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News Now

CU System
Donations for Ike are mounting
WASHINGTON (9/26/08)--Several credit union foundations have reported that donations for Hurricane Ike disaster relief for credit union employees are mounting. In less than two weeks since Hurricane Ike made landfall, the Texas Credit Union Foundation (TCUF) has raised over $168,000, while the National Credit Union Foundation (NCUF) has received over $100,000 in donations through CUAid.coop and additional pledges, Steve Bosack, NCUF deputy director, told New Now. The largest pledge is from the Mississippi Credit Union System (MCUS), which has pledged to wire $33,000 to NCUF. MCUS President Charles Elliott requested that NCUF designate $28,000 to help credit union people in Texas and $5,000 to help credit union people in Louisiana.
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“TCUF emphasized that credit union employees have tremendous ongoing needs,” Bosack said. “TCUF has been making hundreds of $500 emergency grants almost as quickly as applications are coming in. “However, now that more residents are finally being allowed to ‘look and leave’ their properties and see the damage for themselves, it's clear that many more credit union employees have lost everything they own,” he added. “These employees will have much greater needs because insurance and the Federal Emergency Management Agency cannot make them whole.” To help respond to these urgent needs, NCUF Executive Director Steve Delfin is exercising his maximum discretionary grant-making authority: NCUF will grant $25,000 in disaster relief to the Texas Credit Union Foundation, in addition to the funds raised for Texas through the national CUAid campaign, NCUF said. In separate disaster relief, the Iowa Credit Union Foundation raised about $552,000 as of Thursday for victims of June flooding throughout Iowa, Emily Oliver, director of public affairs and marketing for the Iowa Credit Union League, told News Now. Midwest storms and subsequent flooding impacted about 30 Iowa credit unions and some of the biggest metropolitan areas in the state (News Now June 13).


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