Credit unions across Texas Closed

HOUSTON – Credit unions across Texas and portions of the Gulf Coast this morning are assessing both their own operations and the welfare of their members following Hurricane Harvey’s landfall and severe flooding.

Just Houston alone is home to approximately 118 credit unions, with dozens more in the areas of the state where this morning more than 300,000 people are without electricity. Houston schools will also be closed for the week. San Antonio and Dallas are also homes to numerous credit unions of all sizes.

More than 30 credit unions in Texas will be closed today, according to the Cornerstone CU League.

With forecasters predicting more than 50 inches of rain could hit portions of Texas this week from what is now Tropical Storm Harvey, and relief will be difficult to come by.

Meanwhile, with 10 refineries in the Houston and Corpus Christi areas now closed, gas prices in all parts of the country are expected to rise.

Prior to the storm, NCUA urged precautions be taken, and a number of CUs had already closed branches on Friday. Heading into the weekend, NCUA said it was watching the storm closely and would be ready to assist credit unions with maintaining or restoring operations, if necessary. The agency maintains a hurricane and disaster information page on its website with more material on preparedness and staying safe.

Credit union members with questions may contact the NCUA’s Consumer Assistance Center at 800-755-1030Monday through Friday between 8 a.m. and 5 p.m. Eastern. The NCUA’s Office of Small Credit Union Initiatives can provide urgent needs grants of up to $7,500 to low-income credit unions that experience sudden costs to restore operations interrupted by the storm.

Separately, the Cornerstone Credit Union League, along with the Cornerstone Credit Union Foundation, and CUNA Mutual Group, said in advance of the storm that they had activated their Customer Disaster Response Teams in anticipation of the impact expected by Hurricane Harvey. Financial assistance grants are among the assistance being made available. The organizations said they also stood ready to help coordinate donated equipment and supplies, as well as partner credit unions that could provide temporary office space and/or staffing.

Credit Unions Closed Today

Credit unions that will be closed today, according to the Cornerstone CU League, include AMOCO FCU, Bayer Heritage FCU (Baytown Location), Baylor College of Medicine FCU, Beacon FCU (All branches), Brazos Valley School CU, CTECU Community Resource CU (call center will be open), Cy-Fair FCU, Empowerment Community Development FCU, Energy Capital CU, First Service CU, Houston FCU (Houston-area locations), Houston Fire Fighters FCU, IBEW FCU, 66 FCU, InvesTex CU, MemberSource CU, Members Trust of the Southwest FCU (Houston-area locations), Oak Farms Employees CU, People’s Trust FCU, Port of Houston CU, Premier America CU, Primeway FCU, Resource One CU (Houston-area locations), SPCO CU, Smart Financial CU, Southern FCU, Space City CU, Team Financial FCU, Texas Bay CU, Transtar FCU, USE Credit Union, and Union Fidelity FCU

Smart Financial CU has already said it will be closed on Tuesday.

Among the CUs announcing branch closures over the weekend, according to the Cornerstone Credit Union League: Austin FCU, Beacon FCU, Chocolate Bayou Community FCU, Coastal Community and Teachers CU, Credit Human FCU (Houston office), Energy Capital CU, First Community CU, Greater Texas FCU (Houston offices), Gulf Coast FCU, Houston FCU (Houston area locations)
Houston Highway CU, Houston Metropolitan FCU, JSC FCU, Members First FCU, MemberSource CU, People's Trust FCU, Plus4 CU, Primeway FCU, Sherwin FCU
and Texas Community FCU.

CUTimes 8/28/17