Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NCUA again expands disaster relief area
ALEXANDRIA, Va. (5/12/11)--The National Credit Union Administration (NCUA) on Wednesday expanded the scope of its disaster relief policy as severe flooding now threatens parts of Missouri, North Dakota and Minnesota. The agency earlier this week activated its disaster relief policy in Tennessee, Mississippi, Kentucky, Louisiana and Iowa. The National Weather Service on Wednesday issued flood warnings along the majority of the Mississippi river, with those warnings stretching far to the north. The river is expected to continue to rise, and the National Weather Service has predicted that it will crest at 64 feet on May 21. Reuters earlier this week reported that 3 million acres have been inundated in Arkansas, Tennessee, and Mississippi. The NCUA expanded its own policy to mirror recent additions to the list of federally-mandated disaster areas. The agency's disaster relief policy is intended to assist credit unions and their members to deal with potential losses. Under the policy, the agency will, where necessary, encourage credit unions to make loans with special terms and reduced documentation to affected members, reschedule some credit union examinations, guarantee lines of credit for credit unions through the National Credit Union Share Insurance Fund, and make loans to meet the liquidity needs of member credit unions through the Central Liquidity Facility. NCUA examiners will survey credit unions operating in flood- and storm-affected counties and parishes. For more on the NCUA’s disaster relief efforts, see the NCUA’s release and prior News Now coverage.
Other Resources

RSS





print
News Now LiveWire
Consumer credit ticks up slightly in Jan http://t.co/nAmR7fyGLi
40 minutes ago
RT @cumagazine: Make a good impression during your #CUNAGAC Hill visits: 8 tips http://t.co/C4gtRbQG2s
1 hour ago
Taking a walkthrough before #CUNAGAC starts this weekend. http://t.co/k9hktHjm9b
2 hours ago
There will be lots of social media action at 2015 #CUNAGAC that starts in D.C. this Sunday. http://t.co/vyP4XbtFbk
2 hours ago
.@AACUC1 is part of a group of credit union organizations to introduce a new mentor program for small credit unions http://t.co/2vFE45ZnEW
2 hours ago