Unless you’ve been living under a rock, you’ve most likely heard about the new coronavirus (COVID-19) and the surrounding hype. This hype has lead to some issues, including a national hand sanitizer shortage, thousands of canceled travel plans, and in some areas, a fear of going out in public.
While it’s true that the flu still remains a greater threat to those of us in the US than the coronavirus, its movement is being tracked much more carefully. The outbreak started in China and they are reporting the highest incidents with over 80,000 cases, but 109 countries, including the US, are reporting infected people and deaths from the virus.
Something you might want to consider is how the coronavirus will affect you and your credit union. The stock market and global business have taken strong hits from the virus, which could mean trouble for any business, including credit unions. Furthermore, if people in your community get sick and are quarantined, you could be facing possible staffing issues. In a perfect world, everyone would have business continuity plans to cover these issues, but in the case you don’t let’s look at some preventive and proactive steps.