Customers Bank announces new program to assist workers affected by the government shutdown

WYOMISSING, Pa., Oct. 7, 2013 /PRNewswire/ -- Customers Bank today announced a new program, the Employees Furlough Assistance Plan (EFAP), designed to assist workers who have been furloughed as a result of the current federal budget impasse.

"The current situation is creating undue and underserved pressure for thousands of workers across the nation and right here in our area," said Richard Ehst, President and Chief Operating Officer of Customers Bank.

"Since early this year our Chairman and CEO, Jay Sidhu, has spoken at length about his concerns that the lack of leadership being demonstrated by our elected officials could have far-reaching effects, not only on the broader economy, but eventually on thousands of individual citizens," said Ehst. "This is no longer an abstract debate – it has become a crisis that is affecting livelihoods and families."

For workers affected by the government shutdown Customers Bank will grant a one-month deferral on consumer loans, as well as a one-month forbearance on mortgage payments, Ehst said.

In addition, Customers Bank has set up a toll-free number for bank customers who are  workers impacted by the shutdown and who may be facing hardship. That number is: 855-332-6883. Customers may also contact the bank via email at furloughassistance@customersbank.com

"In this difficult and uncertain time, Customers Bank wants our customers to know that we stand behind them," said Ehst. "We are committed to helping those who may need financial help through no fault of their own, just as we remain committed to helping all our customers achieve their financial goals and long-term security."

About Customers Bank

Customers Bank is a community-based, full-service bank headquartered in Phoenixville, Pa., with assets of approximately $3.8 billion.  A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation ("FDIC"), Customers Bank is an equal housing lender that provides a full range of banking services to small and medium-sized businesses, professionals, individuals and families through offices in Pennsylvania, New York, Rhode Island, Massachusetts and New Jersey. Committed to fostering customer loyalty, Customers Bank uses a High Tech/High Touch strategy that includes use of industry-leading technology to provide customers better access to their money, as well as a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers. Customers Bank is a subsidiary of Customers Bancorp, Inc., a bank holding company based in Wyomissing, Pa. For more information, visit www.customersbank.com.  Follow us at www.twitter.com/@CustomersBank

SOURCE Customers Bank



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