Texas Credit Union Foundation Sends $150,000 in First Wave of Hurricane Katrina Grants

FARMERS BRANCH, Texas – The Texas Credit Union Foundation (TCUF), the charitable arm of the Texas Credit Union League, on Sept. 15 released $150,000 to provide immediate cash assistance to credit union staff members scattered across the Gulf Coast whose lives were turned upside down by Hurricane Katrina. “The Texas Credit Union Foundation is pleased to be able to pitch in to the relief effort by providing direct contributions to people in the affected areas,” said Jill Pharr, TCUF executive director. “In this first phase of relief, our contributions will be used to make direct emergency grants of up to $500 for credit union employees impacted by the storm.” The contributions were made possible by donations to the Foundation from credit unions, their employees and their members. In less than two weeks’ time, TCUF raised nearly $258,000. In addition to previously providing $10,000 in cash assistance to the Louisiana Credit Union League within five days of the storm’s arrival, TCUF on Sept. 15 wired funds to: Louisiana Credit Union League – $50,000, Mississippi Credit Union League – $25,000, Alabama Credit Union League/Foundation – $10,000, and the National Credit Union Foundation – $25,000. “To us, this seems like the logical first step to help credit union employees get back on their feet so they can begin the challenging process of getting their credit unions up and running,” said Pharr. “After all, if credit union employees have no resources, they can’t help their credit unions, which in turn can’t help their thousands of members.” This is just the first wave of grants, Pharr emphasized. “As the affected Leagues continue to identify the needs of their credit union employees, we will continue to make more money available,” said Pharr. “Credit unions across our system have been extremely generous in providing resources to help credit unions, their employees and their members in the Gulf Coast states,” said Dick Ensweiler, president/CEO of the Texas Credit Union League and chairman of the Credit Union National Association. “Now we are working in coordination with state and national organizations to ensure that distribution of these resources is done strategically to get the funds directly into the hands of affected credit unions and their staff members.” -