NEW YORK, March 18, 2020 (GLOBE NEWSWIRE) -- Valley Bank has announced plans to aid and support its customers most deeply impacted by the spread of the new coronavirus. The initiatives are aimed at providing much needed relief to customers who may be affected by loss of work or loss of business revenue.
“We are already seeing how the new coronavirus is impacting the lives of people and businesses we serve in our communities,” said President & CEO, Ira Robbins. “As a partner in our communities, we’re not just going to stand on the sidelines. We’re right here with our customers and we’re going to be there to help them through this crisis.”
In addition to offering its full line of products and services during this challenging time, Valley has also outlined additional relief plans for customers. These relief programs, and potentially additional relief services, will be reviewed on a regular basis to ensure they are meeting the needs of the Bank’s customers.
For banking customers, Valley will be:
- Increasing debit card and credit card limits
- Increasing the money held in our ATMs to help ensure customers have easy access to their money.
Eligible consumer and commercial lending customers should contact their Valley representative to ask about:
- Interest and principal payment deferrals for up to 90 days
- Waived overdraft charges
- Waived penalties for early CD withdrawals for emergency needs
- Increased debit card and credit card limits
- Increased loan limits
Valley is also a preferred SBA Lender and will be able to implement any emergency plans enacted by the U.S. government.
Prioritizing the health and safety of customers and associates
Valley has also instituted a social distancing policy across all locations restricting travel, meetings and requiring associates who can work from home to do so.
Valley’s branches play a critical role in serving the needs of their communities. That role is not changing. However, to protect the well-being of their customers and associates, they are limiting access to branch lobbies. Going forward, if a customer needs to visit a branch to complete a transaction or check a safe deposit box, they will need to make appointment by calling their local branch directly. Branch drive-thru lanes will still be open during weekdays. On Saturday and Sunday only certain drive up locations will be open. Customers can find a complete list of open Saturday and Sunday drive thru locations at Valley.com/Coronavirus.
For up-to-date information, customers should regularly check Valley.com/coronavirus.
As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $37.5 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates many convenient branch locations across New Jersey, New York, Florida and Alabama, and is committed to providing exceptional service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. To learn more about Valley, go to www.valley.com or call our Customer Service Center at 800-522-4100.