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PASADENA, Texas — The Ike-suffering credit unions along the Texas coast began last week waiving payments and reducing rates and are now seeing the expected spike in disaster relief loans, with the $205 million Texas Bay Area CU already making 400 loan extensions worth $3.5 million.

Texas Bay, located in this Houston suburb, said the CU, which was witnessing a jump in new member applications, is providing $500 disaster relief loans “with higher dollar amounts available,” said Paul Withey, vice president of strategic development and public relations.

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