Stormy Weather: The Weekend Brings Bad News for the Financial Sector
by Ron Daly
Our Friday post had to do with resources available to Texans who had been uprooted by Hurricane Ike. Even as we put together our list, we were uncertain of exactly what was in store. Thousands of people trapped after ignoring the evacuation mandate, thousands more stranded far from home - the picture is grim. But there are those who try to make it a little brighter, bit by bit.
For starters, The Texas Credit Union Foundation is asking for donations to the relief effort.
Click the image above to donate. Special thanks to Brent Dixon at OpenSourceCU.com for breaking the story/providing the source code for the donation buttons. Visit their site to get the code for yourself/your blog/your credit union's webpage.
In a move that some would describe as shocking - and others would describe as the good nature of credit unions shining through in a time of need - Texas Dow Employees Credit Union has offered to delay loan/mortgage payments in the wake of the Hurricane. Their Senior VP of lending, Paul Perdue, put out this video:
But that's not the only big financial news from this weekend. Merrill-Lynch was swallowed by Bank of America, Lehman Bros. filed for bankruptcy, and the stock market hit its worst day since September 11, 2001 (won't link to stories, because they're everywhere already). How are CUs faring in the midst of this? This story from the Times Leader explains the urge for calm and how credit unions view the turmoil.
As someone who was a credit union CFO for a number of years and who has always kept an eye on how the financial industry moves, I'm interested to see what happens next in all these news stories.
Our Friday post had to do with resources available to Texans who had been uprooted by Hurricane Ike. Even as we put together our list, we were uncertain of exactly what was in store. Thousands of people trapped after ignoring the evacuation mandate, thousands more stranded far from home - the picture is grim. But there are those who try to make it a little brighter, bit by bit.
For starters, The Texas Credit Union Foundation is asking for donations to the relief effort.
Click the image above to donate. Special thanks to Brent Dixon at OpenSourceCU.com for breaking the story/providing the source code for the donation buttons. Visit their site to get the code for yourself/your blog/your credit union's webpage.
In a move that some would describe as shocking - and others would describe as the good nature of credit unions shining through in a time of need - Texas Dow Employees Credit Union has offered to delay loan/mortgage payments in the wake of the Hurricane. Their Senior VP of lending, Paul Perdue, put out this video:
But that's not the only big financial news from this weekend. Merrill-Lynch was swallowed by Bank of America, Lehman Bros. filed for bankruptcy, and the stock market hit its worst day since September 11, 2001 (won't link to stories, because they're everywhere already). How are CUs faring in the midst of this? This story from the Times Leader explains the urge for calm and how credit unions view the turmoil.
As someone who was a credit union CFO for a number of years and who has always kept an eye on how the financial industry moves, I'm interested to see what happens next in all these news stories.
Labels: Credit Union News, Credit Union Tech, Credit Unions, Hurricane Ike Texas, Special Reports, Texas Credit Unions, Texas CU
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