Foundation plans housing, counseling for CU staff
WASHINGTON (1/18/06)--The National Credit Union Foundation (NCUF) and Gulf Coast leagues will focus a significant portion of the remaining $1 million in the foundation's Disaster Relief Fund on grants that will help credit unions retain critical employees.
During a meeting at the Louisiana Credit Union League's recently repaired offices in greater New Orleans, leaders from NCUF and the Louisiana, Mississippi and Florida leagues identified employee retention as one of the critical issues for credit unions emerging in the aftermath of Hurricane Katrina.
"Credit union employees are working hard to provide service to their members--but many are also victims of the devastation brought on by Katrina," noted NCUF Executive Director Steve Delfin, who called for the meeting to discuss the situation.
"What we are hearing is that some employees are becoming overwhelmed with the stress of devastating losses, cramped living conditions, long commutes, and heavier workloads," he said. "The foundation decided to focus on the problem by providing assistance to those credit union employees who are helping their members recover, but who still have major disaster-related needs themselves."
By the first week of 2006, donations to NCUF's Disaster Relief Fund topped $3 million--a record for credit union disaster relief efforts. Primarily through the Louisiana, Mississippi, and Florida leagues, NCUF has committed and disbursed over $2 million in the first two phases of the Hurricane Katrina relief effort.
NCUF is now working with the affected leagues to consider grants that may include larger housing subsidies, personal recovery counseling, and other incentives needed to help credit unions retain critical employees.
The Louisiana league said up to 35 credit unions in the state have displaced employees facing long commutes and soaring apartment rents too pricey for credit union employees. The foundation funds will help retain those employees so that credit unions can return to productivity and serving members.
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