Washington State Department of Financial Institutions

Financial Resources for Washington Residents Impacted by COVID-19

(En español)

The Washington State Department of Financial Institutions has developed a list of financial resources for Washington consumers impacted by the Coronavirus. We will add to this list as more resources become available.

Last Updated: March 20, 2020

Announcements

Financial Institutions Remain Open

While the COVID-19 outbreak has closed many businesses, your local banks and credit unions remain committed to providing access to banking services.

Social Distancing GraphicAs social distancing has been implemented across our state, here are some things to consider:

  • You can likely meet most, if not all, of your banking obligations without leaving your home as online, mobile and phone banking services are available. Many services are likely available 24/7 on your financial institution’s website or mobile app including: balance inquiries, transfers, loan payments, mobile check deposits, and transaction inquiries.
  • While many financial institutions have restricted access to their lobbies, you can access Drive-Thru teller services, Interactive Teller Machines (ITMs) or Automated Teller Machines (ATMs).
  • For branch services that require access to the banking facility, like safety deposit box retrieval, many financial institutions are providing these services on an appointment basis.
  • Before you head to your financial institution, visit their website or call to find information about hours, customer/member assistance, and current operations. You’ll also see other precautions your financial institution is taking to keep you and their employees as safe as possible.
  • Please keep in mind, there is no need to take out large amounts of cash to add to your existing emergency funds. Washington’s financial institutions have access to ample amounts of cash to accommodate residents’ continued daily needs.

Deposits Are Safe In Federally Insured Banks and Credit Unions

Federally insured banks and credit unions offer a safe place for members to save money. All deposits at federally insured banks and credit unions are up to at least $250,000 per individual depositor. For more information visit www.fdic.gov for federally insured banks, or www.ncua.gov for federally insured credit unions.

Unemployment Assistance

If you are out of work, Washington State’s Employment Security Department provides support services to individuals affected by COVID-19 in Washington.

The Employment Security Department has adopted a series of emergency rules to relieve the burden of temporary layoffs, isolation and quarantine for workers and businesses.

Trouble Paying Credit Cards

If you have seen a reduction in pay due to COVID-19 and are struggling to make your credit card or loan payments, contact your lender right away. Explain your situation and ask about hardship programs that may be available. Regulatory agencies have encouraged financial institutions to work with customers impacted by the coronavirus.

Credit card companies and lenders may be able to offer you a number of options to help you. This could include waiving certain fees like ATM, overpayments, and late fees, as well as allowing you to delay, adjust, or skip some payments.

Additional Resources:

Trouble Paying Your Mortgage

If you do not have enough money in savings to cover your mortgage payment or rent, contact your lender or landlord immediately.

Don’t wait until you’re behind on payments. Lenders may work with you to waive late fees, set up a repayment plan or offer loan forbearance.

You can also contact the Washington Homeownership Hotline at 1.877.894.HOME for more information and assistance.

Additional Resources:

Trouble Paying Rent

If you are unable to make your full rent payment, contact your landlord immediately and try to work out an agreement. The Department of Housing and Urban Development offers counseling from organizations that can help help you make the right decisions and point you towards the right resources.

On 03/18/2020, Governor Jay Inslee enacted a statewide moratorium on evictions of residential tenants for 30 days.

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