COVID-19: Norway Savings Bank announces financial hardship relief

To Our Valued Customers,

We know these are extraordinary times and many of our customers are struggling not only with the unknown, but also having the ability to meet day to day, week to week financial obligations. We recognize that some customers may face financial challenges as a result of illness and/or business interruption.

We are here to help by providing relief and resources to support individuals and businesses facing financial hardship resulting from the COVID-19 (Coronavirus) pandemic.

Personal Banking Customers –

  • Mortgages:
    During April, May and June, 2020, Norway Savings Bank is waiving late fees on mortgages for customers financially impacted by the pandemic. If you are late making your mortgage payment during this 90 day period, the late fee will automatically be waived.
  • Other Loans:
    If you are struggling to make your loan or other payment, please contact our Customer Care Center (1.888.725.2207) and we will connect you with a dedicated team member to assist you with the specifics of your situation.
  • Certificates of Deposits:
    We anticipate that some customers may want to make a one-time, early withdrawal or close their CD so they have access to these funds. Therefore, during the months of April and May, we will waive the early withdrawal or closure penalties on amounts $25,000 or less on Bank CDs.
  • Mobile Deposits:
    We have increased daily limits for making mobile deposits.

Business Banking Customers

  • Deposit Customers –
    • ATM Deposits – Our ATMS are now able to accept cash and check deposits using a Norway Savings Bank Business Debit Card
  • Commercial Loans and Lines of Credit:
    • Our Commercial Team is ready to work with our business clients to ensure they are provided the support they need. Please contact your Commercial Loan Officer if you need assistance.
      We also encourage businesses to visit the U.S. Small Business Administration (SBA) and Finance Authority of Maine (FAME) websites to learn more about their Coronavirus (COVID-19) loan programs. As authorized SBA and FAME lenders, we plan to fully participate in all of the programs these agencies create to assist businesses during this pandemic.
    • Norway Savings has the resources to help you find solutions to your cash flow needs. You should contact your Commercial Lender or our Customer Care Center (1.888.725.2207) and we will put you in touch with a dedicated team member to assist you with the specifics of your situation.

Guidance to all Norway Savings Bank Customers –

Please continue to be diligent and be aware for scammers and criminals who may use fear/intimidation, trickery, urgency or disinformation related to the coronavirus (COVID-19) to attempt to steal your sensitive, personal or account information. Norway Savings Bank will never request personal information through email/text/outbound calls.

We want you to know that every day we are working behind the scenes to ensure your needs are addressed. While we are offering limited branch access temporarily, you can reach us when you need us. Please stay safe and we will all get through this together.

Patricia Weigel
President & CEO