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Crisis Communication in Credit Unions
## Episode Summary
In this episode, host Mark Treichel sits down with John McKechnie, a veteran in credit union affairs, to discuss crisis communication strategies for credit unions. Drawing from their extensive experience at the National Credit Union Administration (NCUA), they share valuable insights on handling various crises, from financial meltdowns to cyber attacks.
## Key Topics Covered:
- The importance of quick and transparent communication during crises
- Developing and implementing crisis communication plans
- Prioritizing stakeholders in crisis situations
- Learning from past experiences and conducting post-crisis reviews
- Balancing member needs with institutional stability during crises
- Adapting communication strategies for different types of crises (e.g., financial, technological)
## Notable Quotes:
"It's got to go out. It's got to go out quick. It's got to be accurate... if you don't communicate, the vacuum gets created and the water cooler talk starts."
"Omar Bradley, during the 2nd World War, used to say that when the fighting starts, plans are useless, but planning is essential."
## Takeaways:
- Having a crisis communication plan is crucial for credit unions
- Transparency and speed are key in crisis communication
- Regular tabletop exercises can help prepare for potential crises
- Post-crisis reviews are essential for continuous improvement
## Guest Information:
John McKechnie - Credit Union Consultant
Email: john@johnmckechniellc.com
Phone: 202-997-5816
