The National Credit Union Foundation has committed up to $250,000 from its CUAid program to support Puerto Rico-based credit union employees and volunteers affected by Hurricane Fiona.
The grant will be made to the Inclusiv Network (Inclusiv), which will then manage individual donations to those affected by the hurricane. The two organizations previously partnered to coordinate CUAid disaster relief in Puerto Rico following Hurricane Maria in 2017.
To date, Inclusiv has identified 100 credit union employees and volunteers on the island whose homes, vehicles and personal property have been damaged, in some cases irreparably. In addition, several credit unions—or cooperativas—have reported substantial flood damage.
CUAid is a disaster relief fund, administered by the Foundation, that supports credit union employees and volunteers when catastrophe strikes.
“CUAid is the living embodiment of our people helping people philosophy,” said André Parraway, the Foundation’s chief financial and operations officer. “When disaster strikes, the credit union movement responds.”
Historically, the Foundation would solicit donations prior to distributing dollars. Following a series of catastrophic events in 2017, however, CUAid was restructured to be able to provide immediate financial support.
“We have been working around the clock to get a holistic picture of the need in Puerto Rico,” added Pablo DeFilippi, executive vice president of Inclusiv. “We know dozens of credit union employees have been impacted, and several credit unions received damages as a consequence of flooding. This CUAid grant will help those individuals, and the credit unions they work for, get back up and running. That’s an important first step in supporting the rest of the island through what will be a long, challenging recovery.”
Individuals or organizations can contribute to CUAid at any time. The restricted nature of the fund ensures every penny donated goes directly to supporting credit unions and their people recover from catastrophic events.