M&T bank has been providing financial assistance and guidance to individual customers, businesses and communities for more than 100 years. It was founded in Buffalo, New York in 1856, and now serves thousands of customers in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and Washington, DC. They are a regional financial services company with more than $120 billion in assets. They provide a large diversity of services to their customers, including banking, insurance, investments, mortgage and commercial financial services.

Operating with a vision of success, commitment and support, they strive to “be the best company their employees ever work for, the best bank their customers ever do business with, and the best investment their shareholders ever make”. In context with this vision, and due to their strong involvement with the communities they serve, M&T bank has devised several coronavirus relief options for both individuals and businesses. First and foremost they have established an updated and extensive list of resources and information on their website, to keep customers and clients informed of the financial relief options available.

These relief options include the Economic Impact Payment program launched through the IRS, to help those in financial need. M&T Bank has been assisting its customers in applying for these payments, including following up on actual payments received through this program. For more information on how M&T can help you with this program, visit their Economic Impact Payments page, or contact them directly on 1-800-724-2440.

They also offer additional hardship assistance to all their customers in the from of:  refunds of insufficient funds (NSF) and/or overdraft fees through July 9, 2020. They will waive late fees charged or assessed through July 9, 2020 for Home Equity Lines of Credit, Unsecured Lines of Credit, Installment Loans, and/or Credit Card accounts.  They will also facilitate options to bring your accounts current or extend your due date. More specifically, for clients that have missed monthly mortgage installments, or are facing forbearance, they offer a mortgage and home equity repayment plan.

Client who are facing financial hardship are advised to contact M&T as soon as possible, to discuss their personal circumstances and apply for the right assistance program. Clients can do this through filling out an online application form, that will only take a couple of minutes to complete on their website. This will allow M&T to individually assess each clients circumstances, in order to better advise them on the appropriate relief option. A credit representative will then contact the client to discuss the options available to them. The final resolution will most likely result in a modification of the loan once the pandemic has passed. Such modifications typically include the extension of the loan term, which will result in an increase in the total interest paid for the loan. It is for this reason, that M&T encourages clients to continue to make monthly mortgage payments, if they have the means to do so.

More information can be found on the M&T website, or though contacting their call center at 1-800-724-2440. Customers are also advised to please check branch opening and closing times ahead of time, as these may be altered to ensure the safety of M&T employees and customers.