Flooding in Wilmington, NC. caused by Hurricane Florence.
Low income credit unions that were damaged by Hurricane Florence are eligible for urgent needs grants of up to $7,500 from the NCUA, agency officials said Monday.
Credit unions may apply through the NCUA's CyberGrants management system, but credit unions severely affected by the storm may contact heir NCUA examiners to apply.
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The grants may be used to repair or replace credit union office property, machinery, equipment, fixtures, and leasehold improvements. The grants also may be used to help credit unions resume operations, including reconstructing data or reestablishing network systems.
Funds will be provided for assistance that is not reimbursable under an insurance policy.
Credit unions will receive notice of approval within two weeks after they apply. At that point, the credit unions can pay for the needed work and can expect to receive their grants within two weeks after submitting a reimbursement request.
Credit unions with questions about the grants process can contact CURE by email at [email protected] or by telephone at 703-518-6610.
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