For Details, Contact:
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National Credit Union
Administration 1775 Duke Street Alexandria, VA 22314-3428 Phone: (703) 518-6330 Web Address: http://www.ncua.gov/ |
FOR IMMEDIATE RELEASE |
NCUA Activates Disaster Assistance in Response to Severe Storms in the Southeast United StatesAlexandria, Va., February 8, 2008 -- The National Credit Union Administration (NCUA) has activated its disaster relief policy to assist credit unions and their members affected by the severe storms, tornadoes, winds, and flooding in Arkansas and Tennessee. President George W. Bush has declared an emergency exists in the states of Arkansas and Tennessee and has ordered federal aid to supplement state and local response efforts.
NCUA works with individual state league organizations and state regulators to ensure all federally insured credit unions are aware of NCUA’s available assistance. Region III and Region IV examiners are in close contact with affected credit unions to offer advice and assistance. During disaster conditions, NCUA personnel operate under three priorities:
Member accounts in all federally insured credit unions affected by the storms are insured by the National Credit Union Share Insurance Fund, a federal fund backed by the full faith and credit of the U.S. government.
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