The NAFCU Journal November-December 2019 - 36

''

You want to make sure the
plan is dust-proof, and updated
and tested. An untested plan is
no plan at all.

''

- MICHAEL PETRONE, RISK MANAGEMENT CONSULTANT, CUNA
MUTUAL GROUP

East and South. And then there are
the man-made crises. Credit unions
will respond to a robbery much differently than they will to natural disasters,
Petrone says. And the reaction to an
active shooter will involve even more
precise planning. Numerous details
need to be considered, and the list of
questions and potential answers should
be reviewed and practiced.
"How do you barricade?" Petrone says, as
an example. "Do the doors open in? Do
the doors open out?"
Molina says one mistake is to think
that a particular scenario won't play
out in your service area. "Tunnel
vision is one of the biggest enemies,"
he says. "You have to be flexible; you
have to be open."

Drill Down on the Basics

Several experts note that a lot of
organizations try to think through the
details but still need to look harder. For
example, contingency plans often will
include obvious communication tools,
such as cellphones and the internet,
understanding that landlines might
be the first to go. But if electricity
goes out completely, those options are
short-term at best. Leaders would be
well-served to include satellite phones
or two-way radios in their plans,
Petrone says. 
Also, credit union employees are a
critical component of an effective contingency plan, so understanding what
their individual obligations are should
be part of the process. The contingency
plan for Jax Federal Credit Union
in Jacksonville, Fla., took employees'
36

needs into account, and that knowledge came in handy when Hurricane
Irma hit in 2017.
"We collected information from our
employees on their family obligations
- children, aging parents - and their
evacuation plans," says Mary Svoboda,
JAXFCU chief operating officer and chief
lending officer. "We also identified what
evacuation zones employees lived in, so
we were sure to excuse them from work
in time to evacuate."
JAXFCU employees were given time
off in the days preceding the hurricane
to go shopping for needed supplies,
and a disaster recovery hotline was
used to advise employees when it
was safe to return to their branch or
work area.
"After the hurricane we gave each associate a $50 gift card to help them replenish
refrigerator items," Svoboda says.
Several executives say their credit
unions also understand the full power
that social media can play in a crisis,
and they advise employees accordingly.
If workers are knowledgeable about how
customers, emergency workers, news
agencies and governments use social
media during a disaster, then the credit
union will be able to monitor shifts in
situations in real time.
And it is important to have backups
on top of backups. Petrone says credit
unions should have multiple electronic
copies of an updated disaster plan in
several locations. And in case the power
goes out, they should also have oldfashioned paper copies on hand. 

Contingency
Planning
G
ail DeBoer, CEO of Nebraskabased Cobalt Credit Union,
offers the following tips for
organizations readying for
a possible disaster:

1. Have a plan. Include in the planning process key people who
are in charge of varied aspects
of the business, from the techbased financial systems to the
building itself.
2. Have a communication plan.
Communication with employees
is important so they know how
to respond. You also need to
know how to spread the word for
customers, which might include
traditional methods as well as
social media.
3. Revisit and test your plan regularly. Reassess the protocols that
have been put in place, particularly when anything about your
credit union changes - from
a new product offering to an
office renovation.
4. Use current events and disasters
as your guide to assess "what if it
happened here?" 
5. Always remain member-focused.

Communicate Before, During
and After

Love suggests credit unions work
with their insurance tracking partner
to immediately assess the exposure
from a catastrophic event. "That
way, you are working less tirelessly
to play damage control," she says.
"Immediacy and responsiveness is the
name of the game during hurricane

THE NAFCU JOURNAL  NOVEMBER-DECEMBER 2019



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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