Preparing Your Credit Union for Disaster

Credit unions recognize the need to establish emergency procedures for a variety of contingencies that might threaten the safety of members and staff or jeopardize service delivery. In response to NCUA Letter 01-CU-21 for Disaster Recovery and Business Resumption, we have developed a system to gather your information and prepare a contingency plan that is unique to your credit union and easy to update.

We accomplish this by:

• Assisting in the development of a Business Impact Analysis
• Developing a model for the Contingency Plan
• Facilitating discussion with your management team and identifying the crucial scenarios
• Developing contingency plans for crucial scenarios
• Developing a Contingency Plan Notebook that houses the scenarios you prioritize
• Providing a maintenance plan to update the notebooks regularly
• Developing a plan for adding more scenarios in the future

We understand this can be a cumbersome project for your leadership team, but also a necessary part of risk management. With our guidance, this requirement can be completed with a minimum of involvement for your staff and at a reasonable cost.

Special Attention to Pandemic Illness

Pandemic illness planning presents even more unique challenges to credit unions than natural or electronic disasters. The impact of a pandemic is much more difficult to determine because of the difference in the scale and duration of a pandemic event. Credit unions need to plan for the potential adverse effects of a pandemic event, especially severe staffing shortage likely to result from a pandemic outbreak.

As part of our review we will discuss the potential effects of a pandemic outbreak on your credit union and develop strategies to minimize them.