Hurricanes Katrina and Rita
Frequently Asked Questions:
Information for Credit Union Members in Areas Affected by Hurricane Katrina
September 5, 2005
My credit union is not answering the telephone and/or the web-site is down. I need to contact the credit union. What should I do?
I need cash. How can I withdraw funds from my credit union account?
If my ATM card does not work, what should I do?
How can I find out if my payroll, or another ACH, has been direct deposited to my credit union account?
Where can I find a status report on credit unions affected by Hurricane Katrina?
Is my money safe? What if my credit union was destroyed?
What happens if my credit union has lost my records?
What about the contents of my safe deposit box?
I’m a credit union and want to help. Who should I contact?
Who can I contact for more information?
Information on Commercial Banks and Thrifts
What is NCUA doing to provide regulatory relief and forbearance for federally insured credit unions impacted by Hurricane Katrina?
What are others doing to assist credit unions affected by Hurricane Katrina?
My credit union is not answering the telephone and/or the web-site is down. I need to contact the credit union. What should I do?
In areas heavily damaged by Hurricane Katrina, credit unions may have transferred operations to back-up locations, which are often physically distant from a credit union’s primary office. While credit union staff will be diligently working to re-establish services, it will take some time, especially if telephone service is disrupted or member service staff have been displaced. Often, credit unions have agreements to share facilities, in case of emergency, and your credit union may be temporarily providing service out of a fully functioning credit union in a neighboring city.
Following are some tips on how to contact your credit union.
- Check the credit union’s website for contact telephone numbers and information.
- Call your credit union’s audio-response system for contact telephone numbers and information.
- Contact NCUA, using the toll-free number or email addresses, provided below.
I need cash. How can I withdraw funds from my credit union account?
There may be delays in the processing of transactions and access to accounts, depending on the extent of damage at your credit union. Credit unions will attempt to resume normal operations as quickly as possible.
Following are some tips on how to access funds.
- Try using your ATM card. Even if a credit union is not yet fully operational, it may be able to restore debit (ATM) services.
- Try using your credit card. Credit unions will often be able to restore credit card and debit services before branch operations can be re-opened.
- Try using the credit union shared branching network. Many credit unions belong to a credit union shared branching network, which lets you conduct transactions at local credit unions throughout the United States and in some foreign countries. In the states affected by Hurricane Katrina, many credit unions participated in one or more of the networks supported by CU Services Centers, http://www.cuservicecenter.com/.
- Try cashing a check. Your credit union may be able to confirm balances via telephone, even if data processing services have not yet been re-established.
If my ATM card does not work, what should I do?
If your ATM card will not work, consider other options such as cashing a check in the area where you are located or using a credit card. Many credit unions belong to shared branching networks, and you may be able to withdraw cash at a credit union near your current location. You should also contact your credit union, if possible, to let them know that your ATM card is not working.
How can I find out if my payroll, or another ACH, has been direct deposited to my credit union account?
First, attempt to check account balances using your credit union’s audio-response system, web services, or an ATM inquiry. If you cannot confirm the deposit through those channels, you may wish to try calling your credit union at its branch or emergency back-up location. If your credit union is a member of the shared branching system, you may be able to check balances through a shared branch.
Please remember, this is an emergency situation, if you can confirm your balances through an automated system, please evaluate whether you still need to talk to a credit union employee. There may be other members, lacking access devices or identification, that need in-person service.
Where can I find a status report on credit unions affected by Hurricane Katrina?
NCUA will post a status report on its web site, www.ncua.gov/Katrina/operatingstatus.pdf. If your credit union was affected by Hurricane Katrina and is not included on the status report, please contact NCUA. Please note credit unions outside the area affected by Hurricane Katrina continue to function normally.
If your credit union was affected by Hurricane Katrina and is open, but not listed as operational in the status report, please contact NCUA. After confirming information is accurate, NCUA will update its status report, to reflect the new information provided by employees, credit union members, and officials.
Is my money safe? What if my credit union was destroyed?
Yes, your money is safe. Regardless of when your federally insured credit union will be able to resume operations, your money is still insured by the National Credit Union Share Insurance Fund (NCUSIF). Deposits in a NCUSIF insured credit union will continue to be protected up to $100,000. The NCUSIF is backed by the full faith and credit of the U.S. Government.
What happens if my credit union has lost my records?
Credit unions are required to have contingency plans for all types of disruptions to operations, including natural disasters. Credit unions have backup systems for records, which are housed in safe locations. As needed, financial records can be reconstructed and restored. However, you should retain copies of any financial records in your possession. These records can help to reconstruct your accounts and be used to speed payment of insured deposits, if necessary.
What about the contents of my safe deposit box?
Most safe deposit boxes are located in fireproof and waterproof areas. If possible, contact the branch or office where your box was located to determine the condition of your box. Please note that access to safe deposit boxes located in areas impacted by Hurricane Katrina may be delayed.
I’m a credit union and want to help. Who should I contact?
Please contact NCUA at the numbers below.
Who can I contact for more information?
The National Credit Union Administration (NCUA) has set up telephone and email hotlines for this crisis. Special telephone numbers and email addresses have been established for each state affected by Hurricane Katrina. The hotline can provide information about the operating status of an affected credit union and direct you to a credit union service center near your current physical location.
Information on Commercial Banks and Thrifts
The Federal Deposit Insurance Corporation (FDIC) has information about commercial banks and thrift institutions affected by Hurricane Katrina. They can be contacted at a toll-free number 1-877-ASK-FDIC (1-877-275-3342) or www.fdic.gov.
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