ROCKFORD — Illinois Bank & Trust recently announced the extension of relief and support programs for employees and consumers facing challenges due to the economic impacts of COVID-19.
The following consumer relief actions have been extended through May 31: monthly maintenance fees associated with consumer checking and savings accounts will be waived; late fees on consumer loans will be waived; certificate deposit early redemption fees will not be assessed; foreign ATM fees will be waived; and customers using other banks’ ATMs will not be assessed fees. Customers must contact the bank to redeem any CDs. Other banks and ATM operators may charge a fee. Balance inquiry, withdrawal and international fees may apply.
The following customer relief programs remain in place through July 1: no payment will be required on consumer credit cards; consumers may elect to defer all payments on consumer installment loans without penalty; and small business customers may choose to modify their loans and make interest-only payments
Employee relief support includes pandemic time off, premium pay for customer-facing retail employees and covering all COVID-19 testing and treatment costs for Wellmark health plan participants. The pandemic time off program has been extended through May 31, which pays all employees at 100%. Employees who need time off because of illness, to care for a sick family member or to provide child care due to school or daycare closings will be paid at their full rate.
For information: illinoisbank.com.