Pub. 9 2019-2020 Issue 6

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S — H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S May • June 2020 5 Nothing is more important to us than the safety and health of our employees and customers — including the safety and welfare of our customers’ finances. Banks of all sizes are addressing customers’ needs on an individual basis, using initiatives including: • Offering hardship programs • Waiving certain fees • Deferring loan payments • Providing temporary credit lines • Modifying loans • Helpingcustomersusemobileanddigitalbankingplatforms • Alerting customers to scams related to the coronavirus • Offering “safe” banking services by expanding drive- thru and ATM operations • Establishing “Golden Hours” when at-risk individuals such as seniors can bank in a branch with less risk of exposure to the virus We can take those measures because America’s banks entered the pandemic crisis stronger than they have ever been. Banks have record liquidity and capital levels and employ reliable and prudent risk management programs. That healthy position has also allowed banks to give generously toward efforts to assist communities affected by the crisis. Hundreds of millions of dollars have been donated by banks directly to causes supporting businesses and individuals. Banks have donated personal protective equipment (PPE) to hospitals and stepped in to provide additional funding streams for hospitals seeking to increase their capacities to care for people sickened by COVID-19. Banks are also taking care of and protecting their employees amid the crisis by limiting lobby hours, amending work options for employees at high risk of infection and increasing pay for customer-facing employees. Bankers may not be on the front lines caring for customers’ health, but they are certainly the first responders to crises that involve finance. U.S. Senator Cory Gardner said it best on a recent CBA webinar: “Well capitalized banks have made all the difference in this. You’re at the front line of this recovery.” Customers can rest assured that their banks will do everything possible to protect their financial health, so they can focus on keeping themselves healthy and safe amid the coronavirus pandemic. n