National Credit Union Administration
1775 Duke Street
Alexandria, VA 22314-3428
Phone: (703) 518-6330
Web Address: http://www.ncua.gov/

Media Contact: Cherie Umbel
Phone: (703) 518-6330
Fax: (703) 518-6409
Email: cumbel@ncua.gov

NCUA News Release
FOR IMMEDIATE RELEASE

NCUA Disaster Assistance Activated for Texas Hurricane Victims

Alexandria, Va., July 21, 2003 -- The National Credit Union Administration has activated its disaster relief policy to assist credit unions and members in counties eligible for disaster relief assistance in Texas where offices and homes were destroyed by wind, rain and flooding caused by Hurricane Claudette. President Bush authorized the Federal Emergency Management Agency (FEMA) to provide aid, and FEMA designated the Texas counties of Calhoun, Jackson, Matagorda, Refugio and Victoria eligible for aid to stricken residents requiring assistance. Damage surveys are continuing, and FEMA may expand its designation to include additional counties based on assessment results.

NCUA examiners and staff are in close contact with federal credit unions in the designated counties to determine any immediate needs and to offer advice and assistance.

Under its policy, the NCUA will, as needed:

• Encourage credit unions to make loans with special terms and reduced documentation to members whose homes and property are damaged;
• Reschedule routine examinations of affected credit unions; and
• Guarantee lines of credit for credit unions through the National Credit Union Share Insurance Fund and the Central Liquidity Facility.

During disaster conditions, NCUA personnel operate under three priorities:

• Ensure the safety of credit union staff.
• Keep facilities and operations available to members.
• Provide material and technical assistance, as needed, to affected credit unions.

The National Credit Union Administration, governed by a three-member board appointed by the President and confirmed by the Senate, is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 80 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.

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