The NCUA took an active approach to shoring up credit unions and consumers affected by Hurricane Sandy, making use of field examiners who placed phone calls and sent emails to their assigned credit unions in attempt to survey the damage.
The NCUA said on Oct. 30 examiners would ask if credit unions have had to curtail hours, services or locations because of the storm and offered advice, material and technical assistance as needed. The NCUA also worked closely with state regulators and state league organizations so all credit unions knew federal assistance was available, the agency said.
A toll-free consumer assistance hotline was also activated, providing credit union members needed emergency assistance with operators, who will answer calls between 8 a.m. and 5 p.m. Eastern time, Monday through Friday.
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.
