Ledyard Financial Advisors’ Post

Are you ready for an emergency or disaster? Banking partners like Ledyard can help you create a comprehensive plan to safeguard your assets and minimize the impact of unforeseen events. September is National Preparedness Month, and the Independent Community Bankers of America (ICBA) recently shared tips to help you prepare for emergencies. Read the full article here: https://lnkd.in/exgqw5_k Today You can also visit https://www.ready.gov/ to empower yourself to prepare for, respond to and mitigate emergencies and disasters.

Here's an interesting read from others in our banking community: Queensborough National Bank's recovery after Hurricane Helene highlights how banks can better prepare for natural disasters. Most of their 25 branches lost power and cell service, making recovery tough. Lessons learned include keeping generators fueled, ensuring employees take laptops home, and exploring satellite internet. Recovery isn't just about tech—supporting staff dealing with personal losses is crucial too. https://buff.ly/40xpxX7 #SouthernBankEquipment #SouthernBankEquipmentATMs #BankingNews #BankEquipment #HurricaneHelene

Disasters can happen anywhere and anytime, so it’s important to plan ahead. #BeReady both physically and financially. • Assess your risk. • Have a plan. • Review your #insurance and update it, if needed. • See if you need #floodinsurance. • Create an emergency fund. • Gather important documents and keep them in a secure place physically and online. • Know what to do if your property is damaged due to a disaster. https://lnkd.in/euUgG5g floodsmart.gov https://bit.ly/3CjnYj0 https://bit.ly/46eUz7d #disasterpreparedness

How to plan your finances for a natural disaster: Being financially prepared for unexpected costs during a disaster is crucial. Here are key steps to consider: - Build an emergency fund starting with $1K and aim for three to six months' worth of expenses. Consider high APY savings accounts like those from American Express Bank or Varo Money and set up automatic deposits for convenience. - Budget for home repairs, especially if you live in an older or vulnerable home. Allocate funds to strengthen it against natural disasters. - Review insurance policies regularly to ensure they are up-to-date and provide adequate coverage. In 2019, natural disasters in the U.S. led to insured losses of $24.4 billion. Stay prepared, budget for home repairs, and fortify your home against potential natural disasters. Follow Antonio Harrison on LinkedIn for more insights and updates. #innovation #management #digitalmarketing #technology #creativity #futurism #startups #socialmedia #motivation #propertymanagement #homeimprovement #luxuryhome #realestateinvesting

There has been loads of confusion around the EIDL program over the past few years. This program is not what you think it is... The EIDL (Economic Injury & Disaster Loan) program was created to help businesses that have been impacted by declared disasters. There was also a big push by the SBA for a COVID-EIDL to help businesses affected by the pandemic. This is probably the most marketing the SBA has done concerning this program, so it is very easy to think that the EIDL was a covid-specific program. However - this is NOT the case. The EIDL has been around for DECADES, and was initially created to help businesses get back on their feet after a natural disaster occurred. So no, the EIDL is not a COVID era program, and it is still available for businesses that have been impacted by natural disasters. #EIDL #EconomicRecoveryCenter #DisasterRecovery #DisasterPreparedness

I’m excited to share my recent op-ed in American Banker that discusses the need for organizations to support people through natural disasters and the recovery process. It’s not only good for business — doing so demonstrates care for your customers and employees. We continue to see an increase in the number of catastrophic natural disasters and we now have the tools and resources to offer assistance — so why are we lagging in our efforts to do so? In this piece, I urge companies to take a look at what they are doing (or are not yet doing) to be prepared to assist the next time customers or employees are faced with a natural disaster. With more and more disasters occurring, banks must plan ahead to support customers through the long-term recovery process by creating a centralized space for disaster relief support. In fact, many of our existing clients are already using SpringFour to do so. Read more in the American Banker piece, linked in the comments section below. 

Discover how to proactively combat #fraud in disaster recovery programs. In our new #blog, explore the latest insights from #KPMG on safeguarding CDBG-DR funds and ensuring they reach those in need. https://bit.ly/3ZJdRQF

Discover how to proactively combat #fraud in disaster recovery programs. In our new #blog, explore the latest insights from #KPMG on safeguarding CDBG-DR funds and ensuring they reach those in need. https://bit.ly/4dl1qxQ

What's the latest in banking? #SBATraining - On Monday, October 21, the NCBA will host a free loan deferment and disaster loan training session over Zoom in partnership with the U.S. Small Business Administration. The session includes a Q&A opportunity, making it a valuable resource even if your operations weren’t directly affected by Hurricane Helene. #HurricaneHeleneUpdate - Hurricane Helene is now the U.S. mainland's second-deadliest storm since 1969's Hurricane Camille. Estimates of the total damage and economic loss to range from $225 billion to $250 billion. #FederalReserve - Federal Reserve Governor Michelle Bowman called for changes in how nonbanks are regulated, noting that banks are currently subject to a broader range of restrictions imposed by “regulatory requirements or the ‘soft’ power of supervision.” Find these stories and more in the #NCBankersBulletin -> https://lnkd.in/g49FEUwn

Are you prepared in the event of a disaster? Read our blog for tips on making sure your finances are protected. https://lnkd.in/dpHTtVhp