Berkshire Bank today announced a loan modification program and financial coaching service designed to help its current customers who are federal employees needing special assistance and options during the U.S. Government shutdown.
Beginning Jan. 16, qualified federal government employees may apply for a 1-3 month loan payment deferral. This temporary benefit is available to Berkshire Bank customers with a Berkshire Bank loan product, including mortgages, equity loans, equity lines, and consumer or auto loans.
"Berkshire Bank is committed to supporting our customers during all of life’s moments and we’re here to help," said Tami Gunsch, SEVP & Director of Relationship Banking of Berkshire Bank. "Therefore, we have initiated this loan modification program to help employees of federal government agencies reduce their financial stress. Our customers and communities are our highest priority and we will be with them for the duration of the government shutdown.”
To take advantage of this loan modification program offered by Berkshire Bank, impacted customers must provide their most recent payroll statement from the federal government. This loan payment deferral offer will end when the federal government reopens.
To inquire about a loan modification, Berkshire Bank customers are encouraged to contact Retail Loan Servicing at 800.773.5601, Ext. 138564 and then choose option 5 or email RetailLoanServicing@BerkshireBank.com to speak with a customer service representative to discuss options.
In addition to the loan modification program, Berkshire offers its customers and those affected by the shutdown access to financial coaching through its partnership with GreenPath Financial Wellness, a national non-profit organization that provides confidential financial counseling, education and debt management services, empowering people to lead financially healthy lives. Customers interested in the free financial coaching can visit www.greenpath.com/berkshire or call 866.692.2659.
Product is only available to employees of the federal government needing special assistance during the U.S. government shutdown. Loan approval is subject to credit approval and program guidelines.