Saving for the Unexpected
A solid emergency fund is perhaps one of the most important tools in developing and sustaining financial security. It is recommended to save six months of living expenses because no matter how well things are going, or well you plan, financial challenges will arise from time to time.
According to a 2017 Federal Reserve report (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) , when faced with a hypothetical emergency expense of only $400, 4 in 10 adults stated they were unable to cover such an expense. While saving is not always easy, especially for the millions of Americans living below the poverty line, here are some reasons to start saving:
- You could experience a natural disaster like a hurricane, tornado, or wildfire that damages your property or causes you to be out of work for an extended period.
- You could become ill and find yourself unable to work.
- Your car may break down or need to be replaced.
- Someone close to you may require care.
- Life is full of unexpected emergencies and expenses. Having emergency savings gives you a buffer to handle them.

Planning for the Unexpected
Disasters don’t plan ahead, but you can! Make a plan for yourself, family and friends.
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When Disasters Strike, Get Informed!
- Know what disasters could affect your area, which could call for an evacuation and when to shelter in place.
- Keep a NOAA Weather Radio (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) tuned to your local emergency station and monitor TV, radio, and follow mobile alert and mobile warnings about severe weather in your area.
- Download the FEMA app (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) , receive weather alerts from the National Weather Service for up to five different locations anywhere in the United States.
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Preparing for an Emergency. Are you Ready?
Prepare yourself and your family for a disaster by making an emergency plan.
Tips to Prepare for an Emergency
- Have an emergency plan (opens new window)
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We encourage you to read the NCUA's
exit link policies. (opens new page).)
. Be sure to discuss it with your family so that everyone knows what to do. Write the plan down and keep it some place that is easily accessible.
Here are a few things you can do now to prepare:- Store important documents such as birth certificates, social security cards, deeds, insurance, and banking information in a secure and waterproof place. Also, always keep copies that are easily accessible.
- Know your credit union and/or bank account numbers. Also, ask your financial institution(s) if they have an emergency plan for account holders.
- Know your insurance information. Familiarize yourself with your insurance policy, account number, terms, and insurance company contact information. Also, consider purchasing flood insurance if you are in an area often impacted by water-related disasters.
- Build emergency savings. It’s recommended that you save for at least 3-6 months of net income for unexpected emergencies. While this isn’t always possible for everyone, having something put away for the unexpected can prove invaluable.
- Don’t forget to include a list of medications for you and your family, as well as essential items for your pets when you build your emergency plan.
- Download the FEMA App (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) to access disaster preparedness tips and look for open Disaster Recovery Centers along with open shelters (if you're a disaster survivor). Also, stay informed with the FEMA blog (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) .
- Use your cell phone’s text messaging capability to receive text message updates from FEMA.
Text PREPARE to 43362 (4FEMA) to receive monthly preparedness tips.
In addition, your emergency planning should also consider the care of pets (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) , aiding family members with access and functional needs (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) , and safely shutting off utilities (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) .
For more information, visit FEMA’s Ready.gov (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) and check out the CFPB’s guide for dealing with disasters and emergencies (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) .
- Have an emergency plan (opens new window)
(You will be leaving NCUA.gov and accessing a non-NCUA website.
We encourage you to read the NCUA's
exit link policies. (opens new page).)
. Be sure to discuss it with your family so that everyone knows what to do. Write the plan down and keep it some place that is easily accessible.
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Disaster Recovery Assistance
Are you a Disaster Survivor?
Disaster Assistance is often available from your credit union or bank (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) . You may also qualify for federal assistance (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) .The Disaster Assistance Improvement Program’s (DAIP)
The DAIP’s mission is to provide disaster survivors with information, support, services and a means to access and apply for disaster assistance through joint data-sharing efforts between federal, tribal, state, local and private sector partners.Apply for Assistance After a Disaster
DisasterAssistance.gov allows you to:- Find and apply for disaster assistance (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) that meets your personal needs.
- Learn about more than 70 forms of assistance from 17 federal agencies (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) .
- Check the status of your application.
- Find a FEMA Disaster Recovery Center (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) (DRC) near you.
- Find a hotel (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) or get help with housing (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) .
- Find programs to help with food and nutrition (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) needs.
- Change the address for your Social Security (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) , VA (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) , or other federal benefits (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) .
- Learn about Small Business Administration (SBA) loans (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) for homeowners, renters, and businesses.
You can even read the latest disaster news feeds (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) , find other recovery help (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) , and learn how to move forward (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) .
Disaster Assistance by Phone
- Call 800.621.3362
- TTY 800.462.7585
Helpful Information on Applying (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
State Disaster Pages (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)
Disaster Recovery Tips (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).)FEMA offers individual assistance (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) and information on federal disaster declarations (opens new window) (You will be leaving NCUA.gov and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) .
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BEWARE: Frauds and Scams after a Disaster
Consumers are often targets of scams after a disaster. Knowledge is power when it comes to fraud prevention. Learn about the most common types of scams and how to protect your finances with information from the NCUA Fraud Prevention Center.
Disaster Fraud Hotline (U.S. Department of Justice)
866.720.5721