CUNA Mutual Group reported Monday it has received seven credit union claims though none have been considered catastrophic claims because of Tropical Storm Harvey, which has dumped 11 trillion gallons of rain on the Lone Star State and caused massive flooding throughout Houston.
CMG identified about 200 credit unions in an around the Texas coastal area that may have been affected by the storm. The organization’s disaster response team contacted those credit unions by phone and email.
“We are prepared to have CUNA Mutual Group teams on the ground this week, and additional resources were allocated this morning in order to assist with a swift pre-catastrophe response, due to the high number of customers in the coastal areas of Texas,” CMG said in a prepared statement.
As of Monday afternoon, rainfall continued to pound the nation’s fourth largest city that forced nearly 50 credit unions to close operations. More than a dozen credit unions announced they will be closed on Tuesday, according to a list of closures posted on the Cornerstone Credit Union League’s website. At least one credit union, the $263 million Houston Texas Fire Fighters Federal Credit Union, said it will be closed on Wednesday.
However, a few credit unions have managed to keep some of their branches open.
For example, Randall Dixon, president/CEO of the $227 million Energy Capital Credit Union, said two branches were operating on generator power.
“Our disaster team is communicating via What’sApp (an instant message service) and working on remote access to run systems,” Dixon said. “Members can still access services using ATM’s, shared service centers, mobile and PC banking systems.”
“As water goes down, hopefully, we will be able to access usability of locations and (assess) property damage,” he said.
Dixon also said several staff members reported their homes had been damaged by the flood.
The $235 million Cy Fair Federal Credit Union reported it will remaine closed on Tuesday though it may reopen Wednesday depending on the weather and flooding circumstances.
The credit union reported a few of its employees had to evacuate their homes, while a sizeable percentage of its employees remained trapped in their homes and neighborhoods unable to travel to branches safely.
The credit union said it will reopen when it’s able to safely get the appropriate number of employees needed to manage at least the minimal branch operation needs.
The Cornerstone Credit Union Foundation and the Cornerstone Credit Union League’s Disaster Response Team announced they are prepared and ready to help affected credit unions in the areas hit by Tropical Storm Harvey.
It’s an all-hands-on-deck situation, said Caroline Willard, president/CEO of the Cornerstone league.
The league has remained in regular communications with regional and national entities, such as CO-OP Shared Branching, the NCUA, CUNA, National Credit Union Foundation, CMG, Catalyst Corporate, and other business partners to ensure that those credit unions in need have ready access to the assistance available. “Credit unions are known for their community outreach, and this storm has brought out the best in us,” Willard said. “We are seeing a generous outpouring of support from credit unions across the region and around the country, and we are updating our list of available resources all the time.” Cornerstone has developed a page dedicated to credit union closures and resources as a result of the ongoing devastation created by Tropical Storm Harvey.
Additionally, in response to the storm and to help raise money for credit union people in Texas, the National Credit Union Foundation’s CUAid disaster relief system has been activated. To donate, please visit the CUAid website.
Grant applications for disaster relief is available for affected credit unions and can be found via the Cornerstone Foundation’s website.
