April 22, 2020
Yesterday, the Senate passed legislation that includes an additional $310 billion to restart the Paycheck Protection Program which was depleted on April 16, 2020. The good news is that a minimum of $60 billion was set aside for community banks. We are waiting for the final vote by the House tomorrow.
We continue to process applications in the event that additional funding is approved by Congress. We are uncertain at this time if any new modifications will be required, so we will keep you informed as we learn the facts.
For existing customers only:
Please understand that there are no guarantees when it comes to processing time, approval, and/or funding.
You will be asked to submit an application and a complete list of supporting documents through a secure portal. Instructions for the secure portal will come in a separate email.
Applications that are incomplete or are missing any information or required documentation will not be processed.
We are here to help you get through this unprecedented and challenging time. Thank you for your patience and understanding as we work through this difficult process.
March 26, 2020
To Our Valued Customers:
Phoenixville Federal continues to monitor the Coronavirus pandemic and is taking the necessary health and safety precautions for our customers and staff. Meeting the financial needs of our customers is our highest priority, and we realize that many of you are facing challenges in the midst of this crisis. We are here for our community.
Ready to Assist
We stand ready to offer assistance, where warranted, and are reviewing all programs and policies to meet each individual’s or business’s circumstances. If you are experiencing a hardship as a direct result of the COVID-19 pandemic, please call 610-933-1000 to discuss specific options that may be available to you. To streamline this process, you may be asked to provide a copy of your unemployment application or a letter from your employer stating that you have been laid off due to the pandemic.
Due to PA Gov. Wolf’s orders, many of you are staying at home. If you have not already done so, we want to encourage you to sign up for the bank’s online services to reduce the need to leave home. Our branch representatives are happy to answer your questions if online banking is unfamiliar to you.
We are all in this together and hope that you are staying safe and well during this difficult time. Thank you for the trust you have placed in Your Community’s Bank.
March 17, 2020
To the Communities We Serve:
Your Community’s Bank.TM
At Phoenixville Federal Bank & Trust, that is more than just a marketing tagline. It defines who we are and the connection we have to our customers and to our community. We are a part of this community and are keenly aware of your needs, especially during the current COVID-19 Pandemic.
While our communities, and indeed the world, are experiencing turbulent times, we want to assure you that we are committed to providing the very best service and financial access that you have come to expect from Phoenixville Federal for more than 100 years, with minimal disruption.
We are strong and stable.
As a mutual bank, unlike stock-holder institutions, we have the significant advantage of liquidity and strong core deposits. We are designed to weather a financial crisis in that we have sufficient excess capital to endure the unpredictable financial markets we are currently experiencing. It is this strength and dependability that has earned us a 5-Star Superior rating from the independent financial analyst, BauerFinancial.
Phoenixville Federal Bank & Trust considers the health, safety, and service of our customers and staff as a top priority, and in order to share how we are taking precautions to ensure your financial needs continue to be met, please read these important notices to our customers.
March 15, 2020
To Our Valued Customers:
As you may know, in response to the rapid spread of COVID-19, Pennsylvania Governor Tom Wolf has ordered the closure of all non-essential public spaces in Chester and Montgomery counties. As a community bank located in both of those counties, we are taking proactive steps to protect the health and well-being of our employees and our customers.
Beginning March 16, 2020, customers may access financial services through the drive-thru windows during regular bank hours. All branch lobbies and administrative offices are open with limited public access by appointment only. Please call your branch location to arrange for safe deposit access or other transactions requiring face-to-face interaction. As always, our Online Banking & Bill Pay, Mobile Banking, ATMs and Telephone Banking are open 24/7. This policy will remain in effect until Saturday, March 28, 2020, and will be re-evaluated at that time.
We sincerely apologize for the inconvenience this may cause. Thank you for your patience and understanding while we work to ensure our community is safe. Together, we will get through this health crisis.
March 15, 2020
Precautions for Financial Access: Coronavirus (COVID-19)
Phoenixville Federal Bank & Trust considers the health, safety, and service of our customers and staff as a top priority, and we want to share how we are taking precautions to ensure your financial needs continue to be met.
What Phoenixville Federal Bank & Trust is Doing:
What You Can Do:
As always, please contact us at 610-933-1000 if you have any questions. In the event that our locations have alternate accessibility or hours, please visit our website for more information.