HOUSTON — With credit union property losses expected to reach the millions from Hurricane Ike, scores of Texas and Louisiana credit unions were doing preliminary damage assessment Monday as many flooded branches and headquarters remained closed in areas without power.
“All I know is we need a roof,” wrote Ann Talley, president/CEO of the $310 million Houston Police FCU in a status report filed with the Texas Credit Union League late Sunday night.
And Barbara Stephens, president/CEO of the $28 million Houston Municipal CU reported “flooding in the board room and in the lobby.”
League officials said their ongoing task since the storm devastated many coastal areas and did considerable building damage to downtown Houston has been to make contact with besieged CUs to restore power and phone communications as quickly as possible.
Many CUs said they planned to close Monday with a large number also saying their branches were OK with minimum damage as they expect to conduct normal business on Tuesday.
The $1.3 billion Texas Dow Employees CU of Lake Jackson, which feared it might lose three of its coastal branches as it evacuated 250 employees Thursday from a main branch in Freeport, said all of its branches are fine.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.