DES MOINES, Iowa -- Credit union members, employees and volunteers, all victims of the Iowa floods, began receiving $500 relief checks this week from the Iowa Credit Union Foundation which reported Tuesday its disaster fund has now reached $450,000.
The contributions are drawn mostly from Iowa CUs but joining in the fund-raising have been Iowa Central Corporate CU, state league foundations plus the National Credit Union Foundation.
"We had 1,200 applications for grants last week and let me tell our committee spent all day in Cedar Rapids going over the requests," said Angela Drury, secretary of the Iowa Foundation, and chief operating officer of 1st Gateway CU of Comanche.
The hope, she said, is that every deserving applicant will receive the $500 in emergency funds, noting also that the grant committee gave priority to families with children followed by the elderly and disabled.
Meanwhile, cleanup work continued in the hardest hit cities of Cedar Rapids, Burlington, Des Moines, Iowa City, Waterlook where CUs were bracing for an onslaught of applications for loan forbearance and waivers from members.
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