Credit unions and industry organizations are lining up to donate to relief efforts in response to the earthquake that devastated Haiti on Tuesday.
The National Credit Union Foundation, in accordance with the World Council of Credit Unions, launched CUAID to provide WOCCU with emergency funds for critical needs. The Pennsylvania Credit Union Foundation is assisting in launching CUAid, and the Texas Credit Union Foundation's grants committee has already approved a $5,000 grant to the organization.
"This is not an isolated event that will easily be resolved; rather, this is an international call for action that will take the dedication and support of every one of us," said Angela McCathran, chairman of the TCUF Board and president/CEO of the $420 million People's Trust Federal Credit Union.
Recalling the "fear and tragedy we experienced" when the Loma Prieta earthquake devastated the San Francisco Bay Area in 1989, the $600 million Bay Federal Credit Union established its own fund to provide emergency relief to earthquake survivors through the American Red Cross, said President/CEO Carrie Birkhofer.
The $1.2 billion UW Credit Union of Madison, Wis., has enabled members to donate funds to the American Red Cross through the credit union's online banking system. An icon gives members the opportunity to donate from their credit union accounts upon logging in.