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Gauging Loan Impact, Iowa CUs Look to 'Katrina' Experience

DUBUQUE, Iowa -- Iowa credit unions, assessing the economic fallout from property damage and job loss on loan portfolios from the calamitous flooding, have started touching base with their Louisiana and Mississippi counterparts for 'Katrina' guidance, the vice chairman of the Iowa Credit Union League said Thursday.

By Jim Rubenstein | Updated on June 19, 2008

DUBUQUE, Iowa — Iowa credit unions, assessing the economic fallout from property damage and job loss on loan portfolios from the calamitous flooding, have started touching base with their Louisiana and Mississippi counterparts for ‘Katrina’ guidance, the vice chairman of the Iowa Credit Union League said Thursday.

“We’re in a quick learning curve so we can know the intricacies and best practices of dealing with FEMA and the other agencies to help our members,” said Joe Hearn, who also is executive vice president of Dupaco Community CU here.

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