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All but two Ike-struck CUS contacted reports NCUA
ALEXANDRIA, Va. (9/18/08)—As of close of business Tuesday night, the National Credit Union Administration (NCUA) reports that there are only two credit unions—both federally insured and state-chartered—that state and federal credit union authorities have not made contact with yet. Additionally, the NCUA reports there are an additional 32 federally insured credit unions that are not operational at this time. The agency says that its calculations based on member numbers shows that 89% of affected members have access to at least some credit unions services. “This is a major accomplishment given that Texas media is reporting that over 2.1 million residential customers are still without power,” noted John McKechnie III, NCUA director of public and congressional affairs. He added that many credit unions are operating from alternate work sites, shared branch centers, or on generators. In an announcement issued yesterday, McKechnie said the NCUA noted "a very high level of disaster preparedness among credit unions in the Texas and Louisiana coastal areas, with good implementation of contingent record-keeping and off-site operational ability plans." Hurricane Ike struck the Texas and southwestern Louisiana coastline on Saturday.
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