Despite widespread power outages, flooding and closures, early reports Wednesday showed that Mississippi and Alabama credit unions were apparently spared major damage from Hurricane Isaac.

The storm's 80 mph winds and unrelenting rain were pounding New Orleans and surrounding areas Wednesday morning, the seventh anniversary of Hurricane Katrina, a much stronger storm.

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Charles Elliott, president/CEO of the Mississippi Credit Union League, said he has been monitoring 10 major credit unions with extensive branch operations directly in the storm zone.

"I've been in touch with many of our CEOs at their homes and though the roads are washed out on Highway 90 along the coast, we're not seeing the surges anywhere near as bad as we did for Katrina," Elliott said.

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