NEW YORK-Three CEOs whose credit unions survived Super Storm Sandy last October are offering advice and lessons learned on preparing for and recovering from such disasters.
During America's CU Conference here, CUNA Mutual Group Property and Casualty Claims Manager Mike Retelle facilitated a panel discussion that included: Robert Allen, CEO of Teachers FCU in Hauppauge, N.Y.; Gene Brody, CEO of Bay Ridge FCU in Brooklyn, N.Y.; and Shawn Gilfedder, CEO of McGraw-Hill FCU in East Windsor, N.J. All three CUs were greatly impacted by Sandy, which caused $65 billion in damage.
"Sandy still has a lingering effect on our membership as insurance recoveries have, for the most part, not covered all their damages," Brody said. "Many of our properties which serve as collateral for our loans are still in need of further renovation and reconstruction."
Among the recommendations from the three CEOs:
* Review and update disaster preparedness policies and procedures on an ongoing basis.
* Practice leadership before a crisis; have a documented plan representing all facets of your organization and be prepared for the unknown.
* Maintain consistent and direct communication with staff and members.
* Realize perception will become reality if not managed during and after the crisis.
* Identify staff's personal needs. They are impacted by these events personally just like members.
* Employees' core values showcase themselves during times of crisis-make sure all employees have a clear vision of the organization's mission and vision.
