The NAFCU Journal November-December 2019 - 33

By Thomas A. Barstow

T

he leaders at Cobalt Credit
Union diligently prepare for
disasters, with a core team
of workers meeting monthly
to review plans. The Nebraska-based
institution works the details and studies
various ramifications, assuming a
tornado might be the unknown menace
that eventually could devastate its communities. But this spring, historic levels
of rainfall and snowmelt brought flooding that dislodged homeowners, ruined
businesses and wiped out large swaths of
farmland in Nebraska and Iowa.

"These were areas that haven't flooded
in the past, and many didn't have flood
insurance," says Gail DeBoer, CEO of
Cobalt Credit Union. A bridge that was
destroyed during the March storms only
recently reopened. "Getting back to normal is really going to be a struggle."
While they never really considered
flooding as an event to anticipate, the

THE NAFCU JOURNAL NOVEMBER-DECEMBER 2019

credit union's leaders determined that
all their contingency planning laid the
foundation for quick and effective action
when members needed it most. 
"For us, it is about being ready to serve
our members at all times no matter the
crisis or the situation," DeBoer says.
That sentiment is echoed by experts who
study disasters and how they can affect
credit unions and their members. The
key, they say, is planning. And then more
planning. Tina Love, vice president of
claims and recovery at Allied Solutions,
says being ready to respond effectively to
a disaster of any kind takes having a plan
that is exhaustive yet not set in stone.
"Create and manage a 'living' [contingency] plan that allows for changes to be
made before, during and after catastrophic events," Love suggests. "Make
sure that you continually update your
plan at least on an annual basis."

33



The NAFCU Journal November-December 2019

Table of Contents for the Digital Edition of The NAFCU Journal November-December 2019

The NAFCU Journal November-December 2019
Contents
Conferences
From the Chair
Washington and Industry Briefs
The Bottom Line
Welcome, New Members
Leading the Charge
Test for Success
Test for Success
Executive Spotlight
Management Insight
Compliance Central
Inside NAFCU Services
From the President’s Desk
The NAFCU Journal November-December 2019 - The NAFCU Journal November-December 2019
The NAFCU Journal November-December 2019 - Cover2
The NAFCU Journal November-December 2019 - Contents
The NAFCU Journal November-December 2019 - 2
The NAFCU Journal November-December 2019 - Conferences
The NAFCU Journal November-December 2019 - From the Chair
The NAFCU Journal November-December 2019 - 5
The NAFCU Journal November-December 2019 - Washington and Industry Briefs
The NAFCU Journal November-December 2019 - 7
The NAFCU Journal November-December 2019 - The Bottom Line
The NAFCU Journal November-December 2019 - 9
The NAFCU Journal November-December 2019 - 10
The NAFCU Journal November-December 2019 - 11
The NAFCU Journal November-December 2019 - 12
The NAFCU Journal November-December 2019 - Welcome, New Members
The NAFCU Journal November-December 2019 - 14
The NAFCU Journal November-December 2019 - 15
The NAFCU Journal November-December 2019 - 16
The NAFCU Journal November-December 2019 - 17
The NAFCU Journal November-December 2019 - Leading the Charge
The NAFCU Journal November-December 2019 - 19
The NAFCU Journal November-December 2019 - 20
The NAFCU Journal November-December 2019 - 21
The NAFCU Journal November-December 2019 - 22
The NAFCU Journal November-December 2019 - 23
The NAFCU Journal November-December 2019 - 24
The NAFCU Journal November-December 2019 - 25
The NAFCU Journal November-December 2019 - Test for Success
The NAFCU Journal November-December 2019 - 27
The NAFCU Journal November-December 2019 - 28
The NAFCU Journal November-December 2019 - 29
The NAFCU Journal November-December 2019 - 30
The NAFCU Journal November-December 2019 - 31
The NAFCU Journal November-December 2019 - Test for Success
The NAFCU Journal November-December 2019 - 33
The NAFCU Journal November-December 2019 - 34
The NAFCU Journal November-December 2019 - 35
The NAFCU Journal November-December 2019 - 36
The NAFCU Journal November-December 2019 - 37
The NAFCU Journal November-December 2019 - 38
The NAFCU Journal November-December 2019 - 39
The NAFCU Journal November-December 2019 - Executive Spotlight
The NAFCU Journal November-December 2019 - 41
The NAFCU Journal November-December 2019 - Management Insight
The NAFCU Journal November-December 2019 - 43
The NAFCU Journal November-December 2019 - Compliance Central
The NAFCU Journal November-December 2019 - 45
The NAFCU Journal November-December 2019 - Inside NAFCU Services
The NAFCU Journal November-December 2019 - 47
The NAFCU Journal November-December 2019 - From the President’s Desk
The NAFCU Journal November-December 2019 - Cover3
The NAFCU Journal November-December 2019 - Cover4
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