Century Bank Supporting Those Affected by COVID-19

MEDFORD, Mass.--(BUSINESS WIRE)--Century Bank, an Essential Business, announces its commitment to the health and safety of its customers, colleagues and community. “The coronavirus (COVID-19) has unexpectedly turned the economy upside down and we want to help alleviate financial hardship to those impacted,” said Barry R. Sloane, Chairman, President and CEO of Century Bank. “During this difficult time, it is of the upmost importance to maintain open communication with our customers and colleagues as we adjust to the new normal.”

Century Bank has made adjustments to offer assistance in response to COVID-19:

For its Customers

• Qualified customers can obtain a modified loan payment for up to three months
• No homeowner with a Century Bank mortgage will face foreclosure for at least the next six months
• Increased debit card limit
• Increased ATM cash withdrawal limit
• Overdraft fees waived when appropriate
• CD early withdrawal penalties waived for clients significantly impacted by the pandemic
• Increased mobile deposit limits

For its Communities

“Century Bank continues to provide financial and leadership contributions to community organizations directly engaged in the treatment, support and recovery from the pandemic,” said Linda Sloane Kay, Vice Chair of Century Bank.

For its Colleagues

Century Bank has reduced face-to-face meetings, where possible, and closed branch lobbies to prevent the virus spread. The Bank continues to provide uninterrupted ATM, online banking and full-service drive-up window facilities. All other financial operations remain unaffected.

Century Bank has taken necessary steps to keep its employees safe so that they can continue to deliver exceptional service for its customers. Steps taken include, but are not limited to:

• Increasing employee education regarding appropriate hygiene and disinfecting areas, following the CDC guidelines
• Monitoring potential outbreaks within the communities it serves
• Practicing social distancing in the workplace to avoid exposure
• Limiting meetings to phone calls and teleconference as much as possible
• Allowing employees to work-from-home whenever possible
• Providing gloves and face masks for associates operating the drive-up windows and other areas as necessary

The Bank will continue to monitor the COVID-19 situation to determine if additional steps are needed to support the local community, its colleagues and its clients. Updates and resource information are available on its website, CenturyBank.com.

About Century Bank

Century Bank operates 27 full-service branches in 19 cities and towns throughout Massachusetts. Founded in Somerville in 1969 by Marshall M. Sloane, Century Bank is New England's largest family-run bank. The Sloane family has continued to grow Century into a bank that families rely on - a place where you can count on getting both personal attention, and sophisticated financial solutions. Century Bank, headquartered in Medford, Massachusetts, employs over 400 associates and has $5.5 billion in assets.

Century Bank is a member of the FDIC and an Equal Housing Lender.