The Liberty Team: “We are Always Here for Our Customers”
Middletown, Conn — David W. Glidden, President & Chief Executive Officer of Liberty Bank, and the Liberty team today announced a comprehensive list of effective and timely relief options and solutions for their customers. These programs are available at this time to Liberty’s personal and business banking customers who require much-needed financial assistance during this prolonged COVID-19 pandemic.
The relief measures being offered by the Liberty team include loan payment deferrals, unsecured personal loans up to $5,000 for existing customers, the waiving of certain fees and others.
“The COVID-19 pandemic is unfolding minute-by-minute. However, Liberty is in a strong position and as a mutual bank we are always here to support our customers and our communities in prosperous times and in times of crisis as we’ve done for the past 195 years,” said Glidden. “We are providing a series of immediate relief measures to help our personal, small business and commercial banking customers mitigate the financial hardships they are facing right now or navigate other challenges that could confront them during this unprecedented time.”
Consumer Lending Customers
- Liberty Bank will be offering their existing customers unsecured personal loans up to $5,000 with 0% interest repayment, which can be deferred up to six months after the loan is closed.* The unsecured personal loan will be amortized/paid off over 24 months (after the six month period). Liberty Bank is generously pledging a total pool amount of $5 million for this loan relief program. April 3 update:This program has exceeded capacity and is not currently available.
- Liberty Bank consumer loan customers are eligible for various types of loan payment assistance, including immediate loan payment deferrals. For more information, call Liberty’s experienced consumer loan team at 1.800.354.8950 to discuss your options.
- Customers with Liberty Bank credit cards are eligible for financial relief, including fee waivers for late fees, over limit fees and rush card requests. They should contact Cardmember Services at 1.800.558.3424.
Consumer Banking Customers
- Consumer customers may be eligible for certain fee waivers. Call Liberty’s Customer Service Center at 1.888.570.0773 to see how they can help.
- The Bank is waiving penalties for early CD withdrawals for the next 90 days.
- Liberty is reducing the annual percentage rate to 0% for the next 90 days for customers with an Overdraft Line of Credit.
- Customers can request increases in debit card limits and remote deposit check limits. Call Liberty’s Customer Service Center at 1.888.570.0773 to make the request.
Small Business & Commercial Banking Customers
- Liberty Bank’s small business and commercial banking customers are eligible for various types of loan payment assistance, including but not limited to immediate loan payment deferrals, interest only payments, further credit extensions or other forms of assistance.
- Small business and commercial banking customers who are experiencing financial hardship should call the Customer Service Center at 1.888.570.0773 to discuss these relief options.
- As always, Liberty will work with their small business customers if they need any assistance in pursuing other options they may be eligible for, including opportunities through the U.S. Small Business Administration (SBA) or other existing programs.
Additional Assistance for Customers
- If Liberty customers seek other assistance not listed above, call the Bank’s Customer Service Center at 1.888.570.0773. The Liberty team is ready to take your call and find solutions to fit your needs at this critical time.
Reminders & Tips for Customers
- As part of the Bank’s social distancing procedures, Liberty Bank branches will be operating via customer drive-up windows only and all branch lobbies will operate on an appointment basis only until further notice. For a list of Liberty Bank branch locations or to make an in-lobby appointment, please visit: www.liberty-bank.com/locations for locations and branch phone numbers or call the Customer Service Center at 1.888.570.0773.
- As alternatives to visiting a branch, Liberty customers can use or enroll in online banking at www.liberty-bank.com; use or download Liberty’s mobile banking app (the app has a blue background with the Liberty torch in red and white); or call LibertyLine Automated Telephone Banking at 1.800.622.6732.
- All customers need to be extra vigilant of online scams, phishing and other fraudulent activities that are on the rise due to the coronavirus headlines. The Federal Trade Commission provides valuable tips on how to avoid scams. Visit: www.consumer.ftc.gov.
- Liberty Bank and the FDIC would never call, text or email you requesting your account numbers, online banking login information or Social Security number. Your insured bank deposits are safe. For more information, visit www.fdic.gov/news.
- Customers can also visit Liberty Bank’s website at https://www.liberty-bank.com/privacy-and-security for a list of fraud prevention and protection information.
For further information from Liberty Bank regarding the COVID-19 pandemic and to find links to their other banking options, please visit their website at www.liberty-bank.com/covid-19.
About Liberty Bank
Established in 1825, Liberty Bank is Connecticut’s oldest bank, with over $5.9 billion in assets and 60 banking offices throughout the central, eastern, western and shoreline areas of the state. As a full-service financial institution, Liberty offers consumer and commercial banking, home mortgages, insurance, and investment services. Named ‘Top Workplace’ by the Hartford Courant for eight consecutive years, Liberty maintains a longstanding commitment to superior personal service and unparalleled community involvement.
*Must be an existing Liberty Bank customer as of March 23, 2020. Limit of one personal unsecured loan per household. The information provided assumes a loan amount of $5,000. At a 0.0% interest rate, the APR would be 0.0%. The monthly payment schedule would be 23 monthly payments of $208.33 and 1 payment of $208.41. The payment amount shown includes principal and interest. Payments start 6 months after loan origination and the loan balance is amortized over a 24-month loan term. Offer subject to change without notice. All loans are subject to credit and underwriting approval.