As Florida recovers from the destruction of Hurricane Milton, the NCUA has resources available to help credit unions affected by the storm.

There are 77 federally chartered credit unions headquartered in the 51 counties under a Florida state of emergency. NCUA examiners have been working to stay in contact with those credit unions, determine their status, and offer assistance as needed.

The NCUA reminds credit union staff to keep in contact, if possible, with local authorities. Credit unions needing assistance should contact their regional offices.

The NCUA’s Office of Credit Union Resources and Expansion can provide Urgent Need grants up to $7,500 to low-income credit unions that experience sudden costs to restore operations interrupted by the storm. Urgent need grants cover expenses that are not reimbursable under insurance policies.

Credit unions may apply for funds to repair or replace credit union office property, equipment, fixtures, and leasehold improvements. Grant funds may also be used to resume operations, such as reconstructing data or reestablishing network systems.

Federal credit unions may provide assistance to other credit unions and non-members in the affected areas under certain conditions:

• They may provide services to members of other credit unions under their correspondent services authority; and 
• They may provide emergency financial services for non-members, including check cashing, access to ATM networks, or other services to meet short-term emergency needs of individuals in the areas affected by the floods, under the authority to engage in charitable activities.

If a credit union provides services on a charitable basis, they may not impose charges for services that exceed their direct costs.