Weather and health-related natural disasters can cause extensive property damage and wreak financial havoc on families and communities. In recognition of National Preparedness Month, First Community Bank of East Tennessee and the ICBA are advocating simple measures to help consumers with preparation and recovery to reduce their financial impact.
We offer the following tips to help customers make a plan and regain their financial wherewithal following a natural disaster.
• Establish an emergency savings account for use in a crisis and keep a small amount of cash on hand in case you’re unable to access funds electronically and need to purchase necessary supplies, fuel or food.
• Prepare backup communications plans if both cellular and landline services falter.
• Store digital and paper copies of financial documents, including investment records, property deeds, insurance policies, tax information, wills, trusts and financial and medical powers of attorney.
• Make copies of personal documents— Driver’s licenses, passports, Social Security cards, birth certificates, adoptions, marriage and divorce papers, property deeds and titles.
• Print contact information for trustees, guardians, and executors and store them away for safe keeping.
• Create an inventory of personal and household valuables and use photo or video documentation to help assess their value and determine replacement costs.
• Contact your insurance agent or visit the Federal Emergency Management Agency’s (FEMA) website www.fema.gov/ to determine if you need a flood insurance policy. For more helpful financial preparedness tips, download the Emergency Financial First Aid Kit https://www.ready.gov/…/ready_emergency-financial-first… to get started planning today.
“Community bankers are financial first responders as stewards of their community,” said ICBA President and CEO Rebeca Romero Rainey. “Rely on their financial expertise to help you evaluate your financial preparedness before these unexpected, stressful events occur, to help reestablish your financial footing.”
About First Community Bank of East TN
FCB was founded in 1993 in Rogersville, TN. The bank is a locally owned and managed financial institution serving a broad market that encompasses an area up to 325 miles from its headquarters location in Rogersville. The bank was founded on the premise that individuals and small and medium size businesses were under served by large traditional banks. The Bank operates brick and mortar branches in Hawkins and Sullivan Counties in Northeast Tennessee but offers a full range of digital banking services.
The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.
With nearly 50,000 locations nationwide, community banks constitute roughly 99 percent of all banks, employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5.8 trillion in assets, over $4.9 trillion in deposits, and more than $3.5 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. For more information, visit ICBA’s website at www.icba.org.