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San Bernardino CU Expects Devastating Impact From Fire

SAN BERNARDINO, Calif. - Gregg Stockdale, CEO of the $29 million San Bernardino Credit Union, said that the recent round of fires in the hills around the community will devastate many of his members. "We have been open for 90 minutes," Stockdale said. "We have already seen 15 members walk...

By Staff Writer | Updated on November 04, 2003

SAN BERNARDINO, Calif. – Gregg Stockdale, CEO of the $29 million San Bernardino Credit Union, said that the recent round of fires in the hills around the community will devastate many of his members. “We have been open for 90 minutes,” Stockdale said. “We have already seen 15 members walk in the door whose only possessions after the fires are the clothes on their backs.” Stockdale explained that many of the credit union’s 4,000 members are city employees whose homes have traditionally been in San Bernardino, in the path of the fires. “We know that one street that was particularly devastated had a number of our members living on it,” he said. Stockdale said that members were relying on the Federal Emergency Management Agency for help, along with insurance, but that the credit union was offering months of grace on any loans the burned out members might have held. He added that, so far, none of the credit union’s employees or boards has lost their homes, but added that he was worried about a board member he called and only heard the phone ringing. “That’s a bad sign,” he said. “As long as you call and the answering machine picks up, you know your house is still standing.”

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