by. Paul Sullivan

No matter where your credit union is located, you cannot escape weather-related events.

You have likely planned your disaster recovery strategy for this threat, but other business interruptions can be equally damaging and often come with no advance warning—such as power outages, a vehicle crashing into your building, a hacked computer system, fire, or a burst pipe.

Also, during such isolated events, your credit union may be the only organization affected—meaning little or no municipal or governmental support. As a result, members may be less understanding than they would be if the problem affected an entire region.

Therefore, it’s just as important to prepare for isolated events as it is to prepare for natural disasters.

Agility Recovery, a CUNA Strategic Services alliance provider, suggests these 10 steps to preparedness:

1. Assess internal and external risks

Discuss, “What if this happened to us? How would it affect our business, and how would we need to react?”

continue reading »