Dec. 19, 2011


  • Resourceful! Not only is this article, insightful and packed with good information on the surface, it has links to excellent resources tucked inside. Another great article, Aaron!
  • Great Article. CUs beware, however. Having a link to a league site isn't the same as having a solid, robust business continuity plan.

    While many leagues do an excellent job collecting an distributing resources, it is the CUs themselves having a solid, well-documented, well-exercised plan that makes the difference. With everyone in the CU understanding that it is exactly in the time of crisis that members need the CU the most: Access to their cash is THE most critical function the CUs provide their membership. Whether or not the IT infrastructure in intact, whether or not the CU facility is intact, whether or not the CU staff is all available, members need their money.

    In any crisis, CASH IS KING! Everyone in the CU needs to understand this basic principle. It should form the foundation of the business continuity plan (and lay the groundwork for the IT disaster recovery plan.)

    Don't get me wrong, humanitarian relief efforts within the CU community are exemplary, and should actually be enveloped into the business continuity plan, but they are not the main part. Keeping business open for the membership should always be the priority, especially for those critical, member-facing functions like tellers, call-centers, member service (emergency loans).

    With a robust, exercised plan, coupled with an intense interest in supporting the membership, credit unions should always be miles ahead of the banks.
    Ken Schroeder, MBCP, MBCI, VP-Business Continuity, Southeast Corporate