Hurricane Sandy: Assessing Impact, Waiving Fees in New Jersey
New Jersey credit union leaders were working Tuesday to assess the aftermath of Hurricane Sandy while some credit unions were stepping up and waiving fees.
The super storm blasted through the Garden State on Monday, including devastating storm surges that caused extensive flooding throughout the Jersey shoreline cities including Atlantic City and Jersey City and towns along the Passaic River.
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New Jersey media reported that more than 2.4 million New Jersey customers have no power and many roads were still closed.
Paul Gentile, president/CEO of the New Jersey Credit Union League, said Tuesday morning that he had not yet received reports of flooding or wind damages at credit unions.
The NJCUL office in Hightstown was closed Tuesday and so are many credit unions across the state, Gentile said.
“We have been unable to access our branch in Northfield but have been told there is no apparent damage on the outside,” said Virginia Williams, president/CEO of the $117 million Jersey Shore Federal Credit Union in Northfield. “We also have a branch in Rio Grande in a strip mall. This is just four miles outside Cape May (but) no word on the status of that branch yet.”
Cape May is a small seaside city on the southeastern tip of New Jersey and was battered by the hurricane like other cities along the Jersey coastline.
“The Jersey Shore Federal Credit Union board and staff‘s thoughts and prayers are with all those that have suffered in the path of Hurricane Sandy,” said Williams. “We are here to help you. As soon as we can access the building (in Northfield), we will have disaster recovery loans available. During this time all member fees will be waived for those affected by Hurricane Sandy.”
The $230 million First Atlantic Federal Credit Union in Eatontown also said it is waiving fees through Tuesday for all members, including overdraft protection, extended overdraft, returned item and insufficient funds fees for all deposit accounts.
Late fees also will be waived for business and consumer loans, including mortgages, home equity and auto loans.
“We hope these efforts can play a small part in easing some of your concerns following the storm,” First Atlantic FCU said in a statement posted on its website. “We are committed to doing what we can for our members who have been impacted.”