Skip to main content

It is that time of year! 6 Disaster Recovery Tips for Credit Unions


6 Disaster Recovery Tips for Credit Unions

Ahh, disaster recovery. For credit unions, it’s a must. Why? Well, imagine what would happen if lightning struck half your branches. What would you do?
Okay, maybe that’s not the best example. Lightning strikes—especially simultaneous lightning strikes—aren’t exactly common. Still, many things are common. Worse, some bad things are becoming increasingly common.
Have you ever worried about wildfires, tornadoes, or earthquakes? How about hurricanes, power outages, or chemical spills? We could go on, but by now, you’ve probably gotten the point: credit union disaster recovery is important.


It’s Not Just a Good Idea—It’s the Law!

Disaster recovery plans are important for being able to restore operations when things go wrong. Plus, the NCUA wants you to have a disaster recovery plan.
Your members will thank you, too. If you’re serious about meeting their needs, then you must plan for the worst. If you don’t, how can you help them when they need you most?
So, where do you get started?

1.    Test Your Core

Can your core handle a disaster? If not, then what’s the use in anything else working? If it’s your first time testing your disaster recovery, start with the core.
In any credit union disaster recovery scenario, you must ensure that you can continue operating. It’s a nice thought, being there for your members in an emergency. Being able to handle their banking needs is an even nicer thought.

2.    Test Your Connectivity

Okay, now that you’ve got your core figured out, it’s time to make sure you can use it. Can you connect to it? How’s your third-party connectivity?
Connectivity is another year-one concern. Don’t put this off!

3.    Test Supporting Systems

There’s no reason to test the core and connectivity over and over. At some point, you have to check on all your other systems.
Start by determining which of your supporting systems are most critical. Your most critical systems are the ones that you would need to bring up before your other peripheral systems.
Testing supporting systems is a year-two concern.

4.    Test Your Business Processes

Also in your second year, you should test your critical businesses processes. Make sure end-users are trained on how to handle your credit union’s disaster recovery plan.
You may want to try out testing in an offsite location, or even from home. You can’t be sure that you’ll have your usual facilities in the event of a disaster.
Testing businesses processes also falls under the business continuity planning (BCP) umbrella. That’s okay—there’s a little overlap.

5.    Test Third-Party Connectivity

The last major consideration for your second year of disaster recovery testing is third-party connectivity. Once you know your core is operational and connected, it’s time to see what else you can maintain access to.

6.    Full Production Test

By the third year, you’ll want to run a full production test. Fail over to your backup servers on a weekend. Make sure you can run production from that environment.
Then, let it run for a week. Make sure everything is running and that connections are solid.
When you’ve successfully completed this step, then you’ll know that your credit union is truly prepared for disaster recovery.

Comments

Popular posts from this blog

NCOFCU Promotes its First Class of Credit Union Professionals (CCUP)

Announcing the First Class of Certified Credit Union Professionals (CCUP) Key West, Florida – The National Council of Firefighter Credit Unions Inc. (NCOFCU) is thrilled to announce the inaugural class of Certified Credit Union Professionals (CCUP), taking a significant step towards advancing the standards of professionalism and expertise in credit union governance. This elite certification program, launched during the NCOFCU annual educational conference, provides participants with a unique opportunity to enhance their professional development, gain specialized training, and expand their network while receiving guidance from industry leaders. Over the course of two years, participants will have engaged in comprehensive sessions covering critical topics such as governance best practices, regulatory compliance, risk management, and strategic planning. "Earning the CCUP certification signifies a professional's 2-year commitment to excellence and continuous learning in cred...

NCOFCU Newsletter

The Bucket Coach is a financial advice book designed by Fire Services Credit Union, Tronto, Canada. and written exclusively for Fire Fighters It's a practical guide for household financial management, including investments, credit and mortgages, and retirement. Developed with contributions from Fire Fighters," NCOFCU Newsletter : " Kevin Connolly Chief Executive Officer    Fire Services Credit Union Phone: 416-440-1294 ext 301  Toll Free: 1-866-833-3285 E-mail:  kevin@firecreditunion.ca 1997 Avenue Rd Toronto, ON M5M 4A3 

The Fed announces quarter-point interest rate cut.

  After nine months of staying on the sidelines, the Federal Reserve on Sept. 17 announced a quarter-percentage-point cut, likely the first in a series of reductions to usher in lower borrowing rates for consumers. The rate cut – the Fed’s first since late 2024 – lowers the Fed’s benchmark interest rate to a range of 4% to 4.25%. Officials signaled the possibility of two more rate cuts this year. Typically, the Fed hikes rates or keeps them steady to tame inflation. The central bank lowers rates to juice the economy. While the Fed previously held back on rate cuts due to inflation concerns, a series of disappointing jobs reports showed a weakening labor market. While there are signs that tariffs are starting to show up in consumer prices, Powell previously said a “reasonable base case” is that tariffs spur a one-time price shift rather than a more persistent inflationary effect. "Job gains have slowed, and the unemployment rate has edged up but remains low. Inflation has moved up ...

MAP, Dolphin Debit Enter Into New Partnership

  SEATTLE–The CUSO  Member Access Processing  (MAP), a provider of Visa DPS debit, credit, ATM, and digital payment processing, said it is entering into a partnership with Dolphin Debit, the ATM and ITM management company.  “We are excited to partner with Member Access Processing,” Joe Woods, SVP-marketing & partnerships at  Dolphin Debit , said in a statement. “Our two organizations have a strong track record of providing exceptional service and solutions for our clients.   We are confident that this partnership will be a great success for both organizations and the credit unions we serve.”  Dolphin Debit noted it has partnerships with many credit union associations and operates all makes and models of ATM equipment in various branch and off-premise venues, working with over 350 financial institutions across the United States.  ‘Strengthened’ Ability “At MAP, we’re committed to helping credit unions serve their members and grow their car...

Navigating Staff & Employee Compensation

The following videos will help you to navigate the complexities of salary and benefits for your credit union staff and employees. __ ______________________________________________ Check out NCOFCU's additional features: First Responder Credit Union Academy Podcasts YouTube Mini's Blog Job Board