Credit unions step in to support victims of Hurricane Dorian

London Capital Credit Union has joined international fundraising efforts to help people in the hurricane-struck Bahamas

FINANCIAL SUPPORT: The Worldwide Foundation for Credit Unions has launched a major fundraising drive to help people in The Bahamas.

FOLLOWING THE devastation caused by Hurricane Dorian the Worldwide Foundation for Credit Unions has launched a major fundraising drive to provide financial support to those affected in The Bahamas.

Funds are initially being distributed to help provide credit unions, member-owned financial cooperatives,  with emergency supplies.

And among the organisations backing the initiative called Project Storm Break with a financial donation is the London Capital Credit Union.

So far Project Storm Break has already raised almost $200,000 (£162,000).

CASH

The money is also helping credit unions in the affected areas get back up and running so they can provide much needed cash and other financial services to their members.

According to the Caribbean Confederation of Credit Unions, credit unions on the island of Grand Bahama were the hardest hit. 

The Grand Bahama Co-operative Credit Union suffered major flooding and roof damage at its branch in Freeport, the main town on the island.

Four employees, including the branch manager, also lost their homes in the storm.

DAMAGE

In addition, four other credit unions suffered damage to their Freeport branches.

However on Abaco—the other island hardest hit by Dorian—there was at least some good news.

The Teachers and Salaried Workers Credit Union branch in Marsh Harbour suffered no damage, and is located in one of the few structures left standing on the island.

Mike Reuter, Executive Director of the Worldwide Foundation for Credit Unions, said: “We want to help these community-based institutions get back in business and servicing members as soon as possible – even if it is in a parking lot tent or other temporary location for now.

“Getting these credit unions back on their feet is the best step we can take to getting their members back on a path to a sustainable future.”

Elaine Greaves, Director at London Capital Credit Union added: “We’re pleased to have played a small part in the fundraising effort by making a donation from our credit union and we hope other groups and individuals can also support the rebuilding of credit unions in The Bahamas by making their own contribution.”

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