Last Updated: 7/9/2020
Thank you for being a valued customer. We are here to help you with getting access to the most up-to-date information and relief programs, such as the CARES Act, during these extraordinary times. Here's how we are supporting our customers, colleagues, and communities:
Branch Hours & Information
Extending our hours in some locations
Some branches have extended drive-up window and lobby hours. In some locations Appointment Service is no longer necessary.
Business Programs & Information
Paycheck Protection Program
The SBA has resumed accepting applications as of July 6, 2020. We're here to help while funds are available.
If your funds have been secured, you may be wondering what to know about loan forgiveness. Click here to learn about PPP loan forgiveness resources to help you prepare for forgiveness.
Consumer Programs & Information
We have several relief programs for customers as of March 24, 2020, including:
You can help us practice social distancing by using our services that are always on and available to you 24/7:
Eastern Mobile & Online Banking
Access your account from home using EasternBank.com or the Eastern Bank Mobile App to view transactions, check balances, make payments, transfer money and more.
Our ATMs
For accessing cash and making deposits. Visit our locations page to find an ATM near you.
What We're Doing To Help
Information, Additional Support & FAQs
Please be alert - scammers attempt to take advantage of events like this to perpetrate fraudulent activity. Therefore now more than ever, we encourage you to remain vigilant at this time to protect yourself.
Always obtain your information from credible sources and if you are unsure of the source, do not take any action.
COVID-19 scams to be aware of:
- Unsolicited emails or phone calls claiming to be from organizations such as Centers for Disease Control (CDC), World Health Organization (WHO) or others containing attachments or links. These may attempt to install malicious malware on your device or trick you into providing personal or financial information.
- A fraudulent version of a map published by Johns Hopkins University that shares the latest stats about COVID-19 is being used on malicious, illegitimate websites or emails to spread malware that attempts to steal users’ passwords.
- Online or phone call offers for vaccinations or offers to send vaccinations for payment of shipping and handling.
- Fraudulent requests for donations, gift cards or wire transfers.
- Callers claiming to be from the FDIC or other regulatory agencies requesting financial information.
- For business customers, callers claiming to be representatives of merchant providers stating that their current provider is closed due to COVID-19 and electronic payment providers need to be switched for processing to continue.
As a reminder, Eastern will not contact you via email asking for personal or financial information, and you should never share sensitive information with anyone via email or other electronic means; whether through the phone, mobile app, social media, etc.
Helpful links:
Eastern is providing $10 million in funding to help offset the impact of the coronavirus in the communities it serves.
- Consumer Impact Loan Fund will provide $2 million in lending to local individuals and families, and the Small Business Impact Loan Fund will provide $5 million in lending to small businesses.
- Additional services are also being provided to offer greater flexibility for deposit customers.
- In addition to these programs, Eastern continues to offer its full suite of financial services and advice to consumers and businesses.
- Also, Eastern Bank Charitable Foundation will target $3 million in financial support to area nonprofit partners focused on COVID-19 relief. COVID-19 relief grants will be provided to already-identified nonprofit partners and other community organizations to support their relief efforts related to the coronavirus to get the financial support where it is needed most as quickly as possible. This commitment is in addition to Eastern Bank Charitable Foundation’s already-planned $10 million in community support for 2020.
Additional Support For Our Customers
For Individuals and Families
- Increased ATM and debit card cash withdrawal limits. Through July 17, 2020. This may be extended.
- Increased mobile deposit limits. Through July 17, 2020. This may be extended.
- Waived penalties for early CD withdrawals of up to $50,000. Through July 17, 2020.
- Waived transfer fee for Automatic Balance Protection. Through July 17, 2020.
- Waived advance fee for Cash Reserve. Through July 17, 2020.
- Waived excessive transaction fee and waived transaction limit for savings and money market accounts. Savings and money market accounts are typically limited to six (6) transfers and/or withdrawals by preauthorized or automatic debit, telephone or computer transfers/withdrawals or checks. Through July 31, 2020. This may be extended.
- We have also paused foreclosures, evictions, and repossessions.
- Customer requests for refunds including overdraft fees, non-sufficient funds fees, and monthly maintenance fees will be reviewed upon request.
- Deferral of mortgage and other loan payments, reviewed upon request.
- Waiver of loan late charges, reviewed upon request.
For Businesses
- Increased ATM card withdrawal limits. Through July 17, 2020. This may be extended.
- Waived penalties for early CD withdrawals of up to $50,000. Through July 17, 2020.
- Waiver of loan late charges, reviewed upon request.
- Waived transfer fee for Automatic Balance Protection. Through July 17, 2020.
- Waived advance fee for Cash Reserve. Through July 17, 2020.
- Waived excessive transaction fee and waived transaction limit for savings and money market accounts. Savings and money market accounts are typically limited to six (6) transfers and/or withdrawals by preauthorized or automatic debit, telephone or computer transfers/withdrawals or checks. Through July 31, 2020. This may be extended.
- Client requests for refunds including overdraft fees, non-sufficient funds fees, and monthly maintenance fees will be reviewed upon request.
- Payment relief on commercial and small business loans, reviewed upon request.
- Eastern’s traditional and Small Business Administration (SBA) loan programs for additional financing to existing and new customers.
The information provided is intended for informational use only and is subject to change.
Q1: What is the Consumer Impact Loan Fund?
A $2 million loan fund for existing individual customers in need.
Q2: What does the Consumer Impact Loan Fund mean for applicants?
This means for those applicants impacted by the COVID-19 crisis, Eastern Bank offers a product that can help with day-to-day expenses, utility bills, groceries, etc. Call 1-800-EASTERN (327-8376) for application instructions.
Q3: What are the terms of the loan?
- Applicants can borrow between $500 and $5,000 depending on credit.
- The length of the loan is 27-months (0% for the first 3 months with no payments due, 3.99% for months 4 through 27). Payments will start in month 4.
- Applicants will need to provide the 2 most recent paystubs
- Must be a current Eastern Bank or EIG customer as of March 24, 2020.
- No additional discounts will be available for this loan.
- Applicants can only apply for one Consumer Impact Loan Fund loan.
Thank you for your interest in the Small Business Impact Loan Fund. This $5 million loan fund was announced by Eastern Bank on March 24, 2020, for its existing customers in need of working capital to help fund their operations. The fund is now fully subscribed.
We encourage you to consider other support available to our business customers:
- Increased ATM card withdrawal limits. Through July 17, 2020. This may be extended.
- Waived penalties for early CD withdrawals of up to $50,000. Through July 17, 2020.
- Payment deferral on commercial and small business loans, reviewed upon request.
- Waiver of loan late charges, reviewed upon request.
- Client requests for refunds including overdraft fees, non-sufficient funds fees, and monthly maintenance fees will be reviewed upon request.
Eastern’s traditional and Small Business Administration (SBA) loan programs are also available for additional financing to existing and new customers.
Helpful Resources
Visit the U.S. Small Business Administration Coronavirus (COVID-19): Small Business & Guidance Loan Resources