CEDAR RAPIDS, Iowa. — Though 20 Iowa credit unions remain closed due to this week's devastating floods, the largest CU, Collins Community, in this hard-hit city whose downtown is underwater, said Friday it is bearing up well as it tries to restore power and phone service to branches while aiding stricken employees and members.
"It's been absolutely devastating but we are fortunate to have such a dedicated staff," said Richard Benhart, president/CEO of the $470 Collins Community which reported five of its seven branches open.
Collins has already allowed Iowa Community CU of Waterloo to set up a makeshift operation in one of Collins' Cedar Rapids branches "and we're doing all we can to help them out," said Benhart. The Waterloo CU had maintained a Cedar Rapids branch which was closed by floodwaters from the Cedar River, expected to crest today at 32 feet above flood stage.
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Though he has not been directly in touch with them, there are at least two other Cedar Rapids CUs, the $16 million Metco and the $79 million First FCU, with branches or offices in the flood zone.
Meanwhile, in Des Moines where several CUs also closed branches more than 15 employees of the Iowa Credit Union League and subsidiary companies spent Thursday on sandbag duty with hundreds of volunteers trying to hold back the Des Moines River.
Separately, the league said its Iowa Credit Union Foundation has sent out communications to Iowa CUs reminding them about Disaster Relief Grants are available to those in need of emergency assistance. The foundation is also accepting donations to a relief fund.
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