NCUA urges Credit Unions in the path of Hurricane Milton to prepare
ALEXANDRIA, VA (October 9, 2024) — Credit unions in the path of Hurricane Milton are advised to take precautions, including measures to protect their staff and secure their operations, as the storm intensifies in the Gulf of Mexico.
Hurricane Milton’s projected path has it making landfall near Tampa, on Florida’s west coast, late Wednesday night.
The NCUA maintains a hurricane and disaster information page on its website as well as on MyCreditUnion.gov. The National Hurricane Center has regular updates on the storm as it approaches landfall, and the Department of Homeland Security has additional information on being prepared for hurricanes.
Credit union members with questions may contact the NCUA’s Consumer Assistance Center at 800.755.1030, Monday through Friday between 8 a.m. and 5 p.m. Eastern. The NCUA will be ready to assist credit unions with maintaining or restoring operations, if necessary.
The NCUA’s Office of Credit Union Resources and Expansion can provide Urgent Need grants up to $7,500 to low-income credit unions that experience sudden costs to restore operations interrupted by the storm. Urgent need grants cover expenses that are not reimbursable under insurance policies. Credit unions may apply for funds to repair or replace credit union office property, equipment, fixtures, and leasehold improvements. Grant funds may also be used to resume operations, such as reconstructing data or reestablishing network systems. Contact CURE with any questions about the urgent need grants process by email at CUREAPPS@ncua.gov or by telephone at 703.518.6610.
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 135 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.
