Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NCUA Activates Disaster Relief For Oklahoma
WASHINGTON (5/22/13)--In the wake of this week's tornadoes, the National Credit Union Administration has activated its disaster relief policy to aid impacted credit unions and their members.

Under the NCUA disaster relief policy, the agency will, where necessary:

  • Encourage credit unions to make loans with special terms and reduced documentation to affected members;
  • Reschedule routine examinations of affected credit unions if necessary; and
  • Guarantee lines of credit for credit unions through the National Credit Union Share Insurance Fund.
The NCUA also encouraged credit unions to exercise prudent efforts to alter terms on existing loans for affected members, including:

  • Extending the terms of loan repayments;
  • Restructuring a borrower's debt obligations; and
  • Easing credit terms for new loans to certain borrowers, consistent with prudent practices.
Institutions in need of assistance in dealing with members affected by this disaster should contact NCUA's Region IV office in Austin, Texas, at 512-342-5600.

Members needing emergency assistance related to the tornados and severe weather should call NCUA's toll-free consumer assistance hotline at 800-755-1030 and press the appropriate option. Operators will answer calls Monday through Friday between 8 a.m. and 5 p.m. EDT, the agency said.

Federal credit unions may also provide emergency financial services for non-members and aid other credit unions by providing services.

For the full NCUA release, use the resource link.
Other Resources

NCUA Release
RSS





print
News Now LiveWire
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
13 hours ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
1 day ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
1 day ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
1 day ago
You can get your subscription to @cuna 's free, daily, online #creditunion #news service News Now here: http://t.co/YtUejEmAYP
1 day ago