As summer slowly transitions to fall Dean Bank offers its appreciation and gratitude to our employees….our customers… and the community at-large for their dedication, their perseverance and their loyalty throughout the COVID-19 pandemic thus far. “THANK YOU!”
Over the past five months or so, Dean Bank has transformed the way it serves its retail banking, mortgage, small business and commercial customers. We hope you found these necessary changes satisfied your basic banking needs during this difficult period. Our customers continue to embrace our mobile and online technology; to deposit checks, pay bills, open new deposit accounts and apply for consumer loans (like auto loans) and mortgages (both first mortgages and home equity loans/lines). Services like e-Statements, Mobile Banking and Mobile check deposit are at all-time highs in terms of the number of users and activity. Our drive-up has been a steady alternative to in-branch banking as well, though all offices are open to customers for any reason you may need to conduct business in-person.
We continue to move forward in the full reopening / return to business process. Our Management Team still meets regularly to maintain a workplace where our employees remain safe and healthy, while still providing the level of personalized service you have come to expect as a Dean Bank customer.
We remain committed to following the Commonwealth’s mandates and guidelines but are equally committed to maintaining our own; ones that customers and employees alike have found reassuring. For the foreseeable future, employees and customers are still required to wear a mask or other face covering at all times while in our branches and are expected to use hand sanitizer (available via dispensers located within each location) upon entering any Dean Bank office or branch. Though not encouraged, face-to-face meetings can be conducted safely when necessary or preferred. Contact the employee you plan to meet with for additional instructions/details.
For some good news… mortgage rates and auto loan rates remain near historic lows! If you have not yet refinanced, please consider doing so with Dean Bank. Furthermore, it is still a great time to purchase a home. You may apply in minutes for either scenario at deanbank.com. Simply click “check rates” next to the “I want to” phrase on our Home Page.
I wish you and your family health and safety as thoughts turn to the final few months of 2020. I look forward to seeing you in person in the days ahead and I speak for our staff when I say “THANK YOU!” for trusting us with your business.
Kevin R. Goffe
President & CEO
A message from Dean Bank President & CEO Kevin R. Goffe
I have a number of words to describe 2020 so far; surreal, challenging, difficult, dangerous….but at the same time, inspiring, cooperative, uplifting and hopeful.
For the past eight weeks or so, Dean Bank has fundamentally transformed the way it serves its retail banking, mortgage, small business and commercial customers. Every element of service “before” has been transformed in ways we never conceived of just 90 days ago. Most of our workforce has been working remotely quite effectively while our branch, mortgage and commercial departments have been on-site processing and closing loans in historic numbers.
We are in the beginning stages of the reopening process. Our Management Team is meeting regularly to design a workplace where our employees will remain safe and healthy, while still providing the level of personalized service you have come to expect as a Dean Bank customer.
I must be frank with you; it is going to look and feel different. We are committed to following the Commonwealth’s mandates and guidelines but are equally committed to creating our own; ones that customers and employees alike will find reassuring. I will be sending out specifics in a separate communication very soon but will share one major component with you now. For the foreseeable future, customers will be required to wear a mask or other face covering at all times while in our branches and will be expected to use hand sanitizer (available via dispensers located within each location) upon entering and exiting any Dean Bank office or branch.
With Memorial Day around the corner, we anticipate offering more face-to-face service shortly thereafter. With warmer weather coming, we hope that the severity of this virus wanes and that society can get on with the business of doing business locally. We look forward to that moment.
For some good news, look at mortgage rates! They remain at historic lows. If you have not yet refinanced, consider doing so with Dean Bank. Now is also a great time to consider purchase a home. You may apply in minutes for either scenario at deanbank.com. Simply click “check rates” next to the “I want to” phrase on our Home Page.
Another positive development has been the adoption of our electronic banking services such as Mobile Banking, Mobile Check Deposit and Online Deposit Account Opening. We are proud that our services are available for your use during this extended stay-at-home environment. Visit deanbank.com and open a CD, checking account or savings product right from the comfort of your home or office. It can also be found as a Tab in Online Banking. If you need assistance making a mobile deposit, we created a video tutorial found on our web site.
I wish you and your family health and safety. I look forward to seeing you in person in the days ahead and I speak for our staff when I say “THANK YOU!” for trusting us with your business.
PRESIDENT"S MESSAGE REGARDING COVID-19 CAN STILL BE FOUND HERE:
Amid ongoing concerns about the Coronavirus (COVID-19), we want to assure you that Dean Bank is closely monitoring the latest from the Center for Disease Control (CDC) as well as other state and federal agencies. We are taking all necessary measures for the health and safety of our customers, colleagues and the communities we serve. Below is an updated summary of steps taken to ensure customer and employee safety while the bank is open for business.
- NEW: Dean Bank remains steadfast in its support of our customers, our employees and our community! We've seen tremendous things in the midst of the COVID-19 pandemic. We've seen our community rally together to support those in need. We've seen our community hospital face this crisis head on, small businesses that made and donated hundreds of meals, individuals creating masks for their co-workers after they'd completed a full day's work, local businesses remaining open to serve despite the health risks that posed...the list goes on and on. On behalf of each of our employees we say THANK YOU!
- As of April 27th, financial institutions, including Dean Bank, have been instructed to temporarily suspend collection of Regulation D fees, which occur when a customer makes more than 6 withdrawals from a Savings account during a calendar month. The federal government understands a customer's need for cash to cover expenses may increase from a "non-transaction" account like a savings or money market account and wants consumers to know they can do so without penalty at this time.
- The SBA announced additional debt relief efforts for small businesses. For more information, please click here or contact any of our Commercial Lending staff and they'll be happy to have a conversation with you.
- The SBA issued new guidelines regarding the PPP. The press release can be found here. It's imperative that Congress approved additional funding for the program as funds have completely run out from the first round.
- As of Thursday, April 16, Dean Bank's Mendon Branch will close at 4:00 pm on Thursdays and Fridays until our area returns to full business activities. We apologize if this temporary change creates any hardship. Please remember our other three branches will operate with normal business hours.
- As of March 31st the SBA sent out new guidelines for faster assistance to small businesses. They stated that EIDL applicants that already submitted in the previous system received an email instructing those that wish to request a FORGIVABLE advance of up to $10K to submit a new application on the new portal. If you are submitting a new application, please follow the new streamlined steps in the portal (https://covid19relief.sba.gov/#/) as the questions are mostly the same from all the required documents in the previous version of the portal. All small businesses and nonprofits are encouraged to apply for EIDL and request an Economic Injury Disaster Loan advance of up to $10,000. The loan advance will not have to be repaid. If you already submitted an application and want to check on status, please call customer service at 1-800-659-2955 or e-mail disastercustomerservice at sba dot gov
- As of March 17, 2020, Dean Bank branches will remain open for business; however, service will occur via the drive up lanes, night deposit and ATM’s only in our Franklin, Bellingham and Blackstone locations. We hope customers will understand that this is a temporary situation and we apologize in advance if service time is longer than normal. Customers who require in-person service for services such as access to their safe deposit boxes should call their local branch (branch telephone numbers can be found here) and a member of our customer service staff will make an appointment for your transaction to be completed. Coin counting is temporarily suspended in all branches. Our Mendon Branch will restrict service to via the night drop & ATM only. More information will be communicated should conditions warrant it.
- Business customers may call ahead for coin orders and the bank will make every effort to fill that order for you as quickly as possible. A member of our branch staff will contact you with pick up details.
- We have created a special e-mailbox, outreach at deanbank dot com, for customers who may be struggling financially as a direct result of the virus to share their specific concerns related to business or personal accounts with the bank. Please do NOT share specific account number or balance information via email but do include the best method for us to contact you (phone or email).
- If you are concerned with going out in public, you can conduct most transactions via Online Account Opening, Telephone Banking, Online Banking or Mobile Banking (including Mobile Check Deposit). If you do not already have our app you can download it via the App or Google Play Store. Our staff is prepared to answer questions about these services (in person or by telephone or email) and in many cases provide instruction to you, should you have a question about how to use our e-Services. Additionally, our website (www.deanbank.com) provides a host of valuable resources such as ATM locations and Branch Hours.
- Business customers that may be experiencing temporary cash flow issues may contact the SBA. To explore options including loan payment deferments of up to 6 months visit www.sba.gov to begin the process or speak with a member of our Commercial Lending staff.
- Finally, if you would like to speak with a member of our staff please call us at 508.528.0088 during regular business hours.
We will continue to closely monitor the situation and communicate any additional measures necessary to support you and the communities we serve as needs arise.
Kevin R. Goffe
President & CEO
Dean Bank obtains 95% of its funding locally and reinvests that money in local housing, businesses and through other consumer financing needs. Despite our small size in the financial services marketplace, Dean Bank has provided over $1 billion in residential housing finance over the past 15 years. Thank you for ranking us the #1 Community Bank in each of the markets we serve by voters in the CNC Reader's Choice for 12 years in a row!