'Very Hectic' Scene as Credit Unions Assess Damage From Hurricane Laura
The Louisiana Credit Union League reports nearly all CUs in Laura's path suffered some kind of damage - some more than others.
Nearly a week after Hurricane Laura struck the Gulf Coast communities near the Texas-Louisiana border, numerous credit unions are damaged and without power, and the fate of many branches is still unknown.
The Category 4 storm made landfall last week near Cameron, La., with winds near 150 miles per hour and a five- to 15-foot storm surge inland.
In a statement to CU Times, CUNA Mutual Group, headquartered in Madison, Wis., said, “Hurricane Laura was one of the most powerful storms to hit Louisiana and has caused major disruptions to Louisiana’s infrastructure with roads, electricity and phones/internet being down for possibly several weeks. Our Disaster Response Team has worked with the NCUA and the Cornerstone League to make contact with each credit union to see how we can help. We have also sent adjusters out to proactively identify damaged locations so we can better assist credit unions in reopening to serve their members. To date, we have received a few dozen claims with relatively minor damage considering Laura was a Category 4 storm when it made landfall.”
Most of the credit union damage reported so far, has come from the Louisiana communities of Lake Charles, Westlake, Sulphur, DeRidder and Jennings. Credit union officials are calling this area “ground zero.”
CU Times spoke with Louisiana Credit Union League President/CEO Bob Gallman, and he characterized the scene in the southern part of the state as “very hectic.” He said the biggest problem continues to be a lack of power, unreliable running water and structural damage to a lot of buildings and homes.
Gallman shared the latest on-the-ground credit union status report with CU Times that was put together by his team.
Overall, the report stated that “pretty much no one has power or running water” and the estimated time frame to restore power “is anywhere from two to six weeks depending on the area and the extent of the repairs.”
The report bluntly stated, “I don’t expect credit unions to have operational branches in these areas for at least two weeks.”
As of Tuesday afternoon, CU Times has been able to verify that more than 20 credit union branches in the area are “closed until further notice” or listed as “unknown” because phone lines are down, or the credit union website has not been updated or is not functioning.
According to the Louisiana Credit Union League’s report, “most all credit unions in these areas have some sort of damage … some more severe than others.”
The following is a list of some of the credit unions with status updates mentioned in the report:
- Access of Louisiana FCU – Unsure about damages to the credit union. In the process of determining a temporary location to set up operations.
- Beauregard School Employees FCU – Doesn’t appear to have any damage, but they don’t have power.
- Calcasieu Parish Employees FCU – Working on setting up a remote location.
- Calcasieu Teachers & Employees CU – There is damage to the Moss Bluff and Lake Charles offices, but not sure about Sulphur branch yet.
- CSE Federal Credit Union – All credit union locations are closed because of damage, lack of power and/or running water.
- Southwest Louisiana CU – The Sulphur branch is fine, the McNeese St. branch’s drive-thru is totaled, and the Ryan Street branch lost its roof and sustained heavy water damage.
According to the League, they are still waiting to hear from five other credit unions in the area.
The League said it is already offering help through the Louisiana Credit Union Foundation Grant Program. This program is for credit union employees and small credit unions who need emergency assistance.
More information about the grant program can be found on the League’s website.