The NAFCU Journal November-December 2019 - 38

season, wildfire season or when any
other disaster hits."
Networking in general can add a layer
of sophistication to contingency plans,
the experts say. Petrone and Molina
note that a group of credit unions
in Florida met after a hurricane and
compared notes about what worked
and what didn't work. Afterward, each
adapted their plans accordingly, knowing it would be only a matter of time
before their customers and employees
faced another crisis.
After Hurricane Irma hit, there was an
extended time when internet connections were down, and the JAXFCU team
has since added a backup service to their
plan, Svoboda says. 
JAXFCU revisits its plans annually, with
its chief information officer in charge
of what Svoboda calls a "team effort."
The credit union recognizes that some
employees will have family obligations
during disasters, which means they will
not be able to report to work, Svoboda
says, adding that it is important to
identify who will be able to respond
right away.
"We have an established calling tree to
keep employees informed," she says. And
in addition to its disaster hotline, "emails,
on-hold messages, Facebook, website
banners and signs helped get the word
out to our members."
At Cobalt Credit Union, introspection
has become routine. The business contingency team "has implemented processes and plans that we test monthly,
quarterly and annually, depending on
the team and the test," DeBoer says.
"Over the years, this team's goal and
our disaster recovery plan have evolved
to meet the changes in our technology
and the wider range of products and
services we offer our members."
This summer, the credit union
unveiled a new customer-oriented tool
of video banking. The idea is to give
customers the option of video chatting
with a credit union employee. The
38

''

Immediacy and
responsiveness is the name
of the game during hurricane
season, wildfire season or
when any other disaster hits.

''

- TINA LOVE, VICE PRESIDENT OF CLAIMS AND RECOVERY,
ALLIED SOLUTIONS

two-way video creates the personal
connection that a lot of people want
and the ability to share documents -
but to do so from their home, office
or anywhere in the world where there
is internet access. The credit union
realized it could be a powerful tool
during a disaster, when a personal
touch might help to calm unnerved
customers, so the technology was
added to the credit union's disaster
plan, DeBoer says. 

Help Members Get By

Credit unions, at their core, are customeroriented organizations, so they've
learned to use various financial tools
that will help people get through a crisis,
including issues such as the federal government furloughs that meant paychecks
were interrupted.
During the government shutdown
that started late last year and extended
into 2019, JAXFCU allowed its members who are federal government
workers to skip loan or credit card
payments for up to 60 days. It also
allowed qualifying members to skip
a mortgage payment for up to 30
days. And short-term, zero-percent
loans were made available for the
amount of a member's paycheck
up to a maximum of $3,000. Other
standard services also were promoted, such as auto-loan refinance
agreements for which payments were
deferred for 90 days.
During Hurricane Irma, the credit
union put in place other options to
assist members, such as waiving a
certain number of fees and offering

loans both before and after the storm. It
also offered members advice, Svoboda
says, such as making sure they took
out enough cash to weather the storm,
while also ensuring that the ATMs were
fully stocked. 
Tom Kazar is a group vice president
of sales at Franklin Madison, a
Tennessee-based marketing firm that
specializes in insurance products
that are marketed under its clients'
brands. Kazar says credit unions can
offer different insurance products
for credit union members, including
those that can secure the financial
future of their families in a life-altering
event. That can include products that
offer supplemental income or other
insurance solutions that provide asset
protection. The basics such as life
insurance, supplemental health policies
and accidental death and dismemberment policies can be offered to credit
union members well before a crisis
hits, he says. 
In the end, credit unions are about
service to their members and to
their communities.
"There have been events in the last few
years that gave us pause to stop and
look at how we assist our members
who are suffering from national events
or disasters like the recent flooding," DeBoer says. "Being nimble and
member-centric can allow you to react
quickly to unforeseen disasters."
Thomas A. Barstow is a Pennsylvaniabased business journalist.

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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