CUNA Mutual said Thursday it has received damage reports from about 25 credit unions in seven states and expects that number to rise as power is restored in the affected areas.
CUNA Mutual spokesman Phil Tschudy said most of the claim reports are for minor building damage in the New York City, Long Island and Jersey Shore areas and that they do not include damage from flooding or storm surge, which is insured through FEMA’s National Flood Insurance Program.
“Power is, and will continue to be a major problem for many days. However, per our findings and discussion with the NCUA all credit unions are operational. Some branches are closed, but members can transact business via the Web, or at other branch locations of their credit union,” Tschudy said.
He added, “CUNA Mutual Group has been proactively reaching out to credit unions in the impacted areas to determine how they are faring, and not waiting for them to contact us for help.”
The CMG spokesman said in cases where it hasn’t been able to contact a credit union, its adjusters are working with authorities to make onsite inspections, including police escorts in some cases.
“These inspections help us determine if damages need to be immediately addressed, if power is on, and if it is necessary to arrange for security to protect the building and its contents,” the Madison, Wis., company said.
Tschudy said anyone with information about credit unions that have not been in touch with its insurer are asked to call 1-800-637-2676.
“Let us know of any problems they are having, big or small, as well as if they are aware of any other credit unions they know of that need help,” he said.
- SANDY NEWS: Nov. 1, 2012 New Jersey CUs Continue Recovery
- SANDY NEWS: Nov. 1, 2012 NCUA Set to Release Affected CUs List
- SANDY NEWS: Nov. 1, 2012 Navy Federal Re-Opens Most Branches
- SANDY NEWS: Nov. 1, 2012 Business Insurance Fracas Looms
- SANDY NEWS: Nov. 1, 2012 NYC’s MCU Reaches Out to Members
- SANDY NEWS: Nov. 1, 2012 Insurance Claims Could Make Storm Third-Costliest
- SANDY NEWS: Nov. 1, 2012 Affinity FCU Set to Re-Open Branches