Hurricane Harvey Bearing Down, Texas CUs Close Shop

Hurricane Harvey Bearing Down, Texas CUs Close Shop
August 24, 2017 Marketing GrafWebCUSO

At least six of the 13 credit unions based in Corpus Christi, Texas will be closed Friday and Saturday as the coastal city of more than 320,000 is expected to be in the center of Hurricane Harvey when it hits landfall Friday night.

An additional eight credit unions in communities nearby Corpus Christi also announced branch closures for Thursday, Friday and Saturday.

The National Hurricane Center in Miami reported Thursday afternoon that Harvey has intensified rapidly and is forecast to be a major hurricane at landfall, bringing a life-threatening storm surge, rainfall and high winds to portions of the Texas coast. Hurricane Harvey is expected to generate rainfall of 12 to 20 inches across much of the coastline with isolated amounts as high as 30 inches from Friday through early next week.

Corpus Christi city officials did not order an evacuation, but they strongly urged residents and businesses in low-lying areas to leave.

Corpus Christi credit unions that announced branch closings for Friday and Saturday were the $1.26 billion Navy Army Community CU, the $289 million Coastal Community and Teachers CU, the $205 million Gulf Coast FCU, the $125 million Members First CU, the $55 million Texas Bridge CU, and the $13 million Third Coast CU.

But a few credit unions decided to close up shop on Thursday. The $3 billion Texas Dow Employees CU closed their branches in Edna, Port Lavaca and Seadrift, while the $33 million San Patricio County Teachers FCU in Sinton and the $8 million Sherwin FCU in Portland shut their doors on Thursday afternoon.

Officials ordered evacuations of Portland, Rockport, Port Aransas, Aransas Pass, Ingleside and Robstown on Thursday, according to local media reports.

Other credit unions that will close up branches on Friday and Saturday are the $16 million Texas Community FCU in Kingsville, the $57 million Baycel FCU in Bay City, the $15 million Victoria Teachers FCU in Victoria, and the $9 million Victoria FCU also based in Victoria.

City officials for Houston, about 200 miles northeast of Corpus Christi, said they are monitoring Hurricane Harvey. The National Weather Service said Houston may get eight to 12 inches of rain over the next four to five days and wind gusts of up to 60 mph.