By Phil Baldwin, Citizens Bank Chief Executive Officer
All of us are worried about our families and the financial protections we may or may not have. We stay awake at night watching the news of a spreading virus and see businesses close because of a lack of customers.
Just like you, we at Citizens Bank are following the news about the coronavirus (“COVID-19”). We understand your financial concerns and the serious financial hardships many are now facing.
I want to share with you the extensive steps Citizens Bank has taken to protect you, our employees and our communities through the People First Financial Protection Program offered exclusively to Citizens Bank customers.
Please contact us at www.thecitizensbank.net/financial-protection-program or at (844) 350-8512 if you want to enroll in the program.
The People First Financial Protection Program, described below, is available to Citizens Bank customers for the term of the COVID-19 crisis or through June 30, 2020, whichever comes first. The terms of the People First Financial Protection Program are subject to certain eligibility requirements, your specific circumstances and are subject to change without notice.
Small Business Loans – Our loan officers will work with you to customize loan payments to what your business needs, and can provide a wide range of payment options, including payment deferrals for up to one year, interest only payments and variable payment timing. We will waive late charge fees on small business loans during the term of the People First Financial Protection Program.
We are very experienced with all forms of government programs and can help you pick the right program for you and your business through the Small Business Administration and United States Treasury Department Assistance Programs.
Home Loans – We will help customers who have lost their job, been laid-off, or are experiencing other forms of income interruption because of COVID-19. Citizens Bank will provide payment deferrals up to 90 days and will waive late charge fees on mortgage loans during the term of the People First Financial Protection Program.
Citizens Bank promises your family’s home is protected. We will not foreclose on your home loan if you are enrolled in the People First Financial Protection Program during the term of this Program.
Emergency Cash Loans – We will provide emergency cash loans up to $1,000 to Citizens Bank customers who have lost their jobs, been laid-off or are experiencing another form of income interruption.
Personal Loans – If you currently have a personal loan at Citizens Bank and have enrolled in the People First Financial Protection Program, we will defer your loan payment up to 90 days. We will not repossess your car during the term of the People First Financial Protection Program.
Bank Fees Waived – Citizens Bank will provide penalty-free withdrawals from Certificates of Deposits and will waive other deposit account fees based on your needs. Your cash on deposit with us is yours and is available to you anytime you need it without any fees or penalties.
We stand with you. We will help you. We will overcome these challenges together.