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Carolinas Foundation: CU industry rallies to support Disaster Relief Fund

Thursday, November 3, 2016   (0 Comments)
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The national credit union industry answered the Carolinas Credit Union Foundation’s call last week with a wave of support, resulting in more than $31,000 towards the Disaster Relief Fund. In the aftermath of Hurricane Matthew, the Carolinas Foundation opened its disaster relief grant application process to help credit union members and staff impacted by the storm and subsequent flooding. To date, more than 600 credit union members and employees have applied for aid.


List of contributors to the Foundation's Hurricane Matthew disaster relief as of Wednesday, November 2, 2016.

"When we learned of the struggles the Carolinas Credit Union Foundation were experiencing in helping their members, it didn't take much time or discussion to know we had to offer assistance,” said Vicki Lovett, chief lending officer at Suncoast Credit Union. “We are delighted to be in a position to help and look forward to seeing these communities and families recover.”

The support from the national credit union movement adds to the more than $57,000 already received from local credit unions in the Carolinas. And this spirit of collaboration has been key to helping credit union members and staff, many of whom lost everything, recover after the storm.

“We hope our donation to the Carolinas Credit Union Foundation will help those needing assistance after the horrifying destruction caused by Hurricane Matthew, and give a sense of ease during unsettling times,” said Bruce Brumfield, president and CEO of Founders Federal Credit Union. “At Founders, it is and always has been part of our core beliefs to give back to others—especially our brothers and sisters in the credit union movement—and assist credit unions, their employees and their members in getting back on their feet.”

In collaboration with the Illinois Credit Union League, the Carolinas Foundation will be distributing its first round of grants next week by way of fee-free Visa gift cards. Grant amounts will vary for employees and members, with the highest tier of $1,000 reserved for credit union staff.

Although the Carolinas Foundation had to suspend its grant application process last week due to limited resources and being inundated with applications, the non-profit is looking forward to opening the application process once more, specifically to aid credit union employees.

“The amount of applications we received last month is very telling of the destruction Hurricane Matthew caused, particularly in Eastern NC,” said Lauren Whaley, Carolinas Foundation president. “However, thanks to the support from so many in the industry, we now have additional funds and can offer a second round of grants to credit union employees.”

Credit union staff affected by Hurricane Matthew may contact Lauren Whaley at lwhaley@carolinasfoundation.org to request a grant application form.

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