Two N.J. Credit Unions Work to Provide Aid to Members Affected By Hurricane Irene

Posted by Marissa Anema Wednesday, September 07, 2011 11:20:00 AM

EDISON and TINTON FALLS, N.J. - Even with several powerless days and numerous area road closures, both Pinnacle FCU and United Teletech FCU found ways to get up and running to aid members affected by Hurricane Irene.

Pinnacle FCU traveled through detours to obtain back-up tapes and began operating from its disaster recovery site in Hagerstown, Md. The credit union set-up a phone line for members to call for special requests and all emergency needs of members were met. Pinnacle FCU also took 25 basis points off home equity loans and personal loans up to $5,000 and provided no fee skip-a-pays, both throughout the month of September.

Even with its own power issues, United Teletech put together a variety of options for members impacted by the storm. Existing borrowers were able to increase loans, defer payments and increase credit card limits. The credit union also waived normal documentation fees for new real estate loans and provided various options for unsecured loans up to $30,000. Auto loans, both new and used, were also available for pre-approval in a matter of hours.

Both credit unions also waived and/or reimbursed fees during this difficult time.

"The willingness of these credit unions to step-up and aid impacted members just shows credit unions' 'people helping people' philosophy in action," said Paul Gentile, New Jersey Credit Union League president/CEO. "These are the stories of just two of the 204 credit unions in the state. I am sure there are many more area credit unions stepping up to help members during this difficult time."

If your credit union is also providing members with aid due to Hurricane Irene, please share your story with NJCUL. E-mail news@njcul.org with the information.

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