In Nebraska, we experience a variety of severe weather such as hail, lightning, tornadoes, flooding and even wildfires, so it’s important to be vigilant and take weather safety seriously.
Keep alert:
Severe weather can occur year-round and at any hour. Sign up for your community’s warning system. The Nebraska Emergency Management Agency has a watch center. The Emergency Alert System (EAS) and National Oceanic and Atmospheric Administration (NOAA) Weather Radio also provide emergency alerts.
Have a plan:
The National Credit Union Administration (NCUA) expects federally insured credit unions (FICUs) to have disaster recovery and business resumption contingency plans in place to address all types of operational disruptions, from short-term power outages to natural disasters that have the potential to physically destroy the credit union’s premises.
NCUA’s Catastrophic Act Preparedness Guidelines (Part 749, Appendix B) provide recommendations for developing (and maintaining) a disaster recovery program, with the oversight and approval of the credit union’s board of directors. The Federal Financial Institutions Examination Council (FFIEC) provides a “Business Continuity Management” booklet.
ViClarity , a NCUL MVP, provides GRC (Governance, Risk, and Compliance) software solutions that include dedicated modules for Business Continuity Planning (BCP) and Disaster Recovery. Their platform helps organizations, particularly credit unions, prepare for, monitor, and recover from disasters by managing risk, compliance, and policies in a centralized, cloud-based system.
Response Resources:
TruStage is a trusted partner providing comprehensive disaster recovery services for credit unions. If your credit union experiences a disaster or major loss, an authorized representative should contact TruStage using the dedicated disaster phone line:
- Phone: 800.637.2676 or 608.444.5357 (available 24/7, 365 days a year)
TruStage offers a variety of disaster recovery resources to assist in restoring operations and supporting affected members. For complete recovery resources and guidance, visit TruStage’s Disaster Recovery page.
NCUA’s Natural Disaster Relief Initiative assists credit unions responding to sudden, unexpected costs resulting from a natural disaster, which, if left unaddressed, would disrupt member services. The grant covers costs not covered by insurance to restore services, replace equipment, and make repairs.
The project period is six months, beginning on the date of the disaster. Expenses that occurred between the date of the event and the date of the award notification are eligible for reimbursement.
The maximum grant amount is $15,000. The NCUA may alter the maximum award amount to respond to specific events.
Examples of eligible disaster relief projects include:
- Repairing damage to the credit union that occurred from a natural disaster and is not covered by insurance.
- Replacing needed equipment to immediately restore services to members resulting from an unexpected event, such as power outages from storms.
- Paying consulting fees for activities related to the credit union’s recovery from a natural disaster.
- Providing financial services to members affected by the disaster, such as a special loan program covering members’ costs of recovering from the event.
More information and directions for applying can be found at https://ncua.gov/support-services/credit-union-resources-expansion/grants-loans/grants/newly-chartered-urgent-need-grant-initiative-guidelines
In the addition the Credit Union Foundation of Nebraska has some resources to aide in disaster relief. More information can be found at https://nebrcul.org/industry-resources/.
