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Financial Sector Interdependencies/Dependencies From a Regional Financial Institution Perspective

Financial Sector Interdependencies/Dependencies From a Regional Financial Institution Perspective. May 2, 2012. Who Is Technology Credit Union?. Local Credit Union Operating in Silicon Valley $1.5 billion in assets with 70k members 10 Retail Locations

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Financial Sector Interdependencies/Dependencies From a Regional Financial Institution Perspective

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  1. Financial Sector Interdependencies/Dependencies From a Regional Financial Institution Perspective May 2, 2012

  2. Who Is Technology Credit Union? • Local Credit Union Operating in Silicon Valley • $1.5 billion in assets with 70k members • 10 Retail Locations • Strong penetration in “high-tech” industries • Members are highly dependent on the “latest” technologies to handle normal banking needs • ATMs, Debit Cards, Mobile and RDC (remote deposit capture)

  3. Dependencies • Power (PG&E and generator) • Staff (availability) • Technologies (will they all work in a disaster?) • Communications (will cell phones work?) • Recovery Capabilities • Critical Vendors (scattered everywhere) • Other Financial Institutions (BARCfirst) • Federal Reserve Bank (liquidity planning)

  4. Regulatory Environment • FFIEC (Federal Financial Institution Examination Council) • NCUA (National Credit Union Administration) • CFPB (Consumer Finance Protection Bureau) • California Department of Financial Institutions • Annual Audits and Examinations, including preparedness for disasters

  5. Priority Gaps • Education of staff on DR preparedness • Great California Shake-Out • Availability of “key” staff • Expectations of members (customers) in the event of a disaster • Access to money (cash is king) • 9-11 and Katrina lessons learned • Generator failure following power outage

  6. Is TCU ready for a Disaster? • For small disasters (e.g., power outages, etc.) • Occupy activities • The “Big One”

  7. Technology Credit Union Thanks for your attention. Michael Luckin SVP, Enterprise Risk Management CONFIDENTIAL: For Internal Use Only.

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