ALEXANDRIA, Va.-NCUA has put its disaster relief policy in motion to aid credit unions and members with homes and businesses damaged by the recent flooding in several counties throughout Texas, including Atascosa, Bexar, Blanco, Brown, Caldwell, Comal, Eastland, Frio, Goliad, Gonzales, Guadalupe, Hays, Karnes, Kerr, La Salle, Medina, Real, Taylor, Travis and Wilson. Region V examiners are communicating with affected local federal credit unions for advice and assistance. Under the disaster assistance policy, NCUA will: 1.
Encourage credit unions to make loans with special terms and reduced documentation to affected members; 2.
Reschedule routine examinations; 3.
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Guarantee lines of credit for credit unions through the National Credit Union Share Insurance Fund; and 4.
Make loans to meet the liquidity needs of member credit unions through the Central Liquidity Facility. The top priority in a disaster situation is to ensure the safety of the credit union's staff. If possible, keep the facilities open to members. Other credit unions should provide materials and technical assistance as needed to the affected credit unions. The Texas Credit Union League is also working with the agency to ensure all federally insured credit unions are aware of NCUA's assistance. NCUA and the Texas state supervisor have issued joint guidelines to assist credit unions with members affected by the flooding.
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