In the timely conference breakout session, Martinez and Cassidy shared some details about their post-disaster experiences. Here are some of their lessons and tips for credit unions preparing for a disaster:

Consider your employees first. The CEOs said one of the first orders of business should be booking local hotel rooms for your employees so they can continue going to work should they have to leave their homes. It's important to take a disaster's psychological effects into account too – Cassidy said the credit union ensured employees' meals and housing were taken care of so they could focus on serving distressed members, and Martinez noted all of his employees had to undergo mandatory counseling. "Your employees become social workers … they have members coming in and telling them horror stories," Cassidy said.
Plan ahead and get creative with solutions. Martinez said RCU prepared by pre-purchasing diesel fuel for its generator, for instance. When local schools were closed, the credit union allowed employees to bring their children to work and set up a temporary day care onsite in a community room. "Every day was a different problem," Martinez said.
Develop a solid communications plan. In addition to regularly updating members with account access details via multiple channels, the CEOs said regular employee communication is key. Martinez said RCU developed an automated communications system that allowed employees to easily contact the credit union during a disaster and report whether they were OK. Sierra Central ensured it had cell numbers on-hand for employees' spouses, and scheduled a conference call every four hours for the disaster recovery team, Cassidy said.
Ask a bigger credit union for help if you're small in size. In response to a question from an audience member about how credit unions with fewer resources can recover from a disaster, Martinez suggested borrowing staff or resources from a larger peer. He noted that RCU is available to help smaller cooperatives in crisis.

Instant Insights /

CEOs Talk Disaster Prep as New Fires Rage: Onsite at REACH

Related Stories

Recommended For You