Residents living along the Red River in Minnesota and North Dakota and points south are assessing the damage from the recent historic flooding.  President Obama has already issued emergency and disaster declarations for both states.  Numerous organizations and government agencies including FEMA, the U.S. Army Corps of Engineers, National Guard, U.S. Coast Guard, the Salvation Army, and the American Red Cross are already onsite.

The American Red Cross is offering flood victims emergency shelter, food, water and assistance helping locate loved ones.  To find a nearby shelter call 1-800-REDCROSS (1-800-733-2767) or 1-866-GETINFO (1-866-438-4636).  You can search for a loved one or list yourself as safe and well for concerned friends and family members by visiting the organization’s “Safe and Well List” at: https://disastersafe.redcross.org/.

The Federal Emergency Management Agency (FEMA) has deployed Mobile Disaster Recovery Centers (MDRCs) to help victims begin the process of obtaining federal aid under the agency’s Individual Assistance program. To locate a nearby center individuals can contact FEMA at 1-800-621-FEMA (3362) or TTY: 1-800-462-7585. FEMA has also opened a Family Registry and Locator System free of charge for those separated from loved one by the flooding. Call 1-800-588-9822 to register yourself or inquire about the status of a potential flood victim.

With weather still keeping the flood alert levels high, if you or a loved one anticipates the need to evacuate quickly, pull together the items you’ll need outlined in our article on When Emergency Strikes.  If you would like to help disaster victims like people affected by the Red River flooding read our article on Giving Wisely.

Affected residents of presidentially-declared disaster areas are typically eligible to apply for numerous sources of assistance including:

• tax relief from the IRS such as extensions to file or pay taxes, waiver of certain fees, the option to file an amended return, and the ability to claim disaster-related casualty losses on their federal income tax return (learn more through the IRS’ Publication 584 “Casualty, Disaster and Theft Loss Workbook”)
• loan modifications from banks and lenders
• help obtaining temporary housing, repairing and/or replacing destroyed housing and possessions and paying for medical and funeral costs through FEMA’s Individuals and Households Program (IHP)
• an Economic Injury Disaster Loan (EIDL) up to $1.5 million from the U.S. Small Business Administration (SBA) to help small, non-farm businesses continue paying bills and maintaining operations
• low-interest loans and grants from the SBA for homeowners and renters who need to replace personal property damaged by the flooding
• financial assistance from the USDA Farm Service Agency to repair or restore farm property 
• federal or local unemployment assistance for people who would not otherwise be eligible for benefits under a state’s regular unemployment insurance programs

If you or a loved one live in an area that was significantly impacted by flood-related damage consider what you may need to plan for when Rebuilding After a Widespread Disaster.  In addition, read more about flood insurance and other forms of disaster insurance that you may want to consider for future financial protection.