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Dangerous floods damage CUs in Tennessee
NASHVILLE, Tenn. (5/5/10)--Several credit unions reported water damage and branch closings after historic floods in Tennessee killed at least 18 people statewide and swept away homes and vehicles over the weekend. About 27 deaths reported in the Southeast as of Tuesday were caused by the flooding. More than 13 inches of rain fell at the Nashville airport, with higher totals reported elsewhere in the region. Tennessee’s Cumberland River is receding, but the city of Nashville faces a long recovery from the historic flooding, said (May 4). Many Tennessee residents also faced power outages, blocked highways, and evacuation from their homes, and were required to conserve water. Cynthia Dunn, research specialist at the Tennessee Credit Union League, said several credit unions reported damages. Old Hickory (Tenn.) CU closed all six of its branches Monday. One branch remained closed on Tuesday. That branch sustained water damage, Dunn told News Now. Leaders CU, Jackson, experienced two to three inches of water in 60% of the interior of the credit union. The credit union was drying out and had ripped out its carpet, Dunn said. Fort Campbell CU, Clarksville, sustained water in its parking lot but no damage. LMPCO Employees Credit Association, Lexington, had water under its front door but no damage. The Tower Branch and Goodlettsville branch of Southeast Financial CU, Franklin, closed Monday due to flooding, according to the credit union’s website. Tennessee Employees CU, Nashville, was not affected by the flooding. It is located in a state office building with a generator so it did not have a power outage. None of the credit union’s employees had damages at their homes, said Sherrie Brooks, CEO. “Everyone seems to be okay,” she told News Now. “We’re very fortunate.” However, one of the credit union’s members called Tuesday saying that she had lost her home and car. “We’re trying to get her financing for a new car,” Brooks said. The Opryland Hotel, located in Nashville, was evacuated as a result of the flooding. The hotel has hosted credit union conferences in the past, including those of the Credit Union National Association. News Now also contacted the Tennessee Department of Financial Institutions. The department said it did not have an exact count of credit unions that were closed, but credit unions with affected branches have been doing a good job of letting their members know which branches are open.
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