NCUA Expands Disaster Response Outreach to CUs
The NCUA has added four counties in Tennessee and four additional counties in Mississippi to its disaster response efforts as a result of the Obama administration’s additional declarations of disaster areas following last week’s tornadoes and storms.
President Obama has declared Cheatham, Davidson, Hickman and Williamson counties in Tennessee and Chickasaw, Choctaw, Neshoba and Webster counties in Mississippi to be disaster areas. These are in addition to the Alabama, Georgia and Mississippi counties that Obama had previously declared disaster areas.
Under the agency’s disaster assistance policy it can: Guarantee lines of credit for credit unions in affected areas via the NCUSIF; encourage credit unions to make loans with special terms and reduced documentation to affected members; reschedule routine examinations of affected credit unions if necessary; and make loans to meet the liquidity needs of member credit unions through the Central Liquidity Facility.