clean-up efforts. M-C FCU, Danville, Pa., formed volunteer groups to help clean up homes of members and residents in the Lewisberg, Bloomsburg and Danville areas. The credit union is also accepting donations for the American Red Cross and flood victims. People’s Choice FCU, Duryea, Pa., is accepting cleaning supplies and donations for distribution to needy families in the community. “While Irene may be long gone, the damage that remains is significant,” said Paul Gentile, president/CEO of the New Jersey Credit Union League, Hightstown, N.J. “Thousands of New Jersey residents have been displaced because of severe flooding. Implementing CUAid is a testament to the credit union spirit and reflects credit unions’ willingness to help those who need it most.” Credit union supporters in every state can donate through a secured website that accepts credit cards and wire transfers. CUAid is the only program of its kind through which credit union employees, volunteers, and members and credit unions and credit union organizations nationwide can contribute directly to support other credit union people. NCUF will coordinate with the credit union leagues in the disaster area to distribute money to affected credit union employees and members. CUAid was developed by NCUF in cooperation with state credit union foundations, state credit union leagues, and the Credit Union National Association’s Disaster Preparedness Committee in 2006. In 2011, NCUF has raised over $250,000 in disaster relief donations that were disbursed as grants to credit union employees and members who suffered losses from tornadoes in Alabama and Missouri and from flooding in North Dakota. (See related story: “Dakota flood victims delivered $36K from CUAid.”)
Other Resources

RSS print
News Now LiveWire
July 's Fed Bank's "FedFocus" has some interesting articles: incl cost/benefits of $1 currency 2 coin conversion ttp://tinyurl.com/nybmnhh
17 hours ago
Do you wish you were a News Now subscriber? Go here: http://t.co/7evfBSjeMx
17 hours ago
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
18 hours ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
19 hours ago
.@CUNA is testifying on reg relief Tues,July 15 at 2 p.m. be4 Hs Fin Serv Subc. Here is the agenda and witness list: http://t.co/yBRhlmdqHt
21 hours ago