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News Now

CU System
Many ATMs destroyed in Iowas flood
CHICAGO (6/25/08)--The water in several flooded Iowa cities took its toll on ATMs serving credit unions and banks in the area, according to several ATM manufacturers. Although the totals will be sketchy until waters recede and branch managers can get to their buildings to assess the damages, officials from Diebold Inc. told ATM & Debit News (June 19) that a large number of ATMs were destroyed. All ATMs that came in contact with the water are "totaled." Once the personal computer that drives the ATM gets wet, the ATM must be replaced, Diebold spokesperson Mike Jacobsen told the publication. Staff making repairs had to use boats to get to branches and ATMs. Johnston, Iowa-based Shazam Inc., an electronic funds network that serves ATMs in Iowa, estimated that 60 ATMs there have stopped operating because of the flooding in Cedar Rapids and Iowa City. A Wells Fargo & Co. Inc. bank shut down six of its ATMs in Cedar Rapids, Coralville, Des Moines and Waterloo. It also closed an off-site ATM in flooded Jefferson, Wis. Power outages also make it difficult to assess the extent of the damage. ATMs are considered a key part of recovery efforts during a disaster because victims find it reassuring if they can withdraw funds from their accounts to handle emergency expenses related to the disaster, the article said.


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