Update From Our President & CEO
Ion Bank stands ready to help our customers during these difficult times.
As a financially strong, independent mutual bank, Ion Bank’s focus is on the well-being of our customers, employees and communities we have served for 150 years.
We’re here to assist each and every personal and business customer through the Coronavirus pandemic with any questions you have about your deposit or loan products and services.
Personal Banking Customers
- You have direct access to your favorite banker by calling 203.729.4442. We are ready and available to speak with you about your individual situation and work together as your trusted financial partner.
- You can request increases in debit card and mobile deposit check limits by calling our Contact Center to discuss your unique situation.
- Personal banking customers, with a need, may also be eligible for certain fee waivers.
- Beginning April 1, 2020, we will temporarily provide advanced access to all direct deposits received through the Automated Clearing House (ACH). Instead of waiting for the bank to receive the funds, we will make that money available as soon as we receive the notification, which could be up to two days earlier than your normal deposit.
- The Federal Reserve has temporarily suspended the six (6) transfer per statement cycle limit on Money Market and Savings accounts. As a result, Ion Bank will not charge a fee should you exceed that number of transactions during this temporary suspension. We will place a similar message 30 days in advance of when the limitation will be back in place.
Personal Lending/Mortgage Customers
- Personal loan and mortgage customers may be eligible for various types of loan payment assistance, including immediate loan payment deferrals.
- We are ready and available to speak with you about your individual situation, please call 203.729.4442 for assistance.
Business & Commercial Banking Customers
- Business and commercial banking customers who are experiencing financial hardship should click here to find contact information for your loan officer who can discuss options with you and create a customized plan that fits your business.
- You may be eligible for various types of loan payment assistance, including immediate loan payment deferrals, interest only payments, further credit extensions or other forms of assistance.
- As always, we will partner with you to explore other options available to you including services provided by the Small Business Administration (SBA) and the Connecticut Department of Economic and Community Development.
- With regards to your cash management needs, you can request increases in Automated Clearing House (ACH) and remote deposit check limits to support your changing cash flow. Please call Cash Management Customer Support at 833.466.1466 to discuss further or submit a request through the Secure Forms option within iBanking.
- Beginning April 1, 2020 we will temporarily provide advanced access to all credits (deposits) received through the ACH. Instead of waiting for the bank to receive the funds, we will make that money available as soon as we receive the notification, which could be up to two days earlier than normal.
As you work to keep yourself and your loved ones safe, please know that all of us at Ion Bank are doing our part to help you, our employees, and our community through this unprecedented time. Working together, we will get through this current crisis and we thank you again for your continued support.
President & CEO
Precautionary Measures We Are Taking
As we celebrate our 150th Anniversary this year, please be assured that Ion is in a very strong position to weather the global challenges created by the Coronavirus (COVID-19) and stand ready to maintain service to our customers and communities throughout the current challenges. As the situation continues to develop, we would like to provide you with an update on the precautions and preventive measures we are taking to help eliminate the spread of the virus.
- Meetings are now being conducted via conference call, and we are practicing “social distancing” wherever possible. We have shifted some employees to work in buildings where more space is available. Also, our Information Technology Department continues to expand the current number of employees that can work from home.
- We have stepped up cleaning schedules of our branch offices, drive-ups, and PTMs/ATMs as well as employee workspaces.
- Ion’s Senior Leadership Team is meeting regularly to review key aspects of our current pandemic plan and identify any necessary additional precautionary steps.
- We continue to monitor guidance from the State Banking Department regarding our current operations and accommodations.
We are currently following any new developments as they are made available by the Centers for Disease Control https://cdc.gov and World Health Organization https://www.who.int, as well as watching for any mandates issued by our Local, State, and/or Federal Government.
As a reminder, the CDC always recommends everyday preventive actions to help eliminate the spread of respiratory viruses, including;
- Wash your hands often with soap and water for at least 20 seconds. If soap and water are not available, use an alcohol-based hand sanitizer
- Avoid touching your eyes, nose, and mouth with unwashed hands
- Avoid close contact with people who are sick
- Stay home when you are sick
- Cover your cough or sneeze with a tissue, then throw the tissue in the trash
- If a tissue is not available, cough or sneeze into your elbow
- Clean and disinfect frequently touched objects and surfaces
Again, our priority in this situation is to protect our employees, our customers and our communities from unnecessary exposure. We will continue to provide customers and employees with regular updates on any further developments to our operation….and look forward to the next 150 years.
Convenient Banking Services Available to You
During this time we strongly encourage customers to use electronic banking services whenever possible. Ion Bank offers a wide range of services that are available to you from the comfort of your home.
- Our Online Banking system, iBanking, is available to you 24/7 from your PC or on your phone using our Mobile App. If you have not already enrolled in our Online Banking, now may be a great time to do so and we are available to help. Click here to enroll today.
If You Have Experienced a Financial Hardship as a Result of COVID-19
The COVID-19 pandemic is adversely affecting many citizens from our local communities and we’d like to help. Ion Bank will offer assistance to those affected to help ease the financial burden many are facing. If you or someone you know is experiencing any difficulties during these challenging times, please call us at 203.729.4442.
Beware of Fraudsters
Please remember to guard your confidential information. During times like these, there tends to be an increase in fraudulent activity. Now, more than ever, it is important to place security top of mind and keep your information safe. Ion Bank will never call you and ask for your PIN, account number, or Social Security number, so be on guard if you receive any unsolicited calls from fraudsters who claim they are from Ion Bank. A couple of examples of fraud scenarios we expect to see are:
Phishing Emails – Cybercriminals may send emails that claim to be from legitimate organizations with information pertaining to the virus. Emails may ask you to open an attachment or click on the link within the email to see the latest statistics. If you click on the attachment or embedded link, you’re likely downloading malicious software onto your device. Click here to see some tips for recognizing and avoiding these phishing emails.
Fraudulent Checks – As you may or may not be aware, the government has been tossing out the idea of sending checks to individuals in the coming weeks. Please keep in mind that the government will not ask you to pay upfront in order to receive a check. The government also will not ask you for confidential information such as your PIN, account number, or Social Security number. Click here to read an article that the Federal Trade Commission released on this topic.
Please visit the Federal Trade Commission website for more information on the latest scams surrounding the Coronavirus.
Valuable Resources for Information
As the situation evolves, it is important to receive information from reputable sources. Here are some sources we recommend obtaining information from:
- Centers for Disease Control and Prevention (CDC) – includes the most current national information about the Coronavirus.
- World Health Organization (WHO) – here you will find the latest situation updates and data regarding the Coronavirus outbreak around the globe.
- State of Connecticut – provides updates surrounding the Coronavirus outbreak in the state.