People’s United Bank Serving its Customers and the Community in the Pandemic
As a community-oriented bank, People’s United Bank has a responsibility to ensure the health and well-being of its customers, colleagues, and communities, especially during this time of uncertainty related to COVID-19. Consistent with its long history of providing support in times of need, People’s United recently announced customer relief and support initiatives designed to ease the pressure of recent events, including waiver of fees on a case-by-case basis, consumer and business loan assistance, which includes a 90-day foreclosure moratorium on eligible residential loans for customers who may need it, business card relief, and SBA, State, Municipal support. They also processed more than 9,000 applications totaling more than $2.2 billion as a participant in the Small Business Administration’s Payroll Protection Program, helping hundreds of small businesses in our communities access the urgent capital they need to support their businesses, families and their employees.
People’s United Bank and it’s two charitable foundations anticipate allocating more than $3 million in funding in support of COVID-19 relief efforts, including: Donation of N95 Face Masks to local hospitals in need, $250,000 committed in financial support to COVID-19 Relief Funds established by its philanthropic partners, more than $1.1 million allocated in general operating support for nonprofits, and accelerating grant payments and offering flexible requirement, among other initiatives.
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