WATERBURY, Conn., March 17, 2020 /PRNewswire/ -- Webster Bank today announced support for consumers and businesses facing financial hardship due to the economic impact of COVID-19, as well as additional funding for local community organizations.
"We recognize that the emergence of COVID-19, and the dramatic steps we all must take to curtail its spread, will create financial and other challenges for our customers and communities," said John R. Ciulla, Webster President and Chief Executive Officer. "Consistent with our long history of supporting our customers in times of need, Webster is committed to providing financial flexibility to the individuals, small businesses and corporations that we serve."
For Our Customers
To support Webster customers affected by the pandemic, effective immediately our bankers are ready to provide several flexible service options to alleviate financial pressures, including:
- Increased, individualized daily Webster debit card spending limits
- Waived penalties for early CD withdrawals up to $25,000
- Increased, individualized remote deposit limits
- Options for payment deferrals on mortgages, home equity or personal loans, and small business loans, based on need
- Expedited SBA application process for qualified businesses impacted directly or indirectly by the pandemic, including vendors or other external business partners
In addition, Webster is placing a 90-day foreclosure moratorium on Webster residential loans.
Our bankers are our strongest asset, and we are taking steps to keep them safe so they can continue to deliver exceptional service for our customers. All Webster customers are encouraged to bank remotely by using convenient and secure online banking and the mobile app. The Customer Care Center is available 24 hours a day, 7 days a week by calling 800-325-2424.
For Our Communities
Consistent with our commitment to the communities we serve, Webster will donate $250,000 to support nonprofit organizations throughout the bank's footprint. These funds will help provide urgent services to the public during the COVID-19 outbreak, including support for Feeding America Food Banks and to the American Red Cross' COVID-19 fund that supports disaster relief and blood services.
For 85 years, Webster has been part of the communities where we live and work. We will continue our service as we work to keep our customers, bankers and communities safe in this challenging environment.
Webster Financial Corporation is the holding company for Webster Bank, National Association and its HSA Bank division. With $30.4 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust, and investment services through 157 banking centers and 309 ATMs. Webster also provides mobile and online banking. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and HSA Bank, a division of Webster Bank, which provides health savings account trustee and administrative services. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.
SOURCE Webster Bank