September is National Preparedness Month and the perfect time for credit unions to reflect on ways to prepare for when natural disasters strike.
2017 was a record year for natural disasters in the United States and 2018 is following suit with the recent California wildfires and with hurricane season now upon us. While these events have devastating effects on the land and communities in their path, the impact can be minimized with the help of the right support structures.
Credit unions have a long history of helping disaster victims, generously devoting time, resources and donations to helping members of their communities in need. Last year, when Tropical Storm Harvey devastated parts of Southeast Texas and Louisiana, CO-OP partnered with other industry organizations to create a support line for providing impacted members with access and branch information. CUAid, an organization which provides disaster relief donations for credit union members and employees (and which CO-OP is a proud donor), reports it has raised $2.8 million in contributions so far in 2017-2018.
While credit unions have and will continue to be quick to respond when a disaster strikes, they must also be proactive prior to the event. The key to disaster preparation: have an effective plan.
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