Inside the Foundation  
 
Foundation Poised to Help CUs Impacted by Flooding
Tuesday, October 23, 2018 7:00 AM

The Cornerstone Credit Union Foundation reminds credit unions that it is poised to help credit union volunteers and employees impacted by the recent flooding in Texas.

“In times of crisis, the Foundation is here to help our credit union board members and employees get back on their feet so they can be there for their members," says Foundation Executive Director Courtney Moran. "Disaster Relief grants can help them do just that, and we encourage those affected to seek the assistance they need."

Disasters are identified as fire, wind, hail, or flood damages to an individual’s primary home or vehicle. As a reminder, the Foundation's Disaster Relief Program is carried out in three phases.

Phase I
Emergency grants are provided to credit union volunteers and employees to assist with immediate disaster relief needs, such as out-of-pocket costs that may result from being evacuated, insurance deductibles, and initial property repairs. Phase I grants are available up to $1,000 per individual within 60 days after the disaster has struck. The intent of these grants is to help stabilize the individual's situation so they are able to return to work.

Phase II
Disaster relief grants are intended to assist credit union volunteers and employees with significant needs. Phase II will be implemented following the distribution of Phase I grants. Amounts of grants will be dependent on the amount of disaster relief funds available, up to $5,000. The Foundation will issue a call to the CEOs of affected credit unions for Phase II grant applications, beginning 90 days after disaster has struck.

Phase III
Phase III grants are intended to follow up with those credit union volunteers and employees who suffered catastrophic loss and are still needing assistance after Phase II grants have been distributed. Phase III will begin 180 days after the respective disaster and are dependent upon available funds.

If your credit union volunteers or employees have sustained damage from the floods, please contact the Cornerstone Credit Union Foundation at 800-953-8283 or view the disaster relief application via the website, cscuf.coop/apply_for_grants.html.