One CU Office Damaged, Others at Risk in California Fires
At least one credit union office has been damaged by the fires raging through California, although that number could increase as the fires ravage several counties in the state, according to officials from the California and Nevada Credit Union Leagues.
An office of the First Technology Federal Credit Union has been damaged, the league said. The credit union is headquartered in Mountain View, Calif.
The league also said that the headquarters of the credit union in Santa Rosa has not been damaged, but that it is very close to a fire that continues to burn.
NCUA officials reported that at least 18 credit unions could be affected by the fires and that some branches have closed or are operating at reduced hours.
The league reported that the home of a staff member of the Sonoma County Federal Credit Union was destroyed.
In addition, Community First Credit Union CEO Todd Sheffield has been evacuated from his home.
The five federally insured credit unions based in Sonoma and Napa counties have 260,084 members, 608 employees, and $3.8 billion in assets. The counties' total 2016 population was 645,236. The credit unions are:
- Sonoma Federal Credit Union, Santa Rosa in Sonoma County ($25.7 million in assets, 1,881 members, 7 employees)
- Redwood Credit Union, Santa Rosa ($3460.9 million in assets, 231,656 members, 519 employees)
- North Bay Credit Union, Santa Rosa ($45.4 million in assets, 2,535 members, 9 employees)
- Community First Credit Union, Santa Rosa ($212.2 million in assets, 19,716 members, 56 employees)
- Silverado, Angwin in Napa County ($43.1 million in assets, 4,296 members, 17 employees)
The league quoted Michelle Hunter, senior vice president of marketing and development of the Credit Union of Southern California as saying that credit union officials could see the flames on two different hillsides burning. She added, however, that the credit union headquarters in Anaheim Hills is out of the path of the fire.
She said most employees at that location are working elsewhere due to street closings and poor air quality.
The league said it is setting up relief efforts through CUAid.