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Hurricane Season Has Arrived; Foundation Ready to Help CUs in Times of Disaster
Monday, July 7, 2014 6:55 AM

Hurricane season has arrived and the Cornerstone Credit Union Foundation wants to ensure the credit union community is poised to help. One of the Foundation’s primary focus areas is disaster relief to credit union communities. It assists credit union employees in getting back up and running as soon as possible, so they in turn can serve their members.

“The credit union movement is about ‘people helping people’ and we want to make sure credit union employees have the support they need to preserver through adversity,” notes Moran. “The Foundation serves as the repository for credit union disaster donations, which will then be provided in the form of emergency grants for credit union employees.”

The Foundation has established a three-phase process when disaster occurs:

  • Phase I emergency grants are provided to credit union employees to assist with immediate disaster relief needs, such as out-of-pocket costs that may result from being evacuated.
  • Phase II grants are intended to assist credit union employees with significant needs. This is implemented only after the distribution of phase one grants.
  • Phase III grants are intended to follow-up with those credit union employees who suffered catastrophic loss and are still needing assistance after phase two grants have been distributed. This phase begins 180 days after the respective disaster and is dependent on the funds available.

To learn more about the Foundation’s disaster relief program, as well as it other programs and activities, please visit www.cscuf.coop.

For tips on surviving a disaster, please visit the ready.gov website.