In Case of an Emergency at Your Credit Union

Flooding, wildfires, landslides, hurricanes, tornadoes … all a sign that spring is finally here as well as a sign that your credit union needs to have a solid disaster recovery plan in place. Just in case. 

Having a good disaster recovery plan in place not only reassures your management, staff and members that you’re prepared, but it can also save your credit union money. Every hour of downtime after a disaster can translate into tens of thousands of dollars lost.

So, with the negative signs of spring popping up all around us, here are some tips to consider when planning for disaster recovery:

• Staff preparedness – Make sure your staff knows how you’ll stay in touch in case of a disaster. Maybe set up a special number for them to call for updates.
• Member communication – Part of your plan should include a communications plan for your members as well. Keeping in touch via social media is one of the simplest ways to do this, as well as knowing how you’re going to handle incoming phone calls.
• Rehearse – It’s one thing to have a plan on paper, it’s another to have to implement it. That’s why it’s good to have dry runs and rehearsals of your plan so employees understand what they need to do and what the operating procedures will be.
• Test it – Use a cross-section of staff to develop, test and implement disaster preparedness and response plans at your credit union.
• Multiple solutions – Data storage and recovery can be a major issue during a disaster. Don’t rely on just one system to keep all of your credit union’s information safe. Having a localized and cloud backup in place can save you time and money if you have to restore data.
• Additional backup – Your credit union’s data isn’t the only component that needs a backup. Have an emergency chain of command ready as well as a backup worksite, equipment, vendors and any other resources you use regularly.
• Stay up-to-date – Once you have a comprehensive plan in place, your work doesn’t stop there. Look at the plan as a living document that needs to constantly be updated. Circumstances, resources and technology are always changing, so should your disaster recovery plan.

All of these measures will not only help your staff and members recover and save your credit union money and stress, they will also help keep your credit union compliant. Click here for some useful disaster recovery resources from CUNA and NCUA.  

Whether you have a current plan in place or need to start from scratch, CU Solutions Group can help make sure your credit union is prepared for any disaster. Our solutions include an online recovery manual, vendor management, equipment management and social media planning.