The NCUA may be officially closed along with other federal offices Tuesday, but many employees are working remotely and also did Monday, Public Affairs Specialist John Fairbanks said.

The agency Monday activated its National Continuity of Operations plan, and Fairbanks said the NCUA stands by ready to assist credit unions affected by Hurricane Sandy.

The NCUA's Office of Small Credit Union Initiatives alerted low-income designated credit unions in the storm's path they are eligible for Urgent Needs grants to help pay to get back up and running to serve members, Fairbanks said.

Also Monday, Chairman Debbie Matz participated in a telephone meeting of the Financial Stability Oversight Council convened by Treasury Secretary Tim Geithner. 

Fairbanks said FSOC members discussed financial markets and infrastructure as Hurricane Sandy approached the East coast. 

The NCUA released news Monday afternoon that it had officially closed U.S. Central, sending the release as hurricane force winds blew through the Washington area.

CUNA and NAFCU employees also worked remotely Monday and continue to do so Tuesday. Washington's Metro public transportation system will resume regular service Wednesday, which will likely mean the return of federal workers.

Power outages weren't as bad as forecasted in the area: Dominion Virginia power reports the biggest hit, with more than 100,000 customers out of a total 2.5 million without power in Northern Virginia. In the Maryland suburbs, 27,500 were without power Tuesday morning, and some 3,000 are without lights in the District.

 

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