CU Activates Mobile Branch & Emergency Aid to Earthquake Victims

The $40 million Desert Valleys Federal Credit Union headquartered in Ridgecrest, Calif., near the epicenter of two recent earthquakes, sprang into action to help local families impacted by the Southern California earthquakes.

The first 6.4 magnitude earthquake struck near Ridgecrest on July 4, and a 7.1 magnitude quake struck the subsequent day in the same area, it was the strongest to hit the region in 20 years. The quake could be felt in cities as far away as Phoenix, Ariz., according to the Associated Press.

Being at the epicenter of impact, Dessert Valleys FCU recognized the need to provide help to members and the community and made a $1 million commitment to support families impacted by the earthquakes in the region.

The credit union is also offering a $1,000 loan for 90 days at 5% interest and short-term assistance for members to purchase everyday expenses, including groceries, medicine, and to offset other costs to ensure their homes are safe for living while waiting for insurance money. As of the evening of July 8, nearly 30 members had applied for the loan. The credit union is expecting more applicants in the coming days, according to a press release from Dessert Valleys FCU.

“Getting emergency funds into the hands of people in need is our focus,” Eric Bruen, Desert Valleys FCU CEO said. “People are replacing food, medical supplies, and other necessities as quickly as possible. When combined with the possibility of being without work for a few days, we want to provide at least a financial piece of mind to our community.”

The credit union is also sending its mobile branch to Trona, Calif. each day to serve members who need on-the-spot services, and it will also haul supplies to residents when possible.

The credit union activated Desert Valleys Employee Foundation, the charitable arm of the credit union, to receive donations from those in the credit union system and local community who feel compelled to contribute, with funds going directly to individuals and families who need help the most, according to a press release from Dessert Valleys FCU.

The foundation’s contributions will be used toward grants for homeowners who need significant repairs and other assistance.

Bruen said those suffering the most are residents and credit union members living in modular and manufactured homes where foundations or building strength was compromised. Some families have no access to electricity, natural gas or running water and are camping in remote areas with limited supplies. First aid, food, water and other living/cooking resources are pouring in from local agencies and organizations.

“If you talk to anybody in Ridgecrest, you’ll hear about more than just the internal damage on their homes,” he said. “When you get hit twice like we did, and with the number of aftershocks that kept coming, it hits people emotionally. We want to get these people back to as much of a normal life as possible,” emphasized Bruen.

According to Desert Valleys FCU, the California and Nevada Credit Union Leagues will be monitoring the situation in the coming days as local credit unions continue serving their members.