RALEIGH, N.C.–Coastal Credit Union has contributed a combined $300,000 in unrestricted aid to the National Credit Union Foundation and the World Council of Credit Unions to assist both organizations in their relief efforts in the wake of Hurricanes Harvey, Irma and Maria.
The Foundation’s CUAid program received $250,000 for relief in the mainland U.S. and Puerto Rico, while WOCCU’s Worldwide Foundation for Credit Unions received an additional $50,000 to help credit unions in the Caribbean. Both programs support credit union staff and volunteers.
“Coastal elected to make these grants to our general disaster relief fund in order to offer up the flexibility to shift funding between the individual efforts in Texas, Florida and Puerto Rico as each situation evolves,” said Gigi Hyland, the Foundation’s executive director. “We still haven’t fully assessed the impact to credit unions in Puerto Rico, so having funds in general disaster relief will enable us to act more nimbly once we determine the need.”
The Worldwide Foundation said it is routing assistance through the Caribbean Confederation of Credit Unions (CCCU), which is working to support credit union staff and members who have lost homes, clothing and food. CCCU is responding to “unprecedented damages” over five island nations.
Since issuing a plea for credit unions to help, the Foundation said it has received more than $1.8 million in assistance so far.
“I’m asking our industry peers to consider giving at the same level, or more,” said Coastal’s President and CEO, Chuck Purvis. “If the 100 largest credit unions in the country stepped in to assist in the same way, we could put $30 million in aid into place to help our credit union family in the U.S. and the Caribbean, this week. I initially asked our board of directors for less, and they stepped up and added $50,000 to the total. They immediately recognized the importance of getting credit union employees and volunteers in affected areas back on their feet so then they will be able to assist their own members. It’s the credit union thing to do.”