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Assistance For Louisiana Credit Unions After Hurricane Ida

by Sep 9, 2021Accounting for Credit Unions

On Monday, August 30, about 80 credit unions were closed in the aftermath of Hurricane Ida. Ten days later many have returned to full operations, but some in the hardest hit areas remain closed or have opened with limited services and may need a little help getting back their feet.

Help For Small Credit Unions

The Louisiana Credit Union Foundation is preparing to issue grants to credit unions that are $25 million or less in assets.  These grants are designed for small credit unions that sustained damage and need financial help to restore operations.

The LCUL disaster grant application form is here.

Help For Low-Income Credit Unions

For low-income credit unions needing to restore operations, the NCUA Office of Credit Union Resources and Expansion offers financial support with urgent needs grants of up to $7,500.00.

NCUA examiners can assist credit unions in applying for those grants.

Help For Credit Union Staff

For Louisiana credit unions in Ida’s path, much of the staff got hit with as much or more damage to their homes than the credit union facilities did.

The Louisiana Credit Union Foundation, from the Louisiana Credit Union League, is offering assistance to credit union employees with disaster grants.

“Credit Union employees that are displaced or incurring extraordinary expenses caused by Hurricane Ida are able to apply for a disaster grant from the Louisiana CU Foundation. Employees are asked to complete an application by clicking the link below.

The Foundation will contact the person that submitted the application with the grant decision, and if grant(s) are approved will ask for ACH information. Please allow up to a week to receive grant decision. 

 — Louisiana Credit Union League

Help From Griffin & Furman, CPA Firm

We are here for the credit union community. For any questions you may have for your credit union, please give us a call.

 

Photo credit: NOAA NWS National Hurricane Center

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