Preparing for Hurricane Season

 

The official start of the 2020 Atlantic hurricane season starts on June 1 and runs until November 30, but there’s already a tropical storm developing off the coast of Florida. That means it’s time to take another look at your disaster recovery and backup systems to make sure you’re prepared for any storms.

According to the National Oceanic and Atmospheric Administration (NOAA) National Centers for Environmental Information, the U.S. South, Central and Southeast regions experience a higher frequency of billion-dollar disaster events than any other region in the country. Severe storms like hurricanes and tornadoes lead to extensive power and telecommunications outages, mail service disruption, facility damage and transportation restrictions that impact how people access their money. Credit unions are no exception and may have to shut down or move operations for safety. In these moments it’s crucial your members can rely on you to continue serving the community.

Our client Louisiana Federal Credit Union has experienced many storms over the years, including Hurricanes Katrina, Rita, Gustav and Isaac. During the aftermath of every storm, their community has relied heavily on Louisiana FCU to provide full financial services. Knowing they are located in a hot zone for natural disasters, the credit union decided to move their core system to a safer region in the Northwest. By upgrading their core system, they now have peace of mind during hurricane season knowing that their services will be available to its members in their time of need.

business people planning at meetingMajor storms can disrupt a financial institution’s operations, sometimes lasting a significant period of time. While some interruptions can be anticipated, others cannot. That’s why it’s critical to have a business continuity plan in place. This is how the DuGood Federal Credit Union was able to effectively begin its backup plan when their data center was in the direct path of a large-scale hurricane.

The credit union knew they needed to act fast for the safety of the business and their staff. Members would be evacuating soon and it was important they could access their funds. After contacting our team, we worked together in coordinating a graceful shutdown of their systems and implemented a remote backup solution. It took less than three hours to back up systems, recover servers and bring up third-party vendor services like the ATM and internet banking. Ultimately, we were able to help with other technical operations as the team evacuated to another office.

With a continuity plan in place, your credit union will be able to jump into action if there’s any disruptive event. Test your disaster recovery service and reassess how well your institution is prepared for threats across all levels. When working with our team, you can count on no-cost annual testing to verify the integrity of your data.

We cannot predict the severity of all disasters, especially when it comes to natural disasters, but there is practice and preparation. Know where to go, identify what critical functions are needed and develop planned responses. 

Don’t wait until a storm is on the horizon to start making plans for your credit union. Contact our team to talk about the disaster recovery solution your credit union has in place. When disaster strikes, you’ll want to focus more on your members, staff and service than on complex logistics.


Mastering the Challenge of Disaster Recovery

 

Credit unions are no stranger to the physics of Murphy’s law. If something can go wrong, it will. In an age where cybercrime is hotly discussed and natural disasters crop up when they are least expected, it’s crucial to understand the potential risks of losing data as a credit union.

Risks can be natural or manmade, across a wide spectrum—from wildfires to hackers, a comprehensive disaster recovery solution should cover a range of potential disasters. However, that solution does not need to be extremely specific. The most common errors include natural disasters, cybercrime, and human error. The specific risk you’ll need to prevent is never certain—that’s why disaster recovery functions as such an important form of insurance. 

A disaster recovery solution shouldn’t be bulky and expensive. 

The most common solution(s) for disaster recovery purposes are typically physical locations. However, physical data storage drives up costs in the form of equipment,  connections, and employees that are in charge of managing those hefty physical elements. In addition, when a physical approach is taken, multiple physical locations are used, further driving up costs.

Your customers expect excellence when they access your services through digital channels and share their valuable information with you. Those requirements translate to the safety of their data. You don’t want to lose customers since you failed to implement a solution that protected their information.

These expectations stem from our everyday conveniences—how did you feel the last time your internet went down? Customers expect the same fluidity. When you develop a disaster recovery solution, the effectiveness of the solution should mean that customers don’t experience hiccups in their digital experience. 

While you can’t prepare for a specific disaster, you can prepare for the worst.

The disaster recovery challenge is characterized by the way one responds to the breach. If a breach or disaster does occur, learn how to respond and recover from cybersecurity incidents

If you haven’t made disaster recovery a priority for your credit union this year, you may want to consider its role in your business: financial institutions are often the target of cybercrime and natural disasters are never predictable. Plus, there are many advantages to prioritizing disaster recovery.

With disaster recovery come the following benefits:

  • Minimized downtime and rapid business restoration
  • Near-zero data loss with on-site backups and real-time replication
  • Our secure branch communications allow immediate connections

Disaster recovery shouldn’t be a difficult term to hear, because it is more about planning than it is about the actual scenario. When the need for your disaster recovery solution to kick into place arises, you can rest easy knowing that you’ve implemented the best possible planning beforehand.

Essentially, disaster recovery plans are a form of insurance. We help to ensure that the challenges you face can be remedied smoothly and efficiently—the IMS Crash Response team is ready 24/7 to respond to any disasters. Find out more about how you can optimize your disaster recovery response.