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September 19, 2017

CUs urged to prepare for Hurricane Maria; resources available

Credit unions are again being advised to take precautions and ask for assistance if they need it as Hurricane Maria – currently a Category 5 storm – makes its way to the Virgin Islands and Puerto Rico.

The NCUA sent a release Tuesday outlining resources available to credit unions through the agency. Such aid includes urgent needs grants for qualifying credit unions, guaranteed lines of credit through the National Credit Union Share Insurance Fund and the ability to provide emergency financial services for nonmembers.

"Our thoughts and prayers are with those who are in the path of Hurricane Maria," said NAFCU President and CEO Dan Berger. "We thank the NCUA and other federal agencies for the assistance they are providing to those who will be affected by this storm and the other two recent hurricanes to hit the U.S."

NAFCU will continue to support its members to ensure all have access to needed resources in the aftermath of the storm.

For those credit unions needing additional resources, the NCUA has available hurricane and disaster preparedness recovery information. The National Hurricane Center also has a webpage with information about Hurricane Maria, and the Department of Homeland Security has an information page on being prepared for hurricanes.

This will be the third hurricane to wreak havoc on the U.S. in recent months. Texas and Florida are underway with recovery efforts in the wakes of Hurricanes Harvey and Irma.