Busey Announces Financial Relief Program
For more than 150 years, Busey has delivered on a promise of trusted customer relationships and community support. We recognize COVID-19 is not only impacting our health and safety, it is causing significant economic disruption that may have short- and long-term implications for both individuals and businesses—making our promise of support even more important during this time.
We have a storied history of helping our customers and communities in times of need and now is no different. Beginning March 27, 2020, Busey is offering a Financial Relief Program—designed to alleviate some of the hardships you may face as a result of the pandemic itself or the resulting economic impacts.
For Consumers and Retail Customers
For the next six months, Busey is automatically offering:
- Waiver of pre-authorized transfer fees to prevent overdrafts.1
- Waiver of charge for each pre-authorized transfer over six per monthly statement cycle on consumer/personal savings and money market accounts.2
- Free debit card replacement and express delivery of cards to customers.2
1 The payment of overdrafts is discretionary.
2 All other account terms remain unchanged.
Please contact your local branch to discuss details; associates are on-hand to provide support. Busey’s Customer Care team is also available Monday – Friday from 7:30 a.m. to 6 p.m. CT and on Saturday from 8 a.m. to 2 p.m. CT. Please dial 800.672.8739 and choose option 2.
For customers with an ELAN credit card issued by Busey, please contact ELAN CardMember Services at 866-234-4691 for assistance. ELAN will handle customer situations on case-by-case basis.
For Personal Loan and Mortgage Customers
For those experiencing or anticipating hardships due to COVID-19, Busey is offering multiple payment deferral options for qualifying customers with loans—personal, auto, home equity, mortgages and more. There will be no credit bureau impact with granted deferrals.
Various options will be available to qualifying Busey mortgage customers including payment relief for up to 12 months and waiver of late fees. In addition—to help keep people in their homes—Busey will halt foreclosure sales and evictions of borrowers until at least May 17, 2020.
To request mortgage and personal loan relief, please complete this online form. A dedicated hotline is also available to help mortgage and personal loan customers—please call 888.483.6669. Beginning Friday, March 27, associates will be available from 8 a.m. to 6 p.m. CT, Monday – Friday.
For Commercial Clients and Small Businesses
We are offering several options to Busey’s qualifying business customers to help them through this period of economic disruption. Various six-month modification programs with opt-ins from the customer in 90-day intervals are available, including 90-day interest only and 90-day deferral of term loan payments.
For immediate assistance, please contact your Relationship Manager to discuss how we can best serve you.
SBA program options will also be offered as they become available. On Tuesday, March 31 at 2 p.m. CT, Busey is hosting a complimentary webinar for customers and SBA clients to share resources available for relief. Busey’s commercial banking experts will answer questions and help business owners successfully navigate the Emergency Injury Disaster Loan process. For additional details and to register, click here.
With increased cases of coronavirus-related fraud and phishing attacks, Busey is committed to providing the support you need. To protect your accounts and personal information, we are implementing a three-day minimum to process external account transfers. Effective March 27, 2020, funds transferred to and/or from external accounts will not be available for at least three business days to minimize the chance of fraud.
As we continue to maintain physical distancing protocols, you are encouraged to manage accounts from the comfort of your home using Busey eBank and mobile banking—allowing you to safely view balances and transactions, transfer funds, make bill payments, deposit checks and more.
At Busey, we understand the pressures individuals and businesses are facing and want to offer assistance during these challenging times. Just as we’ve always been, Busey is here for you through the uncertainties ahead.