NASSAU, Bahamas–With Hurricane Dorian finally leaving the islands of the Bahamas, credit union organizations and the World Council are working to assess damage.
The Bahamas, which just hosted the world’s credit unions in July, were hit by one of the strongest Atlantic hurricanes on record as the slow-moving storm lingered over the country. Dorian was not expected to finally leave westernmost Grand Bahama area until late on Tuesday night.
According to early reports, the most extensive damage is due to flooding from both storm surge and heavy rains. Government offices, including those involved in storm response, are among those that have been affected. The Abaco Islands are believed to be among the most hard hit, with the first video from the area showing extensive damage.
Kevin D. Harris, director general of the Bahamas Information Center, told the New York Times, “We are already hearing from residents that whole towns have been wiped out or devastated…This is one for the history books.”
According to the Caribbean Confederation of Credit Unions there are nine credit unions in the Bahamas representing a total of 43,000 members and total assets of $403 million.
By coincidence, during WOCCU’s recent World Credit Union Conference the Worldwide Foundation for Credit Unions announced it had surpassed its $60,000 goal in fundraising for its Project Storm Break disaster relief fund, and had hit $100,000 as the meeting was concluding.
Downgraded to a Category 2 storm—but still dangerous—Dorian is now moving its way up the Florida coast with landfall potentially occurring in North Carolina before it continues to move north along the U.S. east coast.
As CUToday.info reported here, numerous Florida credit unions have already announced branch closings.
CUToday.info will provide ongoing updates.