Amid Irene Preparations, CUs Turn to Online Advice
Even as CUs in the Carolinas and the Mid-Atlantic began Hurricane Irene preparations on Friday and as new reminders went out from regulators about disaster readiness, credit unions in the storm’s path were finding social networks a handy vehicle to keep in contact with members.
For one, the $1.8 billion Chartway FCU of Virginia Beach, Va., said it has been using Facebook and its online website to provide tips and checklists to members on staying informed, getting prepared and knowing how to reach the CU “during and after the storm.”
During the emergency “Chartway will be eminently prepared to support you,” said a Facebook message. “We are committed to doing whatever we can to provide the solutions you need to weather any storm,” with mention made of possible branch closings or other service disruptions.
Meanwhile, the New Jersey Department of Banking & Insurance in its disaster bulletin reminded institutions about maintaining disaster response plans “to address all reasonably foreseeable risks to the business community in the event of a catastrophic event.”
The regulator warned CUs to make sure preparedness plans include “any special provisions for check cashing by depositors or non-depositors” in connection with identification matters covering “wire transfers, fee waivers and meeting credit needs.”
“Credit unions should take reasonable steps to adopt emergency by-laws establishing the terms and conditions for continuity of services and be prepared to execute departmental directives subsequent to a declaration of emergency by the governor,” said the agency.
CUNA Mutual, in a statement, said it would be monitoring damage from the hurricane, that it has contacted “potentially affected credit unions throughout the region that carry our property and casualty coverages” and that it would follow up with the CUs “once the storm passes”
CUNA Mutual again reminded the CUs “having an updated disaster recovery plan in place is a must for all credit unions.”
Along the Eastern Seaboard, state leagues were issuing revised bulletins and weather advisories. For instance, the Maryland/DC Credit Union Association reminded CUS they need “to take steps before, during and after a hurricane to mitigate risks and help protect their most important assets – their members and their staff.”