COLUMBIA, SC (September 30, 2024) — The Carolinas Credit Union League, in coordination with the Carolinas Credit Union Foundation, is actively receiving and responding to reports from member credit unions affected by Hurricane Helene. Credit unions in the Carolinas have reported disruptions ranging from flooding to power outages to structural damage at select branches and administrative offices with the greatest impact occurring in the Upstate region of South Carolina and in Western North Carolina.
“Wide-spread power outages are presenting the greatest challenges to credit unions in South Carolina’s Upstate at this point,” shared League President and CEO Dan Schline. “The damage appears to be most severe in Western NC, where catastrophic flooding and landslides have decimated entire communities. These communities are without power, access to drinking water, and many residents are accessing shelters.”
“We’re still learning more about all of the impact on credit union operations,” Schline continued. “We do know that credit unions are, of course, actively reaching out to help and support the communities they serve. It will be a long road to recovery and the League will be working side by side with the Carolinas Foundation to support credit union employees that need assistance.”
The Carolinas Credit Union Foundation’s Disaster Relief Fund is providing aid for credit unions, employees and volunteers directly impacted by Hurricane Helene. Credit union employees and volunteers can receive grant assistance for immediate needs such as, but not limited to food, temporary shelter, housing, gas, transportation, and insurance deductibles. Also included are lodging costs due to temporary displacement, relocation costs due to evacuation mandates and personal property losses incurred that were not reimbursed by insurance.
“The need is great as we continue to hear reports from credit unions in these severely affected regions of the Carolinas,” noted Carolinas Foundation President Lauren Whaley. “Many employees are still unreachable because of power outages and lack of cell service. We are working quickly to process applications from credit union employees who have sustained damage to their home or are facing expenses because of displacement. The goal is to get impacted employees back on their feet quickly to ensure credit unions can resume full operations to serve the needs of their communities.”
Grant funding is made possible through contributions to the Carolinas Foundation’s Disaster Relief Fund, which has provided nearly $3 million since its establishment. Every dollar donated to the fund is directly distributed to support its intended purpose. The Foundation has launched its first phase of funding with grants up to $1,500 to employees and volunteers.
“The power of our movement’s ‘People Helping People’ philosophy is most evident in times of disaster,” adds Whaley. “Credit unions across the Carolinas are already demonstrating their generosity. Donations to the Foundation’s Disaster Relief Fund are coming in from both individuals and credit unions. Additionally, several credit unions not directly impacted are organizing supply deliveries and collecting donations to support local agencies with cleanup efforts.”
The Carolinas Credit Union League is the not-for-profit association of credit unions throughout North and South Carolina. Established in 2014 with a commitment to the cooperative spirit, the Carolinas Credit Union League is credit unions’ primary advocate and much more, promoting their success through risk and compliance resources, professional development, product and service enhancements, and back-office support.
Courtney Jackson
Director, Integrated Communications
919.457.9076
cjackson@carolinasleague.org
