Hurricane Sandy: Almost 66% of NJ Shared Branch Outlets Open; Governor Orders Flexibility on Late Fees
The New Jersey Credit Union League reported Monday that of the 66 of shared branching outlets in the state, 41 are operating, but 25 are still down.
Even though some credit union branches and offices are still closed because of power outages, many are conducting ACH and online transactions, said NJCUL. Credit unions are asking members to use their online and mobile banking services.
PSE&G, New Jersey’s largest power provider, said Monday about 78 percent of its 1.7 million customers affected by Hurricane Sandy have had power restored. However, 375,000 customers (home and businesses) still have no power.
“We have now restored 95 percent of our customers in our Southern region that includes portions of Burlington, Mercer, Camden and Gloucester counties,” said PSE&G. “As work is completed, crews in South Jersey will be reassigned to work in other parts of the state.
Although there are five substations that remain without power, all in Hudson County, PSE&G expects them to be re-energized on Monday.
Meanwhile, New Jersey Governor Chris Christie signed an Executive Order 107 on Friday pertaining to damages caused by Hurricane Sandy. The executive order directs lenders to be flexible on due dates for loan payments and on late fees.
“Such flexibility is appropriate due to the difficulty that many individuals continue to face following the devastation of Sandy,” the executive order reads.
The NJCUL reported that many of its credit unions had reopened branches with at least limited service but that many others also had branches still shut down awaiting power or other repairs.