Tompkins Financial Corporation announced a program in response to the ongoing problems related to the COVID-19 outbreak that will likely have severe impacts on the local economy.
The local bank announced last week that they'd be providing assistance to eligible commercial clients, providing deferment for all commercial loans for up to 60 days. That comes after the bank also announced a slate of loan relief options for retail customers.
“We understand that companies, including our small business customers, are the backbone of the US economy and that they need our support during this critical time more than ever,” said Stephen Romaine, president and CEO. “As a community bank, it is our duty to assist businesses in the best way we can, which includes taking a market-leading position on loan deferment that we hope will inspire others to do the same during this time of unexpected hardship.”
According to the announcement, "loan customers who are experiencing challenges with loan repayment should contact their banker via phone or email immediately or reach out to Tompkins' Customer Care Center at 1 (888) 273-3210 to review options that may be available to them."