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July 14, 2020 Leadership In A Time of Crisis

Bay State Savings Bank

Dear Friends,

While these times have been difficult to navigate, I am proud of the strides our community has made together to persevere through the impact of COVID-19.

I am grateful for our staff at Bay State Savings Bank for their efforts in remaining operational throughout the quiet of quarantine. While our branch lobbies have been closed since March, our offices have remained staffed, with employees working together at an appropriate social distance. We have continued to service our customers via drive-up and online channels.

Since the beginning of this pandemic, our mission has been twofold: to keep our community safe and informed. We have required that all employees wear face masks and frontline employees additionally wear gloves. Our custodial staff cleans our branches’ ATM machines, door knobs, elevator buttons, and service stations daily. We have kept our customers informed online via website, social media, and email updates on how to protect themselves against fraud and identity theft, which has seen a national uptick. Lastly, every dollar deposited at Bay State continues to be insured under the FDIC and Depositors Insurance Fund.

We will continue to support our city’s businesses enduring financial hardship. Since the beginning of the SBA Paycheck Protection Program relief, our Commercial Lending team processed more than 325 loans and provided over $28 Million in funds for business owners. If you are a business owner seeking financial support, I welcome your call. Please contact me directly at (508) 890-9014.

As summer begins and more local businesses move toward reopening, please take care as we readjust back into a new normal. As our collective resilience has brought us this far, I have no doubt Worcester will re-emerge a safer and stronger community. Be well!

Sincerely,
Peter Alden
President & CEO, Bay State Savings Bank

Bay State Savings Bank

baystatesavingsbank.com

508-890-9087