Oct. 29, 2012 – NCUA issued statement Friday urging credit unions in the path of Hurricane Sandy, which was set to move up the Atlantic coast, to take precautionary measures.
Meteorologists are tracking this hurricane and have said it could converge with a northeaster. Reports said that could be the largest weather event, already dubbed “Frankenstorm,” seen in the region since 1991.
NAFCU is watching the storm’s progress and making its own preparations.
NCUA Chairman Debbie Matz, in Friday’s announcement, urged credit unions and their members in the path of the storm to prepare. “We know that an ounce of prevention now will help to prevent problems later,” she said. “NCUA stands ready to do what is needed to help credit unions affected by the storm. As always, we continue to protect accounts at federally insured credit unions up to $250,000.”
The agency is ready to activate its emergency response plan if that becomes necessary, it said, adding it will take steps to assist credit unions in maintaining normal operations or, in the event of a disruption, to restore those services as quickly as possible.
The agency also referred credit unions to the National Weather Service and the Federal Emergency Management Agency’s Ready.gov websites (Listo.gov para espanol) for tips on how to prepare and steps to protect one’s finances.