As Hurricane Dorian arrives it brings a variety of devastating conditions – but weather damage is not all you should be worried about in the event of a natural disaster.
Hurricanes, earthquakes and wildfires can destroy property and wreak financial havoc on families and communities. During this National Preparedness Month, Waterford Bank, N.A. and the Independent Community Bankers of America® (ICBA) remind consumers that they can help alleviate financial concerns by planning in advance.
ICBA and Waterford offer the following tips to help consumers prepare for the unexpected and offer greater peace of mind following a natural disaster.
- Prepare backup communications plans if both cellular and landline service fail. You may want to be fully informed ahead of time of your cellular and satellite communications options.
- Store digital and paper copies of critical documents in a safe deposit box. These include a driver’s license, passport or military ID, bank and investment account information, proof of occupancy, a mortgage deed, insurance policies and three years of tax returns. Consider placing these items in a waterproof bag.
- Make additional copies of personal documents—marriage license, birth certificates, adoption papers—for safekeeping and alert a relative, trustee or attorney of their location.
- Print out contact information for trustees, guardians and executors and store it in a safe deposit box or give a copy to a trusted family member or friend.
- Create an inventory of personal and household valuables and use photo or video documentation to help assess their value and determine replacement costs.
- Check out the resources from the Federal Emergency Management Agency (FEMA). FEMA offers a variety of guides and checklists to help prepare for emergencies and natural disasters.
“Natural disasters prompt people to take stock of what they have and what they have lost,” said ICBA President and CEO Rebeca Romero Rainey. “Your local community bank can work with you on evaluating your financial preparedness prior to these unexpected, stressful events and help protect you and your loved ones from the long-term effects of lost, damaged or destroyed financial documents.”
Waterford Bank, N.A. is staffed with well-known, experienced professionals who provide the highest caliber of service in everything from your daily banking needs to complex corporate transactions. The Bank offers a comprehensive range of products and services in Treasury Management, Private Banking, Commercial and Industrial Lending, Commercial Real Estate Lending, and Consumer and Mortgage Lending. From business to personal transactions – the Waterford Banking Team is providing customers throughout Northwest Ohio the absolute power and peace-of-mind needed to attain their own financial goals. Contact us to learn more.
The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. With more than 52,000 locations nationwide and employing more than 760,000 Americans, they are the only physical banking presence in 20% of U.S. counties. Holding more than $4.9 trillion in assets, $3.9 trillion in deposits, and $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America.