WI Financial Institutions Focus on Service During the COVID-19 Crisis
The physical and financial wellness of consumers is top of mind for Wisconsin financial institutions says, Wisconsin Bankers Association and The Wisconsin Credit Union League.
Mar 20, 2020
By Sammy Dennis & Eric Skrum
Wisconsin financial institutions understand the importance of stable and uninterrupted delivery of important financial services, such as access to money and credit, during this time of crisis.
That is why all Wisconsin banks and credit unions remain open for business and will continue to be available to meet the financial needs of consumers and businesses. State and federal regulations require these institutions to be prepared for situations like pandemics, with tested and proven business continuity plans and procedures that ensure they continue to serve their local communities during difficult times. The most important thing for the public to understand is that your money is safe and sound in a bank or a credit union. Deposit insurance covering at least $250,000 per person ensures the security of consumers’ funds.
The physical and financial wellness of consumers is top of mind for Wisconsin banks and credit unions. They stand ready and able to assist customers through the financial hardships they may encounter in the coming weeks.
Regarding physical wellness, consumers may notice slight changes at their financial institution, such as drive-through only access, limited hours, or the need to schedule an appointment. Banks and credit unions will continue working to provide uninterrupted services to meet the financial needs of consumers. Please remember, many institutions now offer robust remote-access technologies, including mobile account access, telephone banking, and ATMs.
Wisconsin financial institutions’ safety measures are designed to protect the health of employees and consumers, while providing continuous access to financial resources.
Regarding financial wellness, banks and credit unions are in constant contact with federal, state, and local officials strategizing how best to coordinate available public and private financial resources and exploring all possible options for expanding access to credit, together with regulators and other government agencies.
Rest assured, even in uncertain economic times like now, all state and federally chartered depository institutions maintain ample deposit insurance and continue to be a trusted partner in helping consumers weather unexpected financial strain.
We are all in this together. Communication is key. If consumers have any questions on how to access their funds or need advice on financial options or strategies to use during the COVID-19 crisis, they should contact their bank or credit union today.