ALEXANDRIA, Va. — In recognition of National Hurricane Preparedness Week, NCUA Vice Chairman Rodney Hood met with Congressman Spencer Bachus (R-Ala.) last week on Capitol Hill to discuss the steps NCUA has taken in this regard.
"NCUA is taking proactive measures to maintain the safety and soundness of the credit union system and protect the financial well being of members in the event of a hurricane, and I appreciate the opportunity to discuss these with ranking member Bachus," Hood stated.
Among the specific actions discussed during the meeting were NCUA's improvement of contingency processes for information reporting and communication and various updates to examination processes, including a proposed rule and letters to credit unions. In the wake of Hurricane Katrina, NCUA had difficulty contacting some of the hardest hit credit unions for days.
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