For Details, Contact:
External Affairs
email: pacamail@ncua.gov
Fax: (703) 518-6409

Credit Union Service Greatly Improved

September 9, 2005, Alexandria, Va. – Hurricane Katrina temporarily closed 139 federally insured credit unions with assets totally $3.4 billion in Louisiana, Mississippi and Alabama. Currently, 102 of those credit unions representing $3.25 billion and 94 percent of the members have returned to operation.

It is expected that with the combined efforts and assistance of many parties, the remaining credit unions will be operational shortly. This is encouraging news for the members of the impacted credit unions. Even though some credit unions may be operating from back-up sites, members should have access to their funds.

NCUA is the independent federal agency that charters and supervises federal credit unions. NCUA, operates the National Credit Union Share Insurance Fund (NCUSIF), the Federal Fund insuring the savings of over 84 million account holders in all federal credit unions and many state-chartered credit unions throughout the U.S. and its territories. The NCUSIF is backed by the full faith and credit of the U.S. Government.

NCUA’s daily emergency toll-free hotline for Katrina victims will also be available this weekend. The hotline number is 1-800-827-6282, and the agency e-mail addresses by state are:

Alabama: KatrinaAL@ncua.gov
Louisiana: KatrinaLA@ncua.gov
Mississippi: KatrinaMS@ncua.gov