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National Hurricane Preparedness Week, May 20 - 26

May 22, 2007, Alexandria, VA - President Bush has declared May 20 through May 26 as National Hurricane Preparedness Week. This week is an opportunity to raise awareness of measures Americans can take to protect their families and finances in the event of these weather related emergencies.

NCUA is continually making strides to strengthen its readiness in the event of a hurricane. Recently, the agency improved its contingency processes for information reporting and communication based upon lessons learned from government-wide exercises, contingency operations, and cross-agency working groups. Additionally, the agency will continue to train its staff to ensure they are prepared, knowledgeable, and ready. NCUA updated its examination program last year to ensure all credit unions are prepared for potential emergencies. These items are available on NCUA’s web site by visiting: http://www.ncua.gov/RegulationsOpinionsLaws/proposed_regs/P-748.pdf and http://www.ncua.gov/letters/2006/CU/06-CU-12.pdf. In addition, the NCUA Board recently issued proposed changes to Parts 748 and 749 of the Rules and Regulations addressing catastrophic act preparedness for credit unions.

In the aftermath of a hurricane, having quick access to funds is invaluable. Last June, U.S. Treasurer Anna Escobedo Cabral and NCUA Chairman JoAnn Johnson met to discuss a letter NCUA distributed to credit unions regarding participation in GoDirect, an initiative aimed at protecting Americans by offering seamless delivery of federal benefits, including social security payments. To view the letter to credit unions, please visit http://www.ncua.gov/letters/2006/CU/06-CU-09.pdf. Credit unions can partner with the GoDirect campaign and receive more information by visiting www.GoDirect.org and by calling toll-free: (800) 333-1795.

“Education is vital in order to best prepare Americans for hurricanes and other emergencies,” stated Chairman Johnson. “As Chairman of the MyMoney.Gov website subcommittee, I worked to highlight the helpful educational resources included on the website. During Hurricane Preparedness Week, these resources will be featured on the main page of the website. I encourage credit union members to log on and view this helpful information at www.mymoney.gov.”

Hurricane Preparedness Week also reminds us of the compassion demonstrated by volunteers who are helping to rebuild from previous hurricanes and are standing ready to protect their fellow neighbors. “During my visits to the Gulf Coast region, I have witnessed firsthand the volunteer spirit which is demonstrated by America’s credit unions and I commend you for your dedication and commitment to your members and the community,” said Johnson.

The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund (NCUSIF), insuring the deposits of over 85 million account holders in all federal credit unions and the majority of state-chartered credit unions.