As Lousiana residents take the brunt of Hurricane Isaac's slow and damaging pace Wednesday, the NCUA announced in a release it hasactivated its disaster relief policy.

Under the policy, the NCUA will, if necessary, encourage loanswith special terms and reduced documentation for affected members;reschedule exams for affected credit unions; guarantee lines ofcredit through the share insurance fund; and, make liquidity loansavailable through the Central Liquidity Facility.

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The regulator is also encouraging credit unions to prudentlyalter loan terms for affected members by extending repayment terms,restructuring loans and easing credit terms for new loans.

Credit union leaders may also assist affected residents underthe authority to engage in charitable activities by providingemergency financial services for non-members, including checkcashing, access to ATM networks, or other services to meetshort-term emergency needs of individuals in affected areas.

Federal credit unions providing services on this charitablebasis may not impose charges for services that exceed their directcosts, the agency said.

A federal credit union may also provide services to fellowcredit unions, if those services are authorized for its own membersor as part of its regular operations. Credit unions may charge forthese services, because the authority is part of a federal creditunion's incidental powers, the agency said.

NCUA examiners will survey credit unions operating in affectedareas, the agency said. While many credit unions remain open andoperating business as usual, some affected credit unions and theirbranches may have curtailed hours or services.

During natural disasters, NCUA recruits state regulators andleague organizations to spread the word of available assistance toall federally insured credit unions. Examiners will also remain inclose contact with affected credit unions to offer advice and toprovide material and technical assistance, as needed.

The agency is also reminding consumers that their share depositsat federally insured credit unions remain insured up to $250,000 bythe NCUSIF.

Institutions in need of hurricane related assistance shouldcontact their primary supervisory official. Members needingassistance should call NCUA's Hurricane Isaac toll-free hotline at(888) 584-6847. Operators will answers calls Monday through Fridaybetween 8 a.m. and 6 p.m. EDT, the agency said.