A Note to Customers Concerning CoronavirusMarch 13, 2020
Banking is essential – that’s according to the recent “Safer at Home” guidelines provided by State of Wisconsin Gov. Tony Evers. Oostburg State Bank is committed to providing access to your money. Here are the top five things you need to know about your money and banks under “Safer At Home.”
- You have continued access to your funds and bank services.
Banks are considered an essential service which means you continue to have access to your funds through in-person services and self-service tools, such as mobile or online banking.
- Your money is safe, secure, and insured.
FDIC deposit insurance currently covers up to $250,000 per person and ensures the security of consumers’ funds. Congress is working on legislation providing authority for the FDIC to increase this coverage through December 31, 2020. No consumer has lost a single penny in the history of this insurance fund.
- Oostburg State Bank is prepared.
Banks are prepared for situations like a pandemic, with tested and proven business continuity plans and procedures. Although state and federal regulations require banks to be prepared, you’ll find that community banks like Oostburg State Bank are prepared because they want to continue to serve, not because they are required.
- Oostburg State Bank is looking out for you, your family, and your business.
Wisconsin’s banks, including Oostburg State Bank, are proactively contacting customers, offering assistance in the form of fee waivers, loan payment deferral programs, credit card payment relief, suspension of foreclosure and repossession programs, and more. Bankers are also helping their customers apply for grants offered at the state and federal level as well. Congress is also working on providing more assistance to businesses through banks in the form of additional changes to federal programs, such as the SBA program.
- Oostburg State Bank is listening and ready to act.
Customers should contact their banker to talk about how COVID-19 is affecting them, and how the bank can help. Oostburg State Bank, along with the rest of Wisconsin’s banking industry, is strong and ready to help.
Need assistance? Contact Oostburg State Bank today.