Remembrance, commemoration, and specific dates play an important role in many societies and cultures. They can be about positively connotated events with societal impacts, such as reunifications or the gaining of independence, but also disastrous or other devastating events on a national or international scale. In disaster risk areas, there are various ways such events are addressed. While for some communities they are an active part of the local history and the living memory, other communities tend to neglect or disregard such events. By applying a classification system, building on the ideas of Assmann (2011) and Halbwachs (1992), we identify active and passive forms of remembering in five case study areas in the Nordic countries. We investigate the possible positive and negative outcomes of the collective and cultural memory and how they relate to place attachment as well as capacity building. An example of positive outcomes is an even closer-knit community, exhibiting place-protective behavior, that learns from past events and is better prepared for future disasters. A negative example at the local scale is willful blindness and the neglect of any risk. However, the society outside an affected settlement is also important in the creation and manifestation of the collective and cultural memory: stigmatization and ascription can be negative side effects. Small and remote communities may be recognized by society at large for only one point in time—a year and a disaster—thus sidelining the positive attributes of such communities.