Credit unions from the Mid-Atlantic north should be prepared for Hurricane Sandy, according to the NCUA.
“Credit unions and their members living in the path of Hurricane Sandy need to take safety precautions and prepare for this very serious storm,” NCUA Board Chairman Debbie Matz said Friday afternoon in a statement.
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“We know that an ounce of prevention now will help to prevent problems later,” Matz said. “NCUA stands ready to do what is needed to help credit unions affected by the storm.”
The agency said it is closely monitoring the hurricane’s progress and is reminding members that deposits at federally insured credit unions are insured up to $250,000.
“NCUA is ready to activate the agency’s emergency response plan, if necessary,” the agency said. “NCUA will take steps to assist credit unions in maintaining normal operations or, in the event of a disruption, to restore those services as quickly as possible.”