Updates Regarding COVID-19

 

Update as of April 1, 2020

As part of our deep commitment to the Berkshire communities we have served for over 150 years, and in response to the situation caused by the coronavirus pandemic, Adams Community Bank announces that on March 18th we dedicated an initial pool of $500,000 to assist those in the Berkshires affected by COVID-19.

This is a multi-layered approach directing assistance towards the communities we serve, our customers and employees during this time of uncertainty. Over the years we have successfully navigated through many local and national events and business cycles and again stand ready to do our part.

As your trusted financial partner, we are here to answer any questions you may have during this time of uncertainty. If you have been impacted by coronavirus and need assistance, contact us at (413)743-0001 where our team is ready to help you. These plans are in place through May 31 and may be extended as needed.

Further details of our assistance plan are shown below.

Sincerely,

Charles P. O’Brien
President & CEO

Assistance in the Berkshires

Thus far our humanitarian support has been directed towards local relief efforts with the following organizations:

  • $100,000 to the COVID-19 fund administered by the Berkshire United Way/Berkshire Taconic Community Foundation and their relief efforts throughout the county.
  • $100,000 to Berkshire Medical Center for the purchase of additional Personal Protective Equipment.
  • $25,000 to the YMCA dedicated towards one month of childcare expenses for Berkshire Medical Center staff

Economic Stimulus for the Berkshires

  • On March 19th we began buying lunch each day from local restaurants for our staff. As of March 31, we have spent $7,877 at 30 local restaurants.
  • On March 19th we began buying gifts cards from local restaurants for 20 groups of our first responders spread across each town where we have a branch. As of March 31, we have spent $3,500 at 11 local restaurants.

Assistance for Personal Customers through May 31
Adams Community Bank has created the ACB Consumer Assistance Loan Fund of $250,000 to lend to individuals and families who are existing customers with a hardship due to COVID-19.

  • Low interest and flexible repayment terms, with 0% interest and no payments for the first three months and a low fixed rate of 3.99% thereafter.
  • Customers can borrow up to $5,000 using a simple application found here or call (413)743-0001 to get started.

Additional Support for Our Customers through May 31

  • Customers can request refunds including overdraft fees, non-sufficient funds fees, and monthly maintenance fees.
  • Increased ATM and debit card cash withdrawal limits
  • Waived penalties for early CD withdrawals of up to $10,000
  • Allowance for temporary deferral of mortgage payments, based on need and request
  • We are suspending all foreclosures and evictions

Assistance for Business Customers through May 31
Adams Community Bank has created the ACB Small Business Assistance Loan Fund of $500,000 to lend to small businesses who are existing customers in need of working capital to help fund their operations.

  • Low payment and flexible terms, with interest-only payments for the first six months and a low-interest fixed rate of 3.99%.
  • Customers can borrow up to $25,000 using a simple application with fast turnaround, call (413)743-0001 to get started.

Additional Support for Business Customers

  • Waived penalties for early CD withdrawals of up to $10,000
  • Increased debit card withdrawal limits
  • Increased daily remote mobile deposit dollar limits
  • ACB’s traditional and Small Business Administration (SBA) loan programs for additional financing to existing and new customers.
  • Payment relief on commercial and small business loans, as needed.
  • Modifications for loan repayment relief, including interest-only payments, based on need and request

Accommodations and assistance for Employees

  • Our staff, including our hourly employees, will receive full pay during this time regardless of any changes to their work schedule and hours.
  • Some employees are already working from home or from another building
  • Some employees who have challenges with day care due to schools being closed are at home with their children and being fully compensated.

March 28th, 2020 Update – Williamstown Branch Temporarily Closes

March 28th, 2020 Update – Williamstown Branch Temporarily Closes

Out of an abundance of caution for the health and well-being of our customers and staff, our Williamstown branch will be temporarily closed due to localized cases of COVID-19.

The ATM can still be accessed.

March 27, 2020 Update – Providing Support & Relief During Times of Uncertainty, including FAQs

March 27, 2020 Update – Providing Support & Relief During Times of Uncertainty, including FAQs”

We understand that times like these can be challenging, and we want you to know that Adams Community Bank is here to help you navigate through financial stress caused by the COVID-19 pandemic. Our Customer Care Center has received many phone calls over the past two weeks so we assembled a list of these Frequently Asked Questions and Answers. We hope this information is helpful in answering some of your questions quickly, but we also understand that each customer’s situation is unique. Should you have additional questions please call us at 413-743-0001.

Also, should you be encountering temporary difficulty making your loan payment at this time, please reach out to us.

As always, as your trusted financial partner, we are here to answer any questions you may have during this time of uncertainty.

Sincerely,

Charles O’Brien President & CEO

Answers to Customers’ Frequently Asked Questions Regarding ACB and COVID-19

“Is the bank closed?”

Our bank is open for business, but we have altered our operations to protect the safety of our staff and our customers. For example, we have closed our branch lobbies until we have determined it is safe to resume normal operations. We will be adhering to the latest public health guidance in making that determination. In the meantime, we encourage you to use our drive-thrus and ATMs, along with mobile and online services to conduct your banking business.  Other services are available by appointment only.

At this time, representatives can be reached at 413-743-0001 during our extended hours of Monday, Tuesday, Wednesday and Friday from 8:00am to 5:30pm, Thursdays from 8:00am-6:00pm and Saturday from 8:00am to noon.

Is my money safe?

Yes, the safest place for your money is in the bank. As a member of both the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF), Adams Community Bank provides full insurance for its customers’ deposits and accrued interest without limit or exception. Deposits up to $250,000 are insured by FDIC. At our bank, deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).

I’m worried that if I get laid-off due to the virus, I won’t be able to make my monthly loan payment. Can the Bank work with me?

Our Lenders are working with our borrowers on a one-on-one basis. We are here to support our customers through this stressful period. Please call 413-743-0001 to be connected to one of our experienced lenders for assistance in getting the relief you need.

Are you still lending money?

Yes, our lending department is open for business. You can apply for a purchase, refinance or home equity on our website www.adamscommunity.com from the safety and comfort of your own home.

What is Mobile Check Deposit? How do I get it?

Mobile Check Deposit allows ACB Online Banking users to deposit a check directly into an ACB checking or savings account by using our Mobile Banking App. ACB Mobile is free to download and is available on Apple or Android devices, simply visit the apple or android store and search “Adams Community Bank” to download.

For more information, visit  https://www.adamscommunity.com/personal-banking/additional-services/ and click on Mobile Check Deposit. Certain restrictions do apply.

Can I visit the drive-thru for services such as needing a document notarized, opening a new account or to a get a new debit card?

Our branch locations have been accommodating most of these banking services through the drive-thru. For notary service, we recommend calling ahead for notary availability.  If it can’t be handled over the phone or at the drive-thru we are making appointments when necessary.

 Do I have access to my safe deposit box?

Yes, if you have an immediate need, please call 413-743-0001 to schedule an appointment to gain access to your safe deposit box.

 We also ask that you do not make an appointment to visit any of our branches if you are ill, if you have knowingly been exposed to the novel coronavirus, or are experiencing any known symptoms such as a cough, fever, fatigue, or difficulty breathing.

I’m a small business owner looking for resources and guidance on a state level, can you point me in the right direction?

Please check out the following link from the Mass.gov website or dial 211 for more information on how to obtain help for your business related to COVID-19.

https://www.mass.gov/info-details/covid-19-resources-and-guidance-for-businesses

March 19, 2020 Update - Banking in the Berkshires is Safe and Sound

March 18, 2020 Update

Effective March 20, all Adams Community Bank branches will offer banking services only through drive-ups at our locations in Adams, Cheshire, Lenox, Lanesboro, Lee, North Adams, and Williamstown. Branch lobbies will be temporarily closed to the public until further notice as a proactive measure to help mitigate the spread of the COVID-19 virus. Specific banking needs normally done in the lobby will still be offered by appointment only. We also recognize that April 1 and 3 typically have elevated levels of branch activity and so we will plan to have selected lobbies open at our Adams, North Adams and Lenox branches on those days.

As always, our online banking, mobile banking and ATMs are available for many banking functions.

What we are doing for our:

Personal Banking Customers

  • We have recently increased our customer debit card limits.
  • We have increased the decision-making authority of our loan officers to empower them to approve the forbearance of consumer and mortgage loan payments for one to three months.
  • Effective March 20 we will redeploy some of our branch team to enhance the staffing of our Customer Care call center to extend the hours of this department from 7:00am to 7:00pm Monday-Friday, and 8:00am to noon on Saturday.

Commercial and Government Banking Customers

  • We have recently increased our customer debit card limits.
  • We have increased the decision-making authority of our commercial loan officers to empower them to approve the forbearance of commercial loan payments for one to three months.
  • We have set aside a pool of money to offer small business grants to help businesses that do not have the ability to pay.
  • We are calling our commercial and government banking customers to inquire if they need any financial assistance during this time.
  • Government support programs and assistance will be increasing in the days ahead for small businesses. The Commonwealth of Massachusetts has initiated a $10 million small business recovery fund and a new Small Business Administration fund for $50 million. We expect to see additional innovative initiatives for consumers and small businesses in the days ahead.

Communities

  • We have set aside a pool of money to offer humanitarian support to the residents of the Berkshires.
  • We will provide economic stimulus here in the Berkshires by increasing our locally based purchasing efforts whenever possible.

Staff

  • Our staff, including our hourly employees, will receive full pay during this time regardless of any changes to their work schedule and hours.
  • Some employees are already working from home.
  • Some employees who have challenges with day care due to schools being closed are at home with their children and being fully compensated.
  • We have made changes with social distancing, canceled business travel, enhanced the deep cleaning of our branches, and provided hand sanitizer and wipes throughout our branches.
  • We have moved certain staff people to other buildings to minimize the potential impact of COVID-19 on any one department.

Customer contact information

If you are experiencing financial hardship because of COVID-19, we may be able to help. Please call any of our loan officers, or our Customer Care Center, at the numbers shown below to review your individual needs.

*Do not send confidential information such as account number or social security number via email.

These bank officers are prepared to listen to your needs and find a solution for you.  Feel free to email one of them, or to call at 743-0001.

For all questions on deposit accounts please call Customer Care at 743.0001.

Be alert to increased scams related to Coronavirus

We are always alert about coaching our customers to avoid scammers who attempt to take advantage of events like this to perpetuate fraudulent activity. Below are some specific scams of which we’ve been made aware, and we encourage you to remain vigilant at this time to protect yourself.

  • Unsolicited emails claiming to be from organizations such as Centers for Disease Control (CDC), World Health Organization (WHO) or others containing attachments or links. These may attempt to install malicious malware on your device or trick you into providing personal or financial information.
  • A fraudulent version of a map published by Johns Hopkins University that shares latest stats about COVID-19 is being used on malicious, illegitimate websites or emails to spread malware that attempts to steal users’ passwords. A link to the legitimate version of this map can be found at the link above and was shared in our communication last week.

As a reminder, Adams Community Bank will never contact you via email asking for personal or financial information, and you should never share sensitive information with anyone via email.

A sample of reliable websites

We are proud to call the Berkshires our home for more than 150 years and have seen our community respond wonderfully to past adversities.   We also know the size and scale of the COVID-19 outbreak is unique.  We stand ready to help our customers and communities navigate through this challenge.

If you would like to reach me directly my number is 749-1150.

Best wishes to you,

Charlie O’Brien, President & CEO

March 12, 2020 Update

As the COVID-19 virus affects us here in the Berkshires, Adams Community Bank is working to minimize its impact by following guidance from the Centers for Disease Control (CDC). We have taken a number of precautionary measures for the health and safety of our customers and colleagues.

We wanted to share a few of the ways we are here to serve you, our valued customer, during this time:

  • We encourage our customers to use the many remote banking tools that provide 24/7 access to your account(s) from home at adamscommunity.com or via the Adams Community Bank Mobile App to view transactions, check balances, make payments, deposit checks, and more. We’ve made enhancements that make it easier than ever to manage your account digitally. Alternatively, our telephone banking system (888-338-7272) and network of ATM’s throughout the Berkshires is also available 24/7.
  • Please know all our branch locations are operating as usual and our teams are available to serve you. We’ve augmented daily cleaning procedures with the use of stronger disinfectant products on high-touch surfaces, have made hand sanitizer readily available, and are educating branch teams on best practices recommended by the CDC.

If you’ve been impacted by COVID-19 and need our support, we are here to help. As a customer who is impacted, your financial needs will be unique to your situation. Our team is available to assist you with options based on those specific needs. Please contact our Customer Care department at 413-743-0001 to be put in contact with a banking professional with the expertise you require.

We will continue to closely monitor the situation and evaluate additional measures to support our customers and communities as needs arise.