The NAFCU Journal November-December 2019 - 35

''

For us, it is about being
ready to serve our members at
all times no matter the crisis or
the situation.

''

- GAIL DeBOER, CEO, COBALT CREDIT UNION

Get Ready for Anything

Several years ago, Cobalt Credit Union
established a business contingency team
whose focus is on disaster recovery
planning to ensure its members have
access to their financial products and
services in the event of any kind of
disaster. Fortunately, the credit union
has "not had any really large-scale
disasters to test our plan on," DeBoer
says. "However, that doesn't stop us
from testing our plan on a regular basis.
We use something as simple as a brief
power outage or system shutdown as
an opportunity to go over our game
plan as to what we would do if this
had been a real disaster."
Astute leaders also pay attention
to what is happening in other
communities nationwide and learn
from others' experiences, adapting
their own plans accordingly.
"We take real disasters that might be
occurring elsewhere and use them as
a test for our own team," DeBoer says.
"You might think of it as a 'what-if ' drill."
Michael Petrone, a risk management
consultant with CUNA Mutual Group,
and Carlos Molina, a CUNA Mutual
Group senior risk management consultant, say that such modeling is
important. Numerous scenarios should
be considered, with new information
and ideas routinely tested and added to
the plans. They agree that credit union
leaders don't need to face a crisis to
develop a plan - they just need to learn
from others who have weathered storms
or other crises.
"You want to make sure the plan is dustproof, and updated and tested," Petrone
says. "An untested plan is no plan at all."
The Federal Emergency Management
Agency notes that more than 20 percent
of flood claims come from outside
high-risk flood zones, which shows how
people can be caught unprepared for
various events. So far in 2019, disasters
have ranged from fires in the West to
tornadoes and flooding in the Midwest
to severe storms and flooding in the

THE NAFCU JOURNAL  NOVEMBER-DECEMBER 2019

35



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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