April 2, 2021 – Coronavirus Update – PPP Status Update
Dear Essex Savings Bank Customers/Families,
For the health and well-being of our clients and staff, we are continuing to monitor the latest news about COVID-19 (Coronavirus). Due to the rapid progression of this virus, Essex Savings Bank is continuing to operate expanded drive thru services and is available by phone, email and online. While our lobbies are closed, we are continuing to meet with customers requiring in person assistance, such as to access to their safe deposit boxes, on an appointment basis. (Masks Required) To provide safety and separation as directed by the state, many of our staff have shifted to operating remotely while adhering to essential service needs. In an abundance of caution, we plan on continuing to operate this way for the foreseeable future until more data on the virus tracking and containment is obtained following the opening of businesses. We plan on remaining thoughtful for the health and well being of our customers and staff. Additionally, Essex Savings Bank, Essex Trust and Essex Financial Services fall under the “critical infrastructure workers” as defined by the Department of Homeland Security and continue to operate, as we have throughout this crisis.
Paycheck Protection Program
As a community bank, we continue to stand by your side in this unparalleled time of need. Currently, Essex Savings Bank is accepting only commercial banking customers (deposit and/or loan relationships) for PPP applications due to our resource constraints. To apply for the current round of PPP funding, please contact your local branch or your loan officer or email firstname.lastname@example.org to be placed on our PPP funding list. As a reminder, no paper applications will be accepted at any Essex Savings Bank location. The PPP application process is a web-based application through our web-based portal. On another note regarding round one of funding, the SBA has updated the loan forgiveness form for loan amounts of $150,000 and under, and the revised form is available through our PPP web-based portal. The SBA has issued an interim Final Rule reflecting the American Rescue Plan Changes. They are now accepting first draw applications as well as second draw applications if the first draw is fully disbursed. Several new organizational types have been added. The President has signed into law the extension of the program to May 31, 2021 and will give the SBA an extra 30 days, through June 30, 2021, to process loan applications. We look forward to assisting you through both the application and forgiveness process.
Due to the effects of COVID-19 delivery of your statement may be delayed. As an account holder, you have many alternative banking channels available to you if you do not wish to utilize the branch drive through. These services include eStatements, online account viewing, bill pay, transfers, person to person payments, mobile check deposit and more.
- Online banking is available (To register, click here to go to our Online Banking page)
- Mobile banking is available (Visit our Electronic Banking page to download the free Essex Savings Bank app from Google or the App store)
- Apply for a Mortgage Online
- Call (844) 824-9387 for online banking assistance
- Call our 24-Hour Phone Link at (888) 767-0046 for up to date automated account information
- Call us at (860) 767-4414 if you have any other questions
- Contact your employer for your paycheck to be direct deposited
- For businesses, consider applying for remote deposit capture to transmit checks to the Bank from your office and ask us about online wire capabilities
Please continue to keep informed and follow the guidelines of the CDC to help prevent the spread of this illness – https://cdc.gov):
- Clean and disinfect often (in addition to typical cleansers, hydrogen peroxide is effective in combatting the virus)
- Wash your hands using soap and water for at least 20 seconds frequently throughout the day
- Avoid close contact with people who are sick
- Stay home if you are sick (fever, dry cough and shortness of breath are signs of the coronavirus)
- Disinfect your phone and keyboard daily along with any shared devices
- Cover coughs and sneezes
- Wear a face-mask
We appreciate your efforts in preventing the spread of this virus by recognizing the signs of your own health issues. Please call us with your financial needs and questions. We continue to stand ready to assist with your financial needs.
Please continue to visit our website for any updates.
Gregory R. Shook
President & CEO