MIDDLETOWN – With many facing financial hardships due to the COVID-19 pandemic, David W. Glidden, President & Chief Executive Officer of Liberty Bank, has announced relief options and solutions to help its customers.
These programs are available to Liberty’s personal and business banking customers who require financial assistance. The relief measure include loan payment deferrals, unsecured personal loans up to $5,000 for existing customers and the waiving of certain fees and others.
“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,” Glidden said.
For Consumer Lending customers, beginning Monday, March 30, Liberty will be offering 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. Liberty is offering customers immediate loan payment deferrals and financial relief for credit card holders such as fee waivers for late fees, over limit fees and rush card requests.
Consumer Banking customers may be eligible for certain fee waivers. Liberty is also waiving penalties for early CD withdrawals reducing the annual percentage rate to 0% for customers with an overdraft line of credit for the next 90 days. They are also allowing customers to request increases in debit card limits and remote deposit check limits.
Small Businesses & Commercial Banking customers are eligible for immediate loan payment deferrals, interest only payments, further credit extensions or other forms of assistance.
As a part of social distancing procedures, Liberty branches will be operating via customer drive-up windows only and branch lobbies will be by appointment only.