Cleveland-based KeyBank, which has more than a dozen braches in the Greater Lehigh Valley, said it is offering support services for those impacted by the coronavirus, COVID-19.
In addition to financial programs already in place, KeyBank said it would defer payment for at least 90 days for clients facing economic hardship because of the spread of COVID-19.
All consumer credit products such as mortgage, home equity, student, auto, lines of credit and credit card can be considered for this relief. The deferral will include both principal and interest payments for 90 days, upon client request. There will be no negative reporting to credit bureaus, however interest will continue to accrue during deferral.
It also has special loan products, including Small Business Administration loans for small business customers and a shorter-term unsecured personal loan of up to $5,000 for individuals.
The KeyBank Foundation also announced an initial $1 million commitment to communities across the bank’s footprint. These funds will be in addition to a 2:1 match for employee gifts up to $2,000 made through April 30.
The foundation will be shifting resources to support projects designed to minimize the impact of COVID-19 on communities’ most vulnerable members, small businesses, and neighborhoods.
Meanwhile KeyBank will be temporarily closing certain branch locations, effective Monday, March 30.
Branches that remain open will continue to operate as drive-thru and appointment only.