BLC Community Bank Extends Support to Community and Customers During COVID-19
LITTLE CHUTE, Wis., April 21, 2020 /PRNewswire/ -- As customers, businesses and members of our community struggle in the current status of our economy BLC Community Bank is finding ways to support them during these unprecedented times.
"Due to the extraordinary circumstances our communities are facing, BLC, along with numerous other community banks, have decided to step up and assist our customers in any way possible," said BLC Community Bank President, Steve Tramp. "We have been waiving fees and transaction requirements, deferring payments, allowing interest-only payments and making emergency loans. We have also funded nearly $32 million in SBA Paycheck Protection Program Loans, protecting close to 4,000 jobs."
BLC's popular InterestPlus Checking account typically requires 12 debit card transactions during each statement period to earn the high rewards interest. Due to the Stay-at-Home order, reaching that requirement is no longer realistic without customers being able to go out and use their debit cards around the community. This qualification was initially waived for March and April, but has now been extended through May (Direct Deposit/ACH and e-statements still required).
While the current funding for the Paycheck Protection Program was exhausted, BLC continues to offer payment deferrals for businesses experiencing cash flow interruption. "We have been very diligent in staying informed on the programs available to assist small businesses," said Adam Lange, Chief Lending Officer at BLC Community Bank. "We've taken a proactive approach in reaching out to our clients so we can educate them on the potential opportunities that are available." Individuals may also qualify for payment deferrals, although the repayment is different for home loans. Customers should contact a loan officer to discuss their current situation.
BLC has also increased donation efforts within the community. As part of Community Banking Month which takes place in April, they are supporting local businesses by purchasing gift cards, placing product orders, and providing employees with lunches. Additionally, BLC has recognized the struggles local charities are facing as needs have greatly increased within the community, and will be donating thousands of dollars to local organizations for assistance during COVID-19.
BLC Community Bank has proudly served generations of individuals, families and businesses in the Heart of the Valley since 1906. For additional information on BLC Community Bank please visit www.blccb.com. Member FDIC | Equal Housing Lender.
SOURCE BLC Community Bank
Share this article