By Ray Birch
AMARILLO, Texas—As the massive wildfires in Texas are brought under control, one credit union says it is now working to address the growing needs of members who have been affected by the historic fires, which have torched about 2,000 square miles of grasslands that feed tens of thousands of cattle.
Some 3,600 animals have died, along with two people.
“We’ve committed $2 million in relief loans at below-market rates, and our goal is to approve as many requests as we can” said Marcus Smith, CEO of Education Credit Union. “Our foundation is also matching donations coming in to send to folks in need. As the largest credit union in the Texas panhandle, we feel a social responsibility to get people back on their feet and help to rebuild these communities.”
When the fires first broke out on Feb. 27—power lines belong to Xcel Energy are being blamed—ECU had two branches the organization feared were in danger.
Smith said the $478-million credit union had to shut down its branches in the towns of Stinnett and Borger for about a day, but they have since reopened and suffered no damage.
ECU’s Renea Curry, ViP of the Borger and Stinnett Market, helping fire victim fill out housing paperwork.
Half of Destroyed Homes Uninsured
Education Credit Union said it is aware that 20 homes in Stinnett have been destroyed, and 50% of these homes were uninsured.
The organization said that in addition to helping its members recover, it is seeing needs for funds to support volunteer and city fire departments to repair vehicles to get extra equipment to the fire sites.
“When the fires broke out on February 27, we immediately sprang into action,” said Smith. “On that day we delivered water, snacks and ChapSticks to the Stinnett and Borger fire departments. But, due to the closure of the highway to Fritch, we were unable to reach the Fritch Fire Department.”
Feeding the Hungry
The next day ECU delivered face lotions and supplies for meal preparations to the Stinnett Fire Department, along with fruit, hard candy, gum and snack food to the Fritch Fire Department.
“We also distributed boxed lunches to fire evacuees and law enforcement agencies,” Smith said, who emphasized that during the height of the fires the needs of its communities were ongoing.
ECU’s Tina Hunter, ECU’s president of the Borger and Stinnett market, helping fire victims fill out housing paperwork.
“We came back the next day with an additional 60 boxed lunches that were distributed to state trooper cars, as we learned that linemen from Xcel and Atmos Energy had not eaten while working in affected areas,” Smith continued. “We also reached out to Borger EDC for additional avenues of support. They directed us to the Panhandle Regional Planning Commission, which organized assistance at Fairlanes Baptist Church.”
Smith said ECU team members have helped approximately 70 families fill out aid forms, including for temporary housing.
“During our interactions, we've learned about the dire needs of those affected,” Smith said. “Notably, there's a critical shortage of housing, with many families are unable to secure loans for manufactured homes and site preparation costs. Financial resources and donations are urgently required for long-term recovery efforts.”
Funds for Friends & Family
Added Matt Morgan, executive director of the Education Credit Union Foundation, “Raising money to help those who lost homes and property in these fires is quite simply raising money for our friends and families. The ECU Foundation is only doing what we hope would be done for us if the tables were turned. The Texas Panhandle, though vast, is our community and we exist to help our community.”
The CU’s emergency loan program offers a one percentage point rate discount and a 60-day payment deferral.
“We're doing some adjustments, as far as rates and first-payment options, to get these people back on their feet and to get them things that they need during this incredibly tragic time,” Smith explained, noting members’ needs vary.
‘Proud of Dedication’
Tina Hunter, president of ECU’s Borger and Stinnett markets, said the credit unions efforts have been multifaceted in the near term as it also plans for the long-term recovery.
“I'm proud of our team's dedication and willingness to serve our community during this crisis,” Hunter.