ICBA Shares Financial Preparedness Tips for Consumers During National Preparedness Month in September
In recognition of National Preparedness Month in September, the Independent Community Bankers of America (ICBA) and community bankers nationwide remind Americans to create a plan to ease their worries and accelerate their financial recovery from a natural disaster.
“While unforeseen circumstances can arise at any time, developing a financial preparedness plan can help minimize the long-term impact and accelerate the path to financial recovery,” said the CEO. from ICBA, Rebeca Romero Rainey. “As financial stewards of their communities, Community Bankers are a great local resource to help consumers plan for life’s unexpected twists and turns.
ICBA offers the following tips to help consumers prepare for and recover from a natural disaster:
- Create an emergency savings account. Keep a small amount of cash on hand to buy supplies, fuel, or food in case electronic funds are not immediately available.
- Prepare a family emergency communication plan to contact relatives.
- Collect financial and essential personal, family and medical information and make copies. Password protect printed copies and store them in weatherproof containers.
- Document and secure ownership to help determine replacement costs. Renters, homeowners, and auto insurance don’t cover all aspects of a disaster, so specialized coverage like earthquake and flood insurance may be necessary.
- Contact your insurance agent or visit the Federal Emergency Management Agency website. (FEMA) website, to determine if you need a flood insurance policy. For more helpful financial preparation tips, download the Emergency Financial First Aid Kit.
Regarding the ongoing COVID-19 pandemic:
- Be careful when sharing personal financial informationsuch as your bank account number, social security number or credit card number.
- Don’t click on links in text messages or emails from people you don’t know. Visit government websites, such as cdc.gov/coronavirusdirectly in your web browser.
- Be on the lookout for scammers who can try to take advantage of it by calling with work-from-home opportunities, debt consolidation offers, and student loan repayment plans.
- Contact the Federal Trade Commission if you suspect a scam related to COVID-19.
“Community banks have always stood by their customers and communities and helped them through unfortunate and often unforeseen circumstances,” said ICBA President and CEO Brad Bolton. of Community Spirit Bank in Red Bay, Ala. banks, we are invested in the financial health of the community and are always ready to lend a hand.