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Disaster Preparedness
‘Lessons Learned’ Through Deliberations
Of CUNA Disaster Preparedness Committee
December 11, 2006
Following is a sampling of key “lessons learned” and identified by the committee during its deliberations on the Credit Union System National Disaster Preparedness Plan. These are based on first-hand experiences of credit union officials and others during and following disasters and catastrophes, and focus on the impact of these events on credit unions, their members and their staffs:
- A coordinated plan for disaster assessment that triggers “next step” activities is essential (this includes a “triage” team to evaluate and coordinate national assistance for leagues, credit unions, credit union staff and members, and to coordinate with federal agencies).
- A communications plan that includes designated and coordinated responsibilities must be established and used (including a toll-free number for news media to use, and an up-to-date national credit union data base that includes such information as names, main office locations, branch, data processor for credit unions, as well as CEO executive staff contact lists).
- “Cash is King.” Members need cash after a disaster or catastrophe – plastic (in an environment of no power and little communications) becomes mostly useless. Credit unions, heeding storm and other warnings, must be prepared to have additional cash on hand, including methods to disburse cash.
- Alternate communication and operation sources are critical to business continuity and disaster recovery (particularly for credit union staff, and for continuing credit union operations from alternate locations).
- While the primary response mission of credit unions is to ensure meeting financial needs of members, donations for humanitarian needs (clothes, hygiene products, housing) for employees at credit unions is necessary to keep those credit unions running – and that should be the focus of CUNA for fundraising efforts.
- Further, an on-line system to raise funds to aid CU people (and move cash efficiently to them) is crucial.
- Regulators must adopt policies and procedures to assess the short- and long-term financial impact to credit unions, and to insurance funds.
Additional strategic business partners should be identified to meet the emergency needs following a disaster.
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