PLANO, Texas–The biggest problems facing credit unions in Houston today are just being able to make it to the credit union to assess the damage.
As CUToday.info reported, credit unions across Texas and portions of the Gulf Coast are now attempting to assess 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 Monday morning more than 300,000 people were 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.
Jon Gorman, SVP of communications and outreach for the Cornerstone CU League, said flooding and transportation issues are the primary roadblocks in front of Houston CUs now.
“The challenges now are largely transportation based—a lot of credit union staff can’t even make it to the CU to even begin assessing what kind damage there is,” said Gorman, who said water damage is the primary problem in Houston. Damaging winds were the larger issue for credit union located along the coast in southeast Texas, he said.
“We are in an assessment mode, but our disaster response team is ready and prepared to move forward as we begin to learn what credit unions are experiencing and what kind of support and help they need,” said Gorman. “It looks like the weather (heavy rain) will continue through the rest of the week, at least from the reports I am seeing. So this crisis will likely continue.”
Gorman said the league has reps in place and they are working actively to get in touch with credit unions. He noted, however, that areas hardest hit face the worst communications problems and therefore are difficult to reach.
Gorman added that the league has support programs in place.
“Right now we are looking at business continuity and how credit unions can support each other,” explained Gorman. “But we won’t have these answers for some time.”
As CUToday.info reported, more than 30 credit unions in Texas were closed Monday. With forecasters predicting more than 50 inches of rain could hit portions of Texas this week from what is now Tropical Storm Harvey, relief will be difficult to come by.