Issue link: http://southshoremagazine.uberflip.com/i/1274225
South Shore Bank's response to COVID-19 was one demonstrating quickness, competence and caring in a time of understandable confusion and distress. Committed to its clients and employees' safety from the earliest days, South Shore Bank enacted immediate measures that would protect people's health while still giving them bank access and financial assistance. It also went above and beyond in a devoted and successful endeavor to help community members receive the benefits of the newly created federal economic CARES Act programs. "From day one, our first priority was the health of our employees and clients," says Carol Farrell, Senior Deposit Operations Manager. Drive-up banking and Face2Face ATMs remained in operation, but branches were open by appointment only, and plexiglass barriers were installed at all locations. Beyond these safety measures, South Shore Bank took proactive steps to safeguard their clients' financial well-being on all levels: local, state and federal. They removed the minimum debit card transaction requirement on their Rewards Checking Account, making it easier to qualify for a higher interest rate. "We understood clients would not be spending in the same way, so we removed that condition," Farrell says. "This ensured that they would still get the preferred rate of interest. People are doing the right thing adhering to stay-at- home orders and they should not lose the advantages they receive from their bank as a result. We also took action when the Federal Reserve Board gave us the option to stop enforcing regulations on money market and savings accounts. We removed tracking and associated fees for withdrawals and transfers because, at a time like this, people should have unlimited and unpenalized use of funds in those accounts." Another important aspect of responding to the changes caused by the coronavirus was communicating these accommodations to clients. Director of Retail Banking/Security Officer Julie Heapes says, "We were asking people to change their behaviors overnight. We needed our clients to know that our doors might be locked, but our bank is still open." South Shore Bank posted information on social media and their website, but understood that not all clients would see those. "We took the initiative to call nearly all of our clients on the telephone, and the feedback we received was phenomenal" says Heapes. "We weren't sure what to expect in response, and it was so heartwarming to hear clients say that they were thankful that we were taking measures to keep everyone safe." The bank has also offered payment deferrals to help people and businesses who have been impacted by this pandemic. It wasn't just the clients who had to adapt: South Shore Bank's employees also had to adjust to the new environment and run their branches in a way they never could have anticipated. Immediately, the bank put work-from-home practices into effect and issued each employee five extra personal days. In order to keep everyone informed and create continuity, a pandemic crisis team holds virtual 32 SOUTH SHORE BANK: Committed to Helping the Community The Children's Museum in Easton