SAN DIMAS, Calif. — Shared branching got a boost into more of the credit union conscience in the wake of hurricanes Katrina and Rita and their aftermath and there are indications it might be getting another in the wake of the October's tremendous fires in California.
The Financial Services Center Cooperatives, the shared branching network headquartered on the West Coast, has implemented the Emergency Shared Branching program which allows credit unions which are not using shared branching to sign up to give their members access to their accounts during the emergency.
FSCC said the ESB program was developed during the floods in Louisiana two years ago. FSCC is waiving the set-up charge for the program. As long as the credit unions agree to the terms of its use, FSCC is not requiring credit unions to sign on to full-blown shared branching.
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"Our goal is to help credit unions get through this devastating disaster, not to sign on new customers," said Sarah Canepa Bang, FSCC CEO. "With reports of between 500,000 and a million people displaced, we're trying to think of the members first. If we can help credit unions help them, then we're doing our job."
In addition to the ESB program, credit unions are utilizing FSCC's emergency hotline services to assist in communicating with credit union members and staff. The hotline is operated by Digital Dialogue, a subsidiary of PSCU Financial Services, FSCC said.
FSCC said its virtual private network had also become a useful connectivity tool. Credit unions using the economical VPN solution have their disaster sites connected to shared branch services. Credit unions that are not on the VPN disaster program can still have their members served in an off-line mode while a VPN connection is installed.
"Our robust group of disaster recovery products and services will aid credit unions devastated by the fires. Continuity of service is key in any disaster," said Bang. "Shared branching helps to provide that continuity of service."
Through several communication channels, FSCC is working to deliver the information to participating credit unions and affiliates of the situation. All FSCC credit unions are being immediately notified directly when branches are closed and re-opened.
FSCC officials are quick to point out that it is not only credit unions in the area they are concerned with, but also members of credit unions from outside the area.
"We learned in the first few days of the floods, that although our credit unions didn't have locations in the area, they had tens of thousands of members there who needed help," said Bang. "A disaster this size is going to touch credit unions from all over the country."
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