Business
Valley Bank Lay out key initiatives to support customers, businesses and communities impacted by the coronavirus
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
About this update from Valley National Bancorp
[{"type":"text","content":"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.\n “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 limitsIncreasing 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 daysWaived overdraft chargesWaived penalties for early CD withdrawals for emergency needsIncreased debit card and credit card limitsIncreased 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 comp...