Business Continuity Program

Purpose:

Consistent with mandates set by the Federal Financial Institution Examination Council (FFIEC) and the National Credit Union Administration (NCUA), 4U Federal Credit Union’s (4UCU) Board of Directors and Executive Management Team have developed a Business Continuity Program (BCP). Our program is designed to help ensure that:

1. 4UCU continues to do business with little or no disruption.
2. Credit union members’ accounts remain secure and accessible.
3. Members will be able to reach us during unplanned business interruptions.

Plan Objectives:

4UCU’s BCP addresses all essential elements of the credit union’s infrastructure to enable timely response to an event that proves disruptive to critical business functions. Representatives of 4UCU’s management team oversee and direct the BCP efforts by supporting each of the following objectives:

• Ensure the provision of adequate resources with the knowledge to evaluate and maintain a comprehensive and effective BCP.
• Establish policies for business continuity and business resumption efforts by determining how the credit union will manage and control identified risks.
• Test the BCP annually and review results with the Board of Directors.
• Approve the BCP at least annually.
• Make certain the BCP is kept up-to-date and affected employees are aware and trained on individual roles.

To properly manage the BCP, 4UCU personnel are organized into support teams with each team being responsible for a specific aspect of the BCP. 4UCU will designate two teams for the recovery effort, a Management Team, and a Member Services Team. The Management Team directs the recovery procedures. The Member Services Team is responsible for implementing all operating procedures and tasks needed to provide continuous service to the members.

4UCU has identified critical items, systems, services, the types of failures that may occur, the probability of occurrence and the cost, duration, and impact of the failure. Although there can be no assurance service will continue without interruption in certain circumstances, should 4UCU determine it cannot resume operations within
a reasonable amount of time, then frequent communications to our members will be provided.

In the event 4UCU is impacted by a pandemic event, we have identified staff to perform the essential job functions required to continue operations. A detailed plan documents the procedures 4UCU will initiate in preparation for, and in response to, a pandemic event. Our pandemic plan complies with FFIEC and NCUA guidance.

Program/Plan Testing and Updating:
Although a BCP cannot eliminate risk or a potential delay that can result in an unplanned disruption in service, 4UCU conducts an annual test of the BCP to strengthen our preparedness. We use the test results to validate and update our recovery plans to ensure that we have taken the necessary steps to protect credit union members. All disaster recovery tests conducted in the past year successfully met our objectives.

Preparation:
4UCU is confident our members will continue to have access to their accounts in the event of a significant business disruption, however, it is possible there may be some temporary disruption or change in the way accounts are accessed. 4UCU will notify members of any such changes or disruptions by posting a notice on the credit union’s website, FaceBook page, or through a message on our telephone system.