While it is hard to put a final price tag on the cost of lives, homes and businesses throughout New York that were affected by Hurricane Sandy, federal funds will cover all of New York City's costs, according to a recent report from the city's Independent Budget Office.
About 90% of the total $6.3 billion in Sandy-related emergency and recovery package will be funneled through the Federal Emergency Management Agency. The remaining 10% will be covered with community development block grant funds.
The other good news for the Empire State is that 73% of its credit unions reported a positive return on assets as of Dec. 31, 2012. Statewide, New York's credit unions earned an average ROA of 87 basis points, slightly higher than the national average of 86.
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