Shared branching network feels hurricane impact
GREENSBORO, N.C. (9/26/05)--As evacuees from Hurricanes Katrina and Rita leave their homes for safer areas, they are finding that credit unions in the shared branching networks are providing lifeline financial services.
Although many credit unions have reopened since Katrina hit, "That's not very helpful if you are hundreds of miles away from the credit union," said Steve Willis, president, Carolina Credit Union Services (CCUS). "This is where shared branching has been a great benefit."
Members are extremely thankful to have access to shared branches, said Donna Bariager, president/CEO, Carolina FCU, Cherryville. The credit union joined CCUS a month ago, and Bariager said already the shared branching network is proving invaluable (North Carolina Credit Union League Weekly Update Sept. 22).
"Shared branching is often thought of as a mere convenience," Willis said, "but this hurricane shows the true benefit the network brings."
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