MADISON, Wis.–The Worldwide Foundation for Credit Unions said it has initiated its firstProject Storm Break response to assist credit unions and members hit hard by Hurricane Dorian in the Bahamas—the same country where the disaster relief fund was officially launched just over one month ago. The storm has killed at least 20 people.
In the U.S. credit unions in South and North Carolina and north along the eastern seaboard are now bracing for the storm and the heavy rains it is dropping. Dorian had increased in strength as of this report, and SAFE Federal Credit Union has announced closures of its branches in Florence, S.C. and Manning, S.C. for Thursday.
The Worldwide Foundation, the charitable fundraising arm of the World Council of Credit Unions (WOCCUS), said it is $10,000 in Project Storm Break funds to the Caribbean Confederation of Credit Unions. CCCU, in turn, is matching the donation for a total of $20,000 to go toward immediate assistance.
Project Storm Break funds will be distributed to help credit unions provide members and staff with emergency supplies, WOCCU said, adding, “the money will also help credit unions quickly get back up and running so they can provide needed cash and other financial services to their members.
CCCU has already identified one credit union which has suffered flooding up to the second floor of its building and continues to assess Dorian’s impact on credit unions on Grand Bahama and Abaco—the two Bahamian islands that suffered the most severe wind and flood damage.
Helping ‘Get Back in Business’
“We want to help these community-based institutions get back in business and servicing members as soon as possible—even if it is in a parking lot tent or other temporary location for now,” said Mike Reuter, executive director of the Worldwide Foundation. “Getting these credit unions back on their feet is the best step we can take to getting their members back on a path to a sustainable future.”
The Worldwide Foundation described the current effort as just phase one of its response, and said Project Storm Break is open and active to receive financial donations to support both the immediate needs of credit union members and staff, as well as to address long-term rebuilding needs.
Donations can be made directly on our Project Storm Break page.
PSCUin St. Petersburg, Fla. has pledged $25,000 to Project Storm Break, the biggest donation to date.
To ensure an efficient and prompt response to impacted credit unions and the members they serve, The Worldwide Foundation said Project Storm Break is only accepting financial donations. Donations of supplies or other in-kind donations will not be accepted.
As CUTodayinfo reported earlier, The Worldwide Foundation initially launched Project Storm Break at the 2019 World Credit Union Conference in The Bahamas to establish the forward-prepared fund to allow for an immediate response when natural disasters like Dorian strike. It announced at the meeting it had raised $100,000 prior to the meeting’s conclusion.
As CUToday.info also reported, the World Council continues to reach out to credit unions in the Bahamas to assess storm damage, but communication has been difficult. There are nine credit unions in the country.