Executives must know their members when a crisis strikes

No organization, including credit unions, is immune to a crisis. And the likeliness of experiencing one is increasing.

Data breaches and cyberattacks are on the rise. More individuals also started working from home and relied heavily on tools like Zoom, which was quickly hacked. And there was also a surge in digital adoption, which consequently led to greater security risks.

Beyond cyberattacks, the industry has also seen increases in compliance violations and related fines, along with a rise in harassment and discrimination claims. Add to this the prominence of social media, allowing any type of crisis to spread like wildfire.

Credit unions must be prepared — and it starts with understanding both the types of crises that offend members the most and how demographics play a role.

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