All eight credit unions in flooded Minot, N.D., were operating with skeleton crews Thursday as employees left their jobs to help displaced friends and families find shellter under evacuation orders impacting a quarter of the community's 40,000 residents.
Only the $16 million G.E.M. FCU was facing a loss of its building as it relocated its operations to two other CUs on higher ground, the $12 million Ascentia FCU and the $70 million Prairie FCU.
The Credit Union Associatiion of the Dakotas has set up a special Emergency ScholarshipFund to help pay hotel and travel expenses for displaced CU employees forced to find shelter in Bismarck, the nearest large city and about 100 miles south of Minot.
“We understand the flooded conditions are expected to last two weeks,” said Jeff Olson, vice president of advocacy and awareness. The swollen Souris River is already at eight to 10 feet above the high water record of 1969, he said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.