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This new century has already brought
many disasters to Americans—September 11th, Hurricane
Katrina, Hurricane Rita—to name a few. Today, many are
still trying to re-build their lives.
When disaster strikes, it is almost impossible to
conduct business as usual. You and your family need to
have a recovery plan in place, not only for personal
safety, but for financial recovery.
If you had to vacate your home today because of a
hurricane, flood or other disaster, do you have a plan in
place for temporary housing, paying your mortgage, car
payment and other bills? Are your important papers and
documents such as insurance policies, social security
cards, credit card and bank account numbers where you can
access either originals or copies?
You might consider making copies of all important
personal documents. Keep one set in a sealed waterproof
container or bag where you can access it in an emergency.
The FDIC says that consumers should use caution when
keeping this important information in your home. You want
to keep this information safe for you to carry away in a
disaster, not a thief to carry away during a burglary. A
safe deposit box at your community bank is always a good
option.
You might also consider sending one or two sets of these
documents to trusted friend or family members for
safekeeping. Rather than keeping paper copies, you may
want to scan this information to computer disks for
safekeeping. Be careful not to send them to someone within
close proximity to your home as they may face the same
disaster situation. These documents would provide a
starting point in the event you have to re-build your
identity or reconstruct your financial records.
Be sure you have enough checks with you to last a few
weeks. Although many Americans today transact their
financial business online, having your checking account
number with you may be helpful if you need to make a
payment over the phone.
Your debit card will be especially helpful during a
disaster because it will provide quick access to cash. Be
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sure you know your PIN number, but
don’t write it down. If a major disaster strikes, your
bank may not be able to function as usual for a brief
period and you will need to have other financial options
available if you cannot physically go to the bank for
financial transactions.
Additionally, be sure to keep important phone numbers
available, including numbers for your bank, credit card
companies, insurance companies. You will need to contact
these providers should you need to replace lost or
stolen cards, open new accounts or need other
assistance.
If you have not yet signed up for direct deposit for
your paycheck or social security check, this might be a
good time to do so. By using direct deposit, you don’t
have to worry about getting important deposits to the
bank during a disaster or rely on the mail, which may be
interrupted during an emergency.
Your local community bank is required by federal law to
have an emergency plan in place in the event of a
disaster. This includes plans to recover important
financial data, ensure cash availability and function
even if key personnel are not available, the bank is
closed or phone and power service is down.
A word of caution to those of you who may not be
involved in the actual disaster, but who want to help
those who have been affected. While disaster situations
bring out the best in most people, it also brings out
many con artists to take advantage of your good
intentions. Be sure to give to charities or
organizations that you know are reputable. Never give
cash and never divulge your personal financial
information.
CONSUMER TIPS is provided as a public
service by the Missouri Independent Bankers Association
AND
Community Bank of the Ozarks
P.O. Box 43
Sunrise Beach, MO 65079
(573) 374-5245
1-800-927-4314
www.cbobanker.com
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