The West Virginia floods during the week of June 20 were blamed for 25 deaths, including a member of the $192 million Pioneer West Virginia FCU, according to President/CEO Dan McGowan.
McGowan said he expects the number of members at the Charleston-based credit union who have suffered hardships as a result of the natural disaster to grow.
"This week, we're sure to learn of many tragic stories from other members who have lost their homes, cars, and personal treasures. Naturally, we'll be working with members one-on-one in any way we may to alleviate their hardships," he said.
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McGowan added his credit union is accepting donations to a benevolence fund to assist flood victims among its membership.
However, he said the flooding had no direct impact on the credit union.
"We were up and running throughout the entire branch network without interruption," he said. "None of our staff members had any real problems to address at home either."
Other credit unions in the state have established ways members can help those who suffered losses.
In Parkersburg, the $150 million West Virginia Central Credit Union is accepting donations of household items and clothing, according to Marketing Strategist Whitney Dabbelt. She said her credit union was not directly affected and that on Friday, all items donated will be taken to those counties that were badly hit.
The floods largely spared credit unions and employees, officials in that state said.
"They said they were safe and sound," West Virginia Credit Union League SVP Rich Schaffer said, adding that was good news considering all the bad news in the state. He said credit unions were open for business today.
The NCUA also said it has not received any reports of damage to federally insured credit unions in the state. The worst flooding was confined to rural counties where there are few credit union branches.
NCUA officials reminded credit unions Monday that during natural disasters, the agency may encourage credit unions to make prudent loans with special terms and reduced documentation. The NCUA may also reschedule routine exams, guarantee lines of credit for credit unions and make loans to meet the liquidity needs of credit unions.
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