Dubuque, Iowa — Being prepared can make all the difference in your safety and well-being during a crisis. Whether it’s a natural disaster like flooding, wildfire, ice storm or hurricane, or a personal emergency such as a sudden death, work injury or auto accident, a crisis can happen on any scale, at any time. Dupaco Credit Union provides five tips to help get your home and family ready in case of a crisis.
1. Create a plan
Start by having a conversation with your family about what to do in an emergency. Does everyone know where to go if there’s a fire or tornado? How will you contact each other? Do you know how to use a fire extinguisher and where it is? Ready.gov and the American Red Cross have great resources to help you get prepared.
2. Make a kit
What if your electricity, gas, water and phone lines were cut off for days? Create a kit, stored in single envelope or box in a secure location, with supplies including cash, important contact information for family members, a first aid kit and access to your medications. And, just as important as creating your kit, be sure to reassess your kit each year. Each household’s needs vary, but here are some ideas to get you started.
3. Know your accounts
Make sure you know how to access your financial accounts. If you’re not the one who normally manages your household finances, know where your accounts are and how to access them. Be sure you also know how to access your money outside of normal business hours via mobile apps, ATMs and services like Shared Branching.
4. Know your insurance
During an emergency, there can be a lot of unknowns. Don’t let your insurance policy be one of them. Understand what your policy covers, and what it doesn’t, before you need to use it. “You need to read your policy. If there are things you don’t understand, I would encourage you to spend a half hour with your agent learning what your deductible and coverages are, and your responsibilities in a loss,” said Andrew Houy, Insurance Agency Manager at Dupaco Insurance Services.
Often times, your insurance agent can provide tips, like the importance of taking a video of your rooms and assets, then storing it to the cloud for access even if your devices are lost, stolen or even destroyed in the crisis. “If your home is ever destroyed, that footage will be your memory, helping you determine a replacement cost for your contents,” says Houy.
5. Start an emergency savings account
An emergency savings account is like having your own financial safety net. Make sure you have money set aside in case of an emergency, providing a sense of security and stability. This account should be easily accessible and ideally cover your living expenses for 3-6 months. If you’re unsure how to start your emergency savings account, financial institutions like Dupaco can help.
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ABOUT DUPACO COMMUNITY CREDIT UNION
Dupaco Community Credit Union is a not-for-profit, member-owned financial cooperative headquartered in Dubuque, Iowa. It is dedicated to the financial well-being of its members, and specializes in personalized financial counseling, money advice and education. It offers savings, loans, investments, insurance and wealth management products for individuals and businesses. Dupaco serves residents in 118 counties throughout Iowa, northwest Illinois and southwest Wisconsin. Founded in 1948 by ten Dubuque Packing Company employees, membership has grown to more than 171,000 with assets exceeding $3.4 billion. It has over 600 employees and 23 branch office locations. It is a Forbes Best-in-State Credit Union, Forbes America’s Best Small Employer, and a Des Moines Register Top Workplace. Learn more at www.dupaco.com.
