AACUC Raises $37,000 for Small, Katrina-Impacted Credit Unions
ST. LOUIS - The African-American Credit Union Coalition continues to assist small credit unions still recovering from Hurricane Katrina. So far, the group has raised more than $37,000 in grant money to provide equipment and other items to impacted credit unions. AACUC's mentorship committee has used the grant money to send personnel from other credit unions to help with a range of immediate needs including organizing loan files to helping locate members. Since shortly after the hurricanes struck last year, the AACUC has also been working closely with the National Federation of Community Development Credit Unions and the Louisiana Credit Union League to help more than a dozen credit unions with less than $20 million in assets get back in operational mode. The AACUC said it will consider requests from hurricane-impacted smaller credit unions that have an intact, motivated board, a functioning core of employees and a functioning location, even if it's at another credit union.