Credit unions in path of Hurricane Laura urged to prepare

Preparations by credit unions in the path of Hurricane Laura were urged by their federal regulator Wednesday as the storm intensified in the Gulf of Mexico.

The National Credit Union Administration, in a release, noted that the hurricane’s current projected path could have it making landfall along the Gulf Coasts of Texas and Louisiana as early as Wednesday evening.

“Credit unions in Hurricane Laura’s path should to take measures to protect their staff and secure their operations,” NCUA Chairman Rodney E. Hood said. “The NCUA will be closely monitoring the storm’s progress, and we stand ready to assist credit unions with maintaining or restoring operations, if necessary. Credit unions and members can find information on staying safe from several online resources, and we encourage everyone to be alert for official announcements and media reports as the hurricane draws near.”

The agency said its Office of Credit Union Resources and Expansion can provide urgent needs grants of up to $7,500 to low-income credit unions that experience sudden costs to restore operations interrupted by the storm (more here).

The NCUA provided links to web pages providing hurricane and disaster information:

Release: NCUA Warns Credit Unions in the Path of Hurricane Laura to Prepare