Pelican State Credit Union Refunds $30,000 in Fees to Flood-Affected Members, Defers 1,400 Loan Payments
BATON ROUGE, LOUISIANA – Pelican State Credit Union has refunded over $30,000 in fees and deferred over 1,400 loan payments to aid its members affected by the devastating Louisiana flooding. With 43 employees affected by the disaster, Pelican experienced the chaos after the flood first-hand as businesses closed, cell phones towers went down and residents were evacuated without any access to their accounts.
The credit union immediately deployed its Member Relief Plan, which included refunding fees, granting loan extensions and offering Disaster Relief Loans to help members cover unexpected expenses, such as insurance deductibles and home repairs.
Pelican also created an online hub for disaster relief efforts in the affected communities. Located at pelicanstatecu.com/flood, the webpage was updated daily and provided information on road and school closures, shelter locations, government assistance, volunteer locations, flood assistance and much more. Pelican also provided flood-specific financial education articles from its team of Nationally Certified Credit Counselors on the credit union’s blog, Pelican State of Mind.
“Our biggest priority is our members and their well-being. We strive to provide them with the resources they need during tough times, restore credit union services quickly and ease their burden in any way that we can. We’re here to serve our members, and that’s what you need to focus on during something as tragic and unexpected as the flooding we experienced,” said Pelican CEO Jeffrey K. Conrad.
The historic flooding in Louisiana caused temporary closure of five of Pelican’s locations and brought three and a half feet of water into the credit union’s Denham Springs branch. In order to better assist its members while the rebuilding its flooded branch, Pelican parked a mobile ATM in the Denham Springs branch’s parking lot when the flood waters receded and turned its drive thru into a full-service branch.
Providing relief after the flood is one of many ways that Pelican supports its 11 branch communities across the entire state of Louisiana. Pelican members can also benefit from free one-on-one credit counseling, a variety of convenient products and several opportunities to win cash and prizes throughout the year.