(Sept. 24, 2021) Credit unions have long prided themselves as the financial institutions that put consumer members and communities first – and responses to last month’s hurricane by a Louisiana state-chartered credit union are perfect examples of putting that pride to work.
According to the Louisiana Office of Financial Institutions (OFI), Pelican State Credit Union (of Baton Rouge) took several key steps to offer relief to their members, and the community, in the wake of Hurricane Ida. The LAOFI reports that Pelican State told the regulator that the credit union:
- Proactively refunded more than $118,000 in overdraft protection program, non-sufficient funds and ATM fees for charges incurred from Aug. 28 to Sept. 3;
- Made available disaster relief loans, credit card limit extensions, and more time to make loan payments;
- Provided supplies to other credit unions in areas affected by the hurricane and its aftermath, including lunch to the employees of one credit union.
This week, according to LA OFI, the credit union completed its “gas giveaway,” which distributed $7,000 worth of gasoline to residents in hard-hit Terrebone Parish (on the Gulf Coast), offering relief to persons using generators to provide power in the wake of the storm, now more than three weeks ago.
“The efforts of Pelican State, supported by the LA OFI, to lend assistance to those in need at this critical time are a great reflection on the CU Industry in the state and nationwide,” said NASCUS’ Lucy Ito. “The credit union maintains the mission of serving its members above all else – and the state regulator ensures an environment where such service can be provided quickly and efficiently. Congratulations, and thanks, to all.”