05 Sep CU Division: 5 Steps to Strengthening Your Credit Union’s Crisis Communications

News travels at lightning speed, and a well-prepared crisis communication plan is no longer a luxury—it’s a necessity. For Credit Unions, safeguarding the trust and confidence of members is vital. This means being ready to handle any crisis, from cybersecurity breaches to unexpected events at a local branch, with professionalism and transparency.

Why Crisis Communication Matters for Credit Unions

Credit Unions, by nature, are built on strong relationships with their members. Often serving as a pillar of the community, providing not just financial services but also a sense of security and belonging. However, in times of crisis, this trust can be quickly eroded if the situation is not handled properly. A well-structured crisis communication plan ensures that credit unions can respond swiftly and effectively, maintaining the trust they’ve worked so hard to build.

What a Strong Crisis Communication Plan Looks Like

A robust crisis communication plan is more than just a set of guidelines—it’s a living document that evolves with your credit union. At its core, such a plan includes:

1. An Escalation Framework: This framework identifies the severity of a crisis and outlines the necessary steps to escalate the issue to the appropriate stakeholders (media, executive leadership team,  employees, members, etc.). Whether it’s a high-risk situation that requires immediate, widespread communication or a lower-risk issue that can be handled internally, having clear protocols in place is essential.
2. Defined Roles and Responsibilities: In a crisis, confusion can lead to delays and mistakes. By clearly defining the roles and responsibilities of team members—from executives to customer support—you can ensure a coordinated and efficient response.
3. Scripted Messages: Pre-prepared messages tailored to different crisis scenarios, such as cybersecurity breaches, member issues, leadership changes, weather disruptions or branch emergencies, allow your team to respond quickly while maintaining consistency in communication. This consistency helps to reassure members that the situation is under control and that their needs are being prioritized.
4. Ongoing Training and Drills: Regular training sessions and mock crisis drills keep your team sharp and ready to respond. These exercises not only reinforce the crisis communication plan but also help identify any areas for improvement.
5. Continuous Monitoring and Feedback: Monitoring public sentiment and emerging issues in real-time is critical. Having tools in place to track these can help you identify potential crises before they escalate. Additionally, establishing a feedback loop with employees and stakeholders allows for continuous improvement of the plan.

Why Invest in Crisis Communication Training?

Investing in crisis communication training for your Credit Union is an investment in the future. By equipping your team with the skills and knowledge they need to manage crises effectively, you are protecting your credit union’s reputation and, more importantly, the trust of your members. A well-prepared credit union is not just ready to handle crises—it is poised to emerge from them stronger.

If your Credit Union has not yet developed a comprehensive crisis communication plan, or if your existing plan needs a refresh, now is the time to act. Don’t wait for a crisis to strike; take proactive steps to ensure your Credit Union is ready to face any challenge head-on. Reach out to professionals who specialize in public relations and crisis communication for tailored training and a customized handbook that meets the unique needs of your credit union.

In the end, being prepared is about more than just protecting your credit union—it’s about maintaining the trust and confidence that your members have placed in you. And that trust is invaluable!