What COVID-19 Taught Us About Credit Union Business Continuity Plans

July 15, 2020

Over the past several decades, as formalized business continuity plans (BCPs) achieved ubiquity in the credit union industry, financial cooperatives around the world have had several opportunities to put their preparations to the test. From core outages to hurricanes, each disaster after the next helped governance, risk and compliance (GRC) leaders finetune their
BCPs for the next inevitable curve ball. Nothing, however, presented quite the same test as the COVID-19 pandemic. The epitome of a Black Swan event, the global coronavirus outbreak proved that even the most robust BCPs can fall short in times of unprecedented disruption and chaos.

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