OLNEY, Md. (WUSA9)-- The Sandy Spring Bank will now offer support to all furloughed government employees, including men and women in the military, they announced on Friday.
Dan Schrider, CEO of Sandy Spring Bank says that a considerable amount of the bank's clients are being impacted by the government shutdown because of their close proximity to Washington.
"We understand the gravity of this situation and it is our goal to help all citizens, both existing clients and community members through this process. The furlough, no matter the length, could be felt by these government employees for some time to come and we want to ensure that our community knows we are here to support them," said Schrider.
Because this furlough has the ability to cause financial struggle, the bank is offering a series of options that will include:
- Personal lines of credit up to $7,500 at a special low rate for 60 days
- Payment extension options for consumer clients of Sandy Spring Bank on various loan products
- Penalty free CD withdrawals for clients who have CD's with Sandy Spring Bank - up to $7,500
- Financial counseling is available by visiting any Sandy Spring Bank branch where personal bankers will be available to help individuals and families react to the shutdown
Schreider added, "It is our hope that by offering these additional options, we can minimize the financial impact of the government shutdown. While we hope this issue is resolved in a timely manner, we will continue to assist our clients and our community until all government operations are back to running at full capacity."
Sandy Spring Bank has 49 offices in Anne Arundel, Carroll, Frederick, Howard, Montgomery and Prince George's counties in Md., and Arlington, Fairfax and Loudon Counties in Va. Visit www.sandyspringbank.com or call Client Services Center at 1.800.399.5919 for more information about Sandy Spring Bank.