To Our Customers and Community,
With the State of Connecticut's first phase of re-opening beginning today for some business sectors, I want to provide an update about how Thomaston Savings Bank remains committed to meeting your financial needs.
Since the early stages of the COVID-19 pandemic and the subsequent unprecedented shutdown of businesses and schools, our team took swift action to support our customers and community:
- We continue to offer relief programs including loan payment deferments and various service charge waivers to help consumer and business customers facing financial hardship. If you have concern about your financial situation, please visit our COVID-19 Resource Center for more details about how we may be able to help.
- We realigned internal teams and had over 50 bankers working to implement the U.S. Small Business Administration's Paycheck Protection Program (PPP). I am proud to report that, as of today, we have processed almost 1,000 PPP loans and put nearly $125 million into the hands of local business owners to help them keep their employees on payroll. We processed and funded these loans in only five weeks and, for perspective, this volume is what we normally process over a period of 18 months. If you are a business owner, please know that we are still accepting PPP loan applications and will continue to do so until the SBA's appropriated funds are exhausted. You can learn more about the program here.
- The Thomaston Savings Bank Foundation is responding to the needs of our community by opening phase one of its COVID-19 grant cycle. Grants will be considered to assist local nonprofit and government agencies who are on the front lines to prepare, rapidly respond to, and deploy resources for COVID‐19 relief. Organizations that are currently supporting basic human needs in the areas of crisis intervention, food security, or homelessness/housing services are encouraged to apply here by May 24.
- We have successfully maintained a healthy workforce and our team will continue to provide essential financial services. During this first phase of the State's re-opening plan, all in-person banking inside our branches will continue to be accessible by appointment only. We believe maintaining this protocol is the most effective method to comply with State guidelines for limiting the number of customers in our branches at one time, and to ensure continued good health for all.
- We still encourage you to call us, use our digital banking services, ATMs, and drive-thru teller services for your routine banking needs. If you do need to visit us by appointment, we have implemented various safeguards as recommended by the Centers for Disease Control and the State of Connecticut, including: frequent cleaning and disinfecting of all spaces, installed plexiglass barriers at all teller workstations and customer service desks, hand sanitizer made readily-available, and more. Another important health measure is the continued use of face-coverings by employees and customers. When visiting a branch by appointment, we ask that you utilize a face-covering. As a bank, physical security is always a top priority for us. With that in mind, you may be asked to temporarily remove your face-covering while at a safe distance before entering the branch, so our bankers can identify you before allowing access.
As a mutual savings bank, we remain backed by a strong financial position that will ensure we can continue to contribute to the recovery of our local community and economy. Please check our website
regularly for updates.
Thank you for the support and trust you continue to place in us. We wish you and your family good health, now and always.
Stephen L. Lewis
President & CEO