As natural disasters and health emergencies become more frequent, financial preparedness is a critical component of resilience and recovery.

During National Preparedness Month, MRV Banks emphasize practical steps consumers can take to safeguard their finances and streamline the recovery process.

Financial setbacks from unexpected events can be overwhelming, but proactive planning helps minimize their impact. MRV Banks encourage customers to take these essential measures to protect themselves and their assets:

• Establish an emergency fund: Set aside cash specifically for crises and keep some on hand in case ATMs or digital banking services become temporarily unavailable. Having liquid funds ready ensures access to money when it’s needed most.
• Secure important documents: Store insurance policies, property deeds, medical powers of attorney, and other essential papers in a waterproof and fireproof container. Digital backups stored securely on encrypted platforms provide additional protection.
• Maintain an inventory of valuables: Keep an updated record of personal and household items, including photos or videos, to document their condition and value. This documentation aids in accurate insurance claims and replacement efforts.
• Plan backup communications: Prepare alternative methods to stay connected in case both cellular and landline services are disrupted, ensuring you can communicate with loved ones and emergency
• Review insurance coverage: Evaluate your policies to ensure adequate protection against natural disasters, including flood insurance, which is often separate from standard homeowners’ Consult your insurance agent or visit the Federal Emergency Management Agency (FEMA) website to learn more and download helpful resources such as the Emergency Financial First Aid Kit.