As Hurricane Irma moves closer to Florida, the NCUA on Thursday reminded credit unions that the agency is prepared to provide emergency assistance to credit union members and others.

President Trump Thursday issued disaster declarations for the Virgin Island, Puerto Rico and Florida, which makes federal disaster assistance available. Under the NCUA's disaster assistance policy, the agency will, where necessary:

• Urge credit unions to make loans with special terms and reduced documentation to affected members.
• Guarantee lines of credit for credit unions through the share insurance fund.
• Make loans to meet the liquidity needs of members credit unions through the Central Liquidity Facility.
• Reschedule routine credit union exams.

Under certain conditions, federal credit unions are permitted to provide assistance to other credit unions and non-members.

Using their correspondent services authority, federal credit unions may provide services to members of other credit unions.