Coronavirus Response Page

Message Center Regarding Coronavirus (COVID-19)

We’re here for you.

During these unprecedented times brought on by the Coronavirus, we want to let you know that Union Savings Bank is here for you and meeting this situation head-on. Our team members are ready to support you and your financial needs.

Branches and ATMs. As of Monday, May 17, our lobby and drive-up hours have changed and vary by branch. Before your next visit, review the new schedule here. You can also bank via our ATMs where available. To complete a transaction that cannot be done online or through our mobile app, please call the number listed on each branch location page.

 

Economic Impact Payment Information for USB Customers

The federal government approved a third stimulus plan to provide much-needed financial assistance to individuals. The stimulus money will be direct deposited. For those who will receive their EIP by paper check, those will come directly from the IRS. The best way to find out the most recent and accurate information on these payments is on the IRS Economic Impact Payment Information Center website. There you will find information on who is eligible for the economic impact payments when you’ll receive your payment, how you’ll receive it, and any other questions you might have specifically regarding the disbursement of the stimulus payment.

If you receive a paper check, you can use the USB Mobile App to securely deposit it without leaving home. You can also deposit your check at one of our ATMs or branch drive-up windows. Find your nearest neighborhood branch on our branch locator.

Also note that the IRS urges taxpayers to be on the lookout for scam artists trying to use the economic impact payments as cover for schemes to steal personal information and money. Remember, the IRS will not call, text you, email you, or contact you on social media asking for personal or bank account information – even related to the economic impact payments. Also, watch out for emails with attachments or links claiming to have special information about economic impact payments or refunds. Visit our page about phishing and spoofing scams for additional information and resources to guide you, your family, and your business during this time.

USB Business Customers – PPP Loan Information

PPP Loan Forgiveness. At USB, we are proud to have helped many of our customers secure funds through the SBA’s Paycheck Protection Program (PPP) in order to help keep their businesses operational during these challenging times. If your business received a PPP loan, find the latest information on what the SBA is requiring you to do in order to request PPP Loan Forgiveness by clicking here.

Child Tax Credit Payment Information for USB Customers

The expanded and newly-advanceable Child Tax Credit was authorized by the American Rescue Plan Act in March, which raised the maximum Child Tax Credit in 2021 to $3,600 for children under the age of 6 and to $3,000 per child for children ages 6 through 17. The IRS is scheduled to begin these monthly payments Thursday, July 15. Families who qualify will receive their July 15 payment by direct deposit in the bank account currently on file with the IRS. Those not enrolled for direct deposit will receive a check. The IRS has also upgraded an online tool to enable families to update their bank account information so they can receive their monthly Child Tax Credit payment. Any updates made by Aug. 2 will apply to the Aug. 13 payment and all subsequent monthly payments for the rest of 2021. You can access the IRS portal here.

 

Safety of Customers and Employees is our Priority

USB is actively monitoring all public health guidance regarding the Coronavirus to assure that our customers and employees are safe. Please note the following steps that we have taken:

  • As of Tuesday, June 1, based on the recent CDC and state guidelines, masks are optional for fully vaccinated visitors and employees inside our branch lobbies. The CDC also advises individuals who are not fully vaccinated to continue wearing a mask.
  • Our branches and office locations are being cleaned thoroughly every day and our cleaning team is also taking extra precautions by sanitizing surfaces and ATM machines
  • All USB team members have been educated on preventative actions they can take, e.g. hand washing, cough and respiratory etiquette, etc.
  • We are limiting the number of face-to-face meetings, choosing conference calls as safer alternatives
  • We are actively communicating with our customers and staff to keep them informed, as the health and well-being of the entire USB family is our top priority during this period

Financial Assistance for Individuals, Families and Businesses

For those facing immediate financial hardships, we are doing the following:

  • Payment deferral programs for consumer and business loan customers (see FAQ section for details)
  • Providing next business day availability on nearly all deposited items, including on those made through our mobile banking app, remote deposit capture service and at our ATMs
  • Customers may request increases in debit card purchase limits, ATM withdrawal limits or mobile deposit limits
  • Additionally, we have enacted a Federal Reserve ruling to allow our customers to make an unlimited number of transfers and withdrawals from their savings accounts, with no excess activity fees incurred, until further notice.

Please call us at 866.872.1866 to discuss any of these services.

Stay connected to your accounts with USB Online and the USB Mobile App

If you haven’t done so already, we encourage you to sign up for USB Online and download the USB Mobile App so you can handle your banking needs from almost anywhere, anytime. You can check balances, transfer funds, deposit checks, make payments and more.

Business Customers can enroll in USB Business Online Banking and download the USB Business Mobile App.

How to Navigate USB Online, USB Mobile App, Bill Pay and more

With USB Digital Banking Tutor, manage your bank account with ease. Learn how to use our digital and mobile banking products so you can better manage your finances wherever you are, anytime you want.

Follow step-by-step digital guides for enrolling in USB Online, discover how easy it is to make a mobile deposit and pay bills online on the USB Mobile App and USB Online.

Other ways to stay connected to your accounts

Branches and ATMs. As of Monday, May 17, our lobby and drive-up hours have changed and vary by branch. Before your next visit, review the new schedule here. You can also bank via our ATMs where available. To complete a transaction that cannot be done online or through our mobile app, please call the number listed on each branch location page.

Telephone banking. If you cannot connect online or from our mobile app, please call 800.860.6670

 

Beware of Scams

Look out for suspicious email and text messages, medical supply scams, and fraudulent donation sites that may impersonate a company, charity, or government agency. The intent is to convince you to share sensitive information such as usernames and passwords, make purchases or donations on spoof websites, or download malware onto your device by opening a malicious attachment. Union Savings Bank will never ask you for your personal information or log in credentials in an email or text message. A government agency or legitimate business will never ask you to provide payment by gift card or virtual currency. If you receive a suspicious email or text message, don’t respond, click on any links, or open attachments. Verify the authenticity of any website before making a purchase or donation. Please call our Customer Service Center at 866.872.1866 if you have any questions or concerns about your accounts. Click here to find out more about phishing and spoofing.

If you need additional assistance, let us know.

If you have been negatively impacted by illness or work stoppage due to the Coronavirus and need additional assistance related to your accounts, please call us at 866.872.1866 or contactUSB@unionsavings.com.

Where to go for our latest Coronavirus updates and information

We will continue to communicate with you as new developments occur and will be updating our Coronavirus Response website page as things change.

If you have any questions, please call our Customer Service Center at 866.872.1866

Frequently Asked Questions

 

Q. When will the latest economic impact payments and checks start arriving?

A. The federal government approved a third stimulus plan to provide much-needed financial assistance to individuals. The stimulus money will be direct deposited. For those who will receive their EIP by paper check, those will come directly from the IRS. The best way to find out the most recent and accurate information on these payments is on the IRS Economic Impact Payment Information Center website. There you will find information on who is eligible for the economic impact payments when you’ll receive your payment, how you’ll receive it, and any other questions you might have specifically regarding the disbursement of the stimulus payment.

 

Q. How do I receive Child Tax Credit Payments?

A. The expanded and newly-advanceable Child Tax Credit was authorized by the American Rescue Plan Act in March, which raised the maximum Child Tax Credit in 2021 to $3,600 for children under the age of 6 and to $3,000 per child for children ages 6 through 17. The IRS is scheduled to begin these monthly payments Thursday, July 15. Families who qualify will receive their July 15 payment by direct deposit in the bank account currently on file with the IRS. Those not enrolled for direct deposit will receive a check. The IRS has also upgraded an online tool to enable families to update their bank account information so they can receive their monthly Child Tax Credit payment. Any updates made by Aug. 2 will apply to the Aug. 13 payment and all subsequent monthly payments for the rest of 2021. You can access the IRS portal here.

 

Q. Are the USB branches and ATMs open?

A. Yes. As of Monday, May 17, our lobby and drive-up hours have changed and vary by branch. Before your next visit, review the new schedule here. You can also bank via our ATMs where available. To complete a transaction that cannot be done online or through our mobile app, please call the number listed on each branch location page.

Q. Will you be disinfecting locations daily?

A. Our branches and office locations are being cleaned thoroughly every day, and our cleaning team is also taking extra precautions wiping surfaces and ATM machines

Q. If a Union Savings Bank branch is temporarily closed, how can I take care of my banking needs?

A. The USB Mobile App and USB Online help you handle your banking needs from almost anywhere, anytime. You can check balances, transfer funds, deposit checks, make payments and more.

Business customers can access USB Business Mobile App and Business Online Banking or any of our other business banking convenience products.

Q. Where can I learn more about the Coronavirus (COVID-19)?

A.

  • The Centers for Disease Control and Prevention (CDC) and
  • World Health Organization (WHO)
  • Connecticut residents can call 2-1-1
  • Connecticut business owners can call the Department of Economic and Community Development (DECD) hotline at 860.500.2333

Q. How can I gain access to my safe deposit box?

A. To gain access to your safe deposit box, please call the number listed on the branch location page where your box is located

Q. Is Union Savings Bank doing anything to assist loan customers who are financially impacted by COVID-19?

A. Yes! As the Coronavirus (COVID-19) continues to impact the region, we understand our customers could be adversely impacted. While we are not sure how long this will last, we have decided to help by providing a temporary loan modification program.

The USB Temporary Loan Modification Program has two options for qualified current personal and business loan customers:

  • Principal Deferral Program. The principal portion of the monthly loan payment will be deferred for up to six months.  Customer will make monthly payments of interest and escrow (if applicable)
  • Full Payment Deferral Program. Monthly loan payments including escrow (if applicable) will be deferred for a period of up to six months

For our current residential mortgage customers, we are providing these additional loan modifications:

  • No new foreclosures for 120 days beginning  March 31, 2020
  • All residential mortgages, which remain in a loan modification program, will not be reported as late but maybe reported as a forbearance

Please call our Customer Service Center so we can help you, 866.872.1866.

Q. What additional assistance is there for small businesses?

A.

  • On April 17, 2021, the SBA announced the Restaurant Revitalization Fund. Details on application requirements, eligibility, and a program guide are now available in English at www.sba.gov/restaurants or in Spanish at www.sba.gov/restaurantes
  • The Small Business Administration is offering disaster assistance low interest rate loans to small business customers in Connecticut. To find out more visit the SBA site
  • To provide emergency cash flow relief to small businesses and nonprofits negatively impacted by the coronavirus, the State of Connecticut is working on loan assistance programs. For the latest details, click here
  • The U.S. Chamber of Commerce launched the Save Small Business Fund as part of the nationwide effort to address small business owners’ immediate needs, mitigate closures and job losses, and mobilize the long-term support the small business community needs for recovery. Find out how you can apply for a grant on their Save Small Business Fund webpage https://www.savesmallbusiness.com

Q. How does COVID-19 affect the stability and health of USB?

A. USB is a well-capitalized bank and has ample resources to deal with whatever issues COVID-19 may bring. The actions taken by USB were done to protect our customers and employees from potential exposure to COVID-19. Your accounts continue to be protected by the financial strength of USB, which has endured for over 150 years, and deposits continue to be insured up to FDIC limits.

Click here for a statement from the State of Connecticut Department of Banking.

Q. Did the contribution deadline for a Health Savings Account (HSA) or Individual Retirement Account (IRA) change due to the coronavirus pandemic?
A. Yes, the 2019 contribution deadlines for both HSAs and IRAs have been moved from April 15 to July 15, 2020. Click here for additional information from the IRS.

Q. Do I have to take my IRA Required Minimum Distribution (RMD) for 2020?
A. No. The recently enacted CARES Act (Coronavirus Aid, Relief and Economic Security Act) contains provisions that change some of the rules for individual retirement plans as follows:

  • 2020 RMDs are not required for Inherited IRAs, Traditional IRAs and SEP IRAs.  Whether or not you wish to take advantage of this provision should be carefully considered and discussed with your tax professional.
  • If you have already taken your 2020 RMD, you may be able to return it into your IRA with a rollover contribution.

Q. If I am set up to automatically receive an IRA distribution(s), will those continue?
A. Yes, USB will continue to act on your current IRA distribution authorization unless you direct us otherwise.If you would like to suspend your 2020 IRA distribution(s),please contact our Customer Service Center at 866.872.1866.