Resilience starts with financial preparedness. Hurricane season is from June 1st to November 30th. Hurricanes may occur often and take a toll on your finances. Below are financial preparedness tips that will help you during the hurricane season:
1. Review your insurance policies Call your agent(s) to make sure you have enough coverage for your property, vehicle(s) and yourself in the event of a hurricane. Some policies require at least 10 days to take effect, and insurance companies that offer home insurance will not issue a policy once the Cayman Islands is under a hurricane watch.
2. Keep important financial information and identification safe and accessible. Important documents such as passports, birth certificates, insurance policies and loan documentation should be placed in a waterproof bag or container and stored in a safe, dry place. The Credit Union recommends that you scan or take clear photos of important documents and store these images in the cloud (internet file storage websites).
3. Create an emergency savings account. We encourage you to save money in an emergency savings account and set a monthly savings goal. This will assist you with becoming financially prepared for any emergency.
4. Keep cash on hand, especially small bills. Extended power outages could prevent you from accessing the Credit Union ATM. Have some cash handy in case you need to buy fuel or food supplies.
5. Apply for an ATM Card. If you don't already have one, consider applying for an ATM card. A Credit Union ATM card will save you time and allow you 24-hour access to your funds.
6. Update your contact information. Ensure that your contact information is accurate and up to date. Email addresses and phone numbers are just some of the ways your Credit Union will keep you informed before and after a hurricane.
7. Do not wait until the last minute to withdraw cash from your account. Just like waiting lines are long at grocery stores in the days leading up to an approaching hurricane, the same goes for your Credit Union. Beat the rush and access your cash early.
From protecting your financial documentation to having cash on hand, a little financial foresight can go a long way.
Unable to Make It into Our Branch?
Credit Union Members have the option to conduct transactions without visiting the branch. Transactions can be processed by email, telephone, online and through our ATM.
To process a transaction, we can be contacted at:
Loans Member Services
Phone 815-4222 or 815-4231 Phone 815-4237 or 815-4227
Stay tuned for the next installment of the Credit Union hurricane preparedness series where we provide Members with useful information on how to keep your account information up to date.