FREEPORT, Texas — When Edward Speed, CEO of the $1.3 billion Texas Dow Employees Credit Union and a private pilot, heard that the $150 million Dow Louisiana Federal Credit Union desperately needed cash in the wake of Hurricane Katrina in 2005, the answer was obvious.
He packed $600,000 in his small plane and, with another Texas Dow executive flew it to Baton Rouge, Louisiana, where Dow Louisiana CEO Jeff Hendrickson accepted it and put it to vital use in the recovery effort.
Now, with Hurricane Ike bearing down on the county where Texas Dow has its headquarters, Hendrickson and Dow Louisiana FCU are returning the favor, not with cash but with something perhaps even more important: practical help to bring Texas Dow back on line and their experience in hurricane recovery.
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"You all were here in a moment's notice when we needed you — and we are going to be there for you," Hendrickson wrote in an email to Speed, who has evacuated with 250 of Texas Dow employees. Hendrickson has offered Texas Dow office space, phone centers, help with ACH and other transaction problems and even sending employees if necessary,
"We will be glad to provide any information to help you all make the best choices for recovery," Hendrickson wrote.
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