NCUA Provides Assistance to Credit Unions Affected by Flooding in Texas

Strategic Insights -

As severe storms and flooding struck Texas, the National Credit Union Administration (NCUA) is closely monitoring the situation and has resources available to help credit unions affected by the disaster. NCUA examiners are working to stay in contact with credit unions in the affected areas, determine their status, and offer assistance as needed. The agency is committed to ensuring that member deposits at federally insured credit unions remain protected by the National Credit Union Share Insurance Fund, which has the backing of the full faith and credit of the United States.

Key Takeaways:

  • The NCUA is monitoring the situation in Texas and has resources available to help credit unions affected by the flooding.
  • NCUA examiners are working with credit unions in the affected areas to determine their status and offer assistance as needed.
  • Member deposits at federally insured credit unions are protected by the National Credit Union Share Insurance Fund up to $250,000.
  • The Share Insurance Fund also separately protects IRA and KEOGH retirement accounts up to $250,000.
  • The NCUA will reschedule routine examinations of affected credit unions, guarantee lines of credit through the Share Insurance Fund, and make loans to meet the liquidity needs of member credit unions through the Central Liquidity Facility.
  • Low-income-designated credit unions affected by emergencies can apply for Urgent Needs grant assistance to repair damage or restore services to members.
  • Credit unions needing NCUA assistance should contact their primary supervisory examiner or the NCUA's Consumer Assistance Center.

Statistics:

  • Up to $250,000 in insurance coverage for individual accounts and joint accounts combined through the National Credit Union Share Insurance Fund.
  • $250,000 in insurance coverage for IRA and KEOGH retirement accounts through the National Credit Union Share Insurance Fund.
  • 8 a.m. to 5 p.m. Eastern is the key contact time for the NCUA's Consumer Assistance Center.
  • Resources available to help credit unions affected by the flooding include loans with special terms, reduced documentation, and emergency grants.

Sources:

  • The National Credit Union Administration (NCUA)
  • NCUA's Consumer Assistance Center
  • National Credit Union Share Insurance Fund
  • Central Liquidity Facility
  • Urgent Needs Grants
  • https://ncua.gov/newsroom/press-release/2025/ncua-monitoring-and-assisting-credit-unions-affected-flooding-texas