Camden National Bank announced new measures

Mar 20, 2020

Camden — To address growing challenges and financial hardships due to the spread of Coronavirus (COVID-19), Camden National Bank announced several measures to support its customers, employees, and communities.

COVID-19 payment relief program for customers

To support individuals and families there will be: an up to 90-day loan deferment program for those facing financial hardship due to interruption in income on qualified loans. During this time, interest will accrue, but customers won’t be charged any late fees or have impacts to credit. There will also be additional flexibility in access to credit products and support, as well as waived penalties for early CD withdrawals.

To support business customers there will be: waived late charges for payments on qualified loans; flexibility for higher limits related to remote deposit capture; options for payment relief on commercial and small business loans, based on need; assistance with access to any government sponsored support, including any state or federal lending assistance programs, such as Finance Authority of Maine or U.S. Small Business Administration; and expedited FAME and SBA application process for qualified businesses impacted directly or indirectly by the pandemic, including vendors or other external business partners.

The Bank is also encouraging customers to take advantage of its network of 71 ATMs and its full range of digital tools and services, which can be used remotely. With online and mobile banking, customers can monitor their accounts, deposit checks, pay bills, transfer funds, pay friends, live chat for assistance, and more.

Customers with challenges, needs, or questions can reach out to their local banking center by phone or the Customer Care Team, available 24/7 at 800-860-8821.

Supporting employee health and wellbeing

Earlier this week, the Bank announced it would be temporarily moving to drive-up service only at its banking center locations, with in-person visits by appointment, in order to help reduce the spread of COVID-19. The Bank has also been ramping up cleaning efforts at all its locations.

In order to keep employees safe, the bank is increasing education on appropriate hygiene practices and social distancing. It has also modified its travel policy, restricting business travel and requiring notification of personal travel to higher-risk locations. In addition, applicable employees are transitioning to working from home temporarily, with a goal of having more than half of the bank’s workforce remote in the coming week.

Relevant updates and the latest information can be found on Camden National Bank’s Coronavirus Updates page.

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