Wilma damages total $500,000 so far, says CUNA Mutual

MADISON, Wis. (10/31/05)--Damages to credit unions from last week's Hurricane Wilma are less than first anticipated, says CUNA Mutual Group.

"CUNA Mutual has contacted all credit unions in the area affected by Hurricane Wilma," said Phil Tschudy, manager of media relations. "Damages are far less than we initially expected."

As of Friday, 10 credit unions had reported damages, totaling about $500,000.

"One credit union sustained major roof damage, but most credit unions reported minor physical damages. We anticipate receiving a few additional claims over the next couple of weeks, but we are not expecting those to be significant," Tschudy told News Now. "From Orlando to the Keys, the main problem for our insureds, both corporate and individuals, continues to be a lack of power, gas and food."

Tschudy said, "CUNA Mutual staff and catastrophe adjusters are working diligently to assess and respond to the needs of insured credit unions and credit union members in the affected areas. As we did with Hurricanes Katrina and Rita, CUNA Mutual has implemented measures to assist credit unions and credit union members in response to Hurricane Wilma."

To file a claim, use these phone numbers (note that service hours and time zones vary):

CU Protection, 800-637-2676, 24/7, for coverage of a credit union's building, business personal property, data processing equipment, extra expense, owned ATMs, valuable information and credit union-owned or repossessed vehicles. This unit also insures the credit union under the fidelity bond for financial loss, including on-premise coverage for robbery or burglary.

Collateral Protection, 800-677-5363, 7 a.m.-6 p.m. CT Monday-Friday, for claims related to insurance on loan collateral, including vehicles and real estate.

MEMBERS Auto and Homeowners Insurance, for claims from individuals with vehicles or homes insured under the program and underwritten by Liberty Mutual and Progressive insurance. Both claims centers are open 24/7. Numbers include:

  • Liberty Mutual Group--800-225-2467 (800-2CLAIMS);
  • Drive Insurance from Progressive--800-776-4737 (800-PROGRES).

Individual life & health insurance, accidental death and dismemberment insurance (AD&D), annuities--800-779-5433, 6 a.m.-9 p.m. CT Monday-Friday and 8 a.m.-6 p.m. CT Saturday.

Credit life and credit disability insurance--800-621-6323, 7 a.m.-7 p.m. CT, Monday-Friday.

Employee Benefits Service Center for all states except California--800-548-9390, 8 a.m.-5 p.m. CT Monday-Friday. For California, 800-333-2644, ext. 4203, 8 a.m.-5 p.m. PT, Monday-Friday. Long Term Care Insurance--800-370-7684, ext. 4804, 8:30 a.m.-4:30 p.m. ET, Monday-Friday.

CUNA Mutual Mortgage--Credit union members with existing mortgages should call 800-221-2921, 8 a.m.-7 p.m. CT Monday-Friday; and credit union staff should call 877-286-2684, 8 a.m.-5 p.m. CT, Monday-Friday.

All claims originating from Hurricane Wilma will be handled as quickly and efficiently as possible and will be evaluated in accordance with the insurance contract's provisions. On individual claims, every effort will be made to limit requirements to expedite funds disbursement, said CUNA Mutual.

Claims payments: Previously scheduled electronic payments will be made to credit unions until or unless the credit union requests another arrangement. The U.S. Postal Service will hold mailings that contain paper checks until they are deliverable.

Policy renewals:If CUNA Mutual cannot contact a credit union or individual policyowner to renew an insurance contract, an automatic renewal will occur for that product. Any necessary changes to coverage limits or deductibles will be made once contact is restored with the insured.

Standard billings and mailings, scheduled promotions in affected areas: Many residents in the affected areas are either engaged in securing basic needs, or have vacated the area. CUNA Mutual is reviewing all scheduled billings and mailings intended for distribution in affected areas and will temporarily suspend mailings to these areas to ease the burden for credit unions and members.

CUNA Mutual Mortgage:A hold has been placed on assessing late charges and on credit bureau reporting for members in the affected areas who have mortgages serviced by CUNA Mutual Mortgage. CUNA Mutual also will work with them on repayment plans and loss mitigation options.

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Relief Effort and Support for CUs (R.E.S.C.U.)
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