Fidelity Bank Issues 90-Day Payment Deferral for All Loan Clients in Response to COVID-19 Emergency Crisis
By: Tammy O'Shea
(New Orleans) – Fidelity Bank, one of Louisiana’s most established banks, has announced a 90-day payment deferment for many loan clients effective March 20, 2020. Bank President and CEO Chris Ferris made the announcement today as the bank’s way of easing customers’ financial burdens during the COVID-19 crisis. Additionally, Fidelity will waive late payment fees, waive early withdrawal penalties on certificates of deposits and pause negative credit reporting through June 2020.
To request a loan deferral, Fidelity Bank clients must fill out a short form available on the bank’s website at HERE. Once the form is submitted it will be reviewed for approval. Investor-owned mortgage loans are excluded at this time.
Fidelity Bank recently marked its 111th year in business in the New Orleans region and remains one of the most capitalized banks in the area. Ferris added that beginning Saturday, March 21, bank branch lobby hours will be suspended until further notice. Fidelity Bank customers will still have full access the bank’s drive-thru facilities during normal business hours and to the bank’s ATMs and Integrated Teller machines for routine transactions. Lobbies will be available by appointment only.
“COVID-19 has brought a lot of uncertainty to our world right now so we felt it was appropriate to ease Fidelity Bank customers by placing a 90-day payment deferment on all loans, waiving late fees for customers and pausing negative credit reporting,” Ferris said. “With these steps in place, we hope to ease some of the worries our customers face during this ongoing crisis.”
In addition to the internal bank initiatives, in a commitment to support New Orleans hospitality workers, Fidelity Bank also announced a $25,000 donation to the United Way of Southeast Louisiana Hospitality Cares program, in collaboration with community partner, Louisiana Hospitality Foundation. Fidelity Bank is also doubling its annual donations to 58 non-profit Community Partners.
About Fidelity Bank
Founded in 1908, Fidelity Bank is an $800 million in assets mutual financial institution chartered by the state of Louisiana. Fidelity Bank provides a full array of banking services, with high integrity and personalized service to communities throughout Southeast Louisiana. Fidelity Bank’s mission is HERE FOR GOOD. Visit Fidelity Bank or www.fidelitybank.com.