PORT ARTHUR, Texas — The Ike-battered credit unions of southeastTexas, operating all week on backup generators, skeleton staffs, noInternet and limited member service, were starting at last to getpower Thursday.

“We had our Beaumont branch come on yesterday and two daysbefore that Lumberton, but we've lost the leased building in BridgeCity which is still under water,” declared Erik Shaw, president/CEOof the five-branch, $285 million Fivepoint FCU, describing himselfnow as a certified hurricane veteran of CU calamities.

The Port Arthur CU, fully functioning now except for the BridgeCity branch, withstood Hurricane Rita in 2005 “and here we areagain with a mobile branch operating at our Port Arthur office,which was destroyed by Rita,” said Shaw who spent Thursday up onthe roof doing some patchwork.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.