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As Hurricane Laura intensified in the Gulf of Mexico, the NCUA urged credit unions in its path to be safe and take precautions. The hurricane is expected to make landfall near the Louisiana-Texas border, and have inland flood impacts as far north and east as Arkansas and the Ohio and Tennessee valleys.

"Credit unions in Hurricane Laura’s path should take measures to protect their staff and secure their operations," said NCUA Chairman Rodney Hood. "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."

NAFCU has prepared specific resources and information for credit unions affected by disasters – including a guide for credit unions to support disaster relief.

In addition, credit unions can leverage NCUA resources on its Hurricane and Disaster Information page. The agency's Credit Union Resources and Expansion office can provide urgent need grants of up to $7,500 per year to low-income credit unions that experience sudden costs to restore operations interrupted by a disaster.

Among other resources available to credit unions and their communities:

• FEMA has general information about disasters and usually creates resources for specific federal disaster declarations.
• State governments frequently release resources to help consumers and credit unions, which are often found on the state's emergency management division's website. Information specific to credit unions is sometimes included on the state financial institutions' regulator website.
• Credit unions that offer small business loans through the Small Business Administration may be interested in the administration's Disaster Loan Program. The agency also sometimes issues short-term deferments for certain loan programs following a federal disaster declaration.
• The National Credit Union Foundation's CUAid relief system is sometimes activated in response to a disaster. The program raises money for the Foundation's Disaster Relief Fund, which directly connects with area leagues to disburse funds through a grant program.

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