The NCUA on Tuesday afternoon activated its disaster relief policy in response to the devastating storms that have struck Oklahoma in the past couple days.
The policy allows the agency to encourage credit unions to offer special loan terms to affected members, re-schedule routine examinations if necessary, and guarantee lines of credit for credit unions
Also from Oklahoma Tornado:
- Loans to Offer Shelter From the Storms
- Ohio, Kansas, California Joins in Relief Effort
- Pen Air FCU Starts Relief Collections
- Redstone Collecting Donations in Alabama
- Manager Tells Tale of Tinker Safe Survival (video)
- Leagues Chip In, Life-Saving Vault Still Inaccessible
- CUNA Mutual Contacts 57 CUs
- Branch’s Vault Still Stands Sentinel
- Weokie Staff Also Retreated to Vault
- CUNA Mutual Sending Disaster Team
- League, NCUF Assessing Impact
- Tinker Staffers Survive in Safe
“Today, NCUA is reaching out to credit unions in Oklahoma affected by tornados and severe weather to determine their needs in the aftermath of this horrible devastation,” said NCUA Board Chairman Debbie Matz.
“We are opening the agency’s toll-free hotline to answer consumer questions related to their financial services options after the storm,” Matz said. “Oklahomans affected by the disaster should know that their money on deposit at federally insured credit unions is safe.”
The agency said credit union members needing emergency assistance related to the tornados and other severe weather should call its toll-free consumer assistance hotline at (800) 755-1030 and press the appropriate option. Operators will answer calls Monday through Friday between 8 a.m. and 5 p.m. Eastern, the agency said.
The tornado that killed dozens of people Monday afternoon in Moore, Okla., destroyed at least one credit union branch, reports said. All credit unions in the state, however, were open Tuesday, the NCUA said.
The emergency declaration also allows federal credit unions to offer other credit unions, members and non-members help in such areas as check cashing and access to ATM networks.