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5 Lessons From Hurricane Sandy’s Aftermath

Experts discuss lessons from MCUs issues. MCU President/CEO Kam Wong discusses what his credit union has learned not to do next time.

By Peter Strozniak | Updated on November 26, 2012

To understand what the aftermath of a disaster like Hurricane Sandy can do to a credit union look no further than the $1.8 billion Municipal Credit Union. In the difficult days following the superstorm, MCU members became increasingly frustrated and furious, sharply criticizing the New York credit union for what they said were serious lapses and missteps in its disaster recovery efforts.

While Hurricane Sandy had a major impact on many credit union operations throughout New York’s tri-state area, knocking out power to millions and leaving behind unthinkable devastation, disaster recovery experts said the MCU experience is a case study that highlights five major lessons that credit unions should learn from and avoid.

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Peter Strozniak

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