We don't know the full extent of the damage in our communities yet, but we have a plan and commitment for helping our members rebuild.
From the
TDECU assists members in weathering Ike
TDECU wants to reassure its more than 125,000 members that there is no cause to worry financially. Whether their situation finds them unable to make a loan payment or in need of an emergency loan to make post-hurricane repairs, TDECU has them covered.
“First and foremost, we want our members, which also includes our employees, to stop and take a deep breath. The last thing they need to be concerned about right now is a pending loan payment or what affect a missed payment will have on their credit score,” said Edward C. Speed, President and CEO of TDECU.
During its 54-year history, TDECU has seen its members through a number of emergency situations, including the devastation wrecked by Hurricane Carla in 1961 and Hurricane Rita in 2005. As a result, TDECU has deep experience in assisting members in such heightened states of alarm.
“We helped our great-grandparents, grandparents and parents get through Hurricane Carla, and we’ll all get through Ike together,” said Speed. “We’ve done it before and we’ll do it again.”
First, while in evacuation mode, TDECU members can access their funds from any of the credit union’s 32,000 surcharge-free Allpoint™ ATMs and are able to withdraw up to $1,000 in available funds daily and can make up to $5,000 in purchases. Members can also request an increase in their line of credit. As members return home and assess damage, they can turn to TDECU for a loan for cash for living expenses, to repair homes, to replace vehicles, to replace the destroyed contents of their business or for other immediate financial needs.
TDECU also wants to reassure its members that have existing loans not to worry about making or missing a payment. TDECU has activated its Universal Skip-a-Payment program, allowing its members to skip their next regular loan payment to TDECU.
“In the past, we have deferred loan payments due to fires, plant shutdowns and other disasters. Ike is no different. We don’t want our members to worry. We are standing by to work with them. If they can’t make that loan payment, we understand. Go ahead and skip it. As a not-for-profit financial institution, we can wait,” said Speed. “Our members need only contact us and we will jump into action to assist them and get them the help they need.”
TDECU members needing assistance can visit www.tdecu.org or call the TDECU emergency hotline at 1-800-839-1154. On the Web site, members can find up-to-date information on Hurricane Ike and TDECU branch closures. TDECU’s blog found at www.tdecu.wordpress.com is also being constantly updated with information for the public and its employees and members. About TDECU Founded in 1955, TDECU is a not-for-profit financial cooperative with over 125,000 members and more than $1.3 billion in assets. TDECU currently has 14 branch locations and offers a complete selection of convenient, innovative, and competitive products and services — including savings, checking, certificates of deposit, IRAs, money market accounts, auto and home loans, credit cards, free online banking and bill pay, investment services, and much more. Members can also access over 32,000 surcharge-free Allpoint™ ATMs nationwide.
