Friday, September 12, 2008

Texas CUs, league brace for Hurricane Ike

DALLAS (9/12/08)--Nearly 100 credit unions are in the current path of Hurricane Ike, according to the Texas Credit Union League, which is helping Texas credit unions prepare for the landfall late tonight or early tomorrow morning.

"We have nearly 100 credit unions in Ike's current path, and over 800,000 consumers belong to these credit unions," said Dick Ensweiler, league president/CEO. "Fortunately, we have plans in place to handle the challenges hurricanes bring."

Thursday the league established a "credit union condition information" page on its website to assist employees of its credit unions in disseminating information to their members. It also informed CEOs of all credit unions about the procedures. Information shared will be placed on the league's Disaster Preparation website (Use the resource link).

The league's Disaster Preparation website offers up-to-date tracking of the hurricane's path; links to sites such as the American Red Cross, the Federal Emergency Management Agency (FEMA), the Texas Credit Union Department and the National Credit Union Administration; and downloadable disaster recovery documents.

Members of the potentially affected credit unions can find out if their credit union belongs to the CU Service Center shared branching network by calling 800-919-2872 or visiting its website,, said the league.

"How well you, your family, your home, or business survive a disaster often depends on how well you prepare beforehand," Ensweiler said.

"Hurricane Katrina taught us a valuable lesson on that. Communications and planning is essential, and we are committed to doing our part to ensure our member credit unions and the families they serve are prepared for whatever may come."

The league reminded credit union members in Texas that their funds are secure and insured by the National Credit Union Share Insurance Fund. "As we brace ourselves for the worst and hope for the best, the league wants members to know that it is prepared to serve as a valuable resource for all 500 plus Texas credit unions and the seven million members they serve," Ensweiler said.

As of Thursday afternoon, Hurricane Ike was still a Category 2 hurricane but was strengthening. It was expected to reach a Category 3 and possibly as high as a Category 4 before making landfall on the Texas coast. Because of its size, it is expected to produce violent weather and sea surges in states all along the Gulf Coast.

For a list of credit union closures, see the News Now story in System News, "CU closures announced in Texas."

courtesy of

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