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Real-time, Digital Small-Dollar Loans Offer Relief in Disaster-Prone Regions

CUs are locally-focused, accessible and financially-stabilizing resources for those displaced by natural disasters.

By Seth Brickman | July 07, 2023 at 09:00 AM
Satellite view of night over America with masive hurricane in Caribbean. 3D illustration. Elements of this image furnished by NASA Credit/AdobeStock.

In this new era of multi-seasonal, nature-related disaster events affecting nearly every region in the United States, one may or may not believe that federal agencies would be prepared to assist those affected most by the disaster – a large portion of whom reside in low-income neighborhoods and communities.

By the looks of the last two decades or so, those agencies have appeared to routinely fail in providing critical and budgeted financial assistance to the disaster survivors who need it most. Based on internal documents from within the Federal Emergency Management Agency (FEMA), low-income survivors of hurricanes are less likely to receive disaster funding to repair their damaged homes or cover the cost of rent compared to the more affluent survivors.

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