We know you rely on us every day for your financial needs, and we will continue to be here for you through this challenging time. As developments continue in the Coronavirus outbreak, we want to make sure you have the information you need.
We’re Here to Help.
As your trusted community partner and neighbor, we understand that unforeseen events such as the Coronavirus outbreak can have a significant impact on your life and business. We want to remind you that we're here—in your corner—to talk about financial solutions. Every situation is unique, so please reach out to yourlocal banker today to discuss assistance that may be available to you:
Credit Cards: Call us at 866-656-4555 to discuss your options, including rescheduling payments, waiving interest charges, or waiving late payment charges.
Consumer and Business Loans: We recognize it may be difficult to make loan payments during this time. Speak with your local banker to discuss payment deferrals or interest-only payments for up to 90 days on consumer and commercial loans. New or extended lines of credit may also be available to you.
Home Loans: If your income has been impacted by the Coronavirus outbreak, we may be able to offer a 90-day forbearance plan allowing for a reduced mortgage payment or no mortgage payment at all during the plan’s term. And there is no foreclosure during the forbearance plan term.
Small Business Assistance
First Interstate is committed to helping small businesses through the Coronavirus pandemic. There are several assistance options available.
Paycheck Protection Program (PPP): A provision of the CARES Act, the Paycheck Protection Program (PPP) provides loans to small businesses impacted by Coronavirus to help cover payroll costs and other expenses (including rent, utilities, and mortgage interest). The loan is backed by the Small Business Administration (SBA).
We will accept PPP loan applications through Wednesday, August 5, 2020.
If you received a PPP loan, the next step is requesting forgiveness of your loan. We will email borrowers with next steps when it’s time to apply for forgiveness.
Learn more about the forgiveness application process, what expenses are eligible for forgiveness, and how to document your loan forgiveness request.
SBA Disaster Relief: The SBA also offers low-interest loans through its Economic Injury Disaster Loans (EIDL) program. The program provides up to $2 million in assistance to cover fixed debts, payroll, accounts payable, and other costs. These loans are administered directly through the SBA Office of Disaster Assistance. To apply, click here.
The CARES Act also allows for an advance of up to $10,000 on an EIDL. The advance will be forgiven and may be available even if your loan application was declined or is still pending. To apply for an advance on an EIDL, visit www.sba.gov/disaster. Even if you already applied for an EIDL, you will need to fill out a new application for the advance.
Assistance for Montana businesses: The state of Montana has created two programs to help small businesses impacted by COVID-19. For more information or to apply, please contact your local banker.
The Montana Working Capital program allows Montana businesses to take out a new loan to be used for payroll, employee benefits, lease or rent, inventory, utilities, and insurance. Thirty-five percent of the loan is covered by a grant using Coronavirus relief funds; the borrower is responsible to make payments on the remaining 65 percent of the loan. The maximum loan size is $500,000 with a grant of $175,000.
The Montana Hospitality Assistance and Capital Assistance Program is designed to aid large hotels and businesses with commercial loans that exceed the monetary limitations of the Montana Loan Deferment Program. CARES Act funding will be used to pay 80% of the interest on deferred loan payments for up to 12 months.
Visiting the Bank
For the health and safety of our clients and employees, we ask that visitors who enter a branch or Bank facility wear a face covering and practice social distancing. We have also installed plexiglass at teller lines and banker desks to help protect you, and hand sanitizer is available throughout the Bank.
We are monitoring state resumption phases, CDC forecasting information, and confirmed case trending at the state level to make risk-based decisions regarding First Interstate’s business resumption plans. Currently, the following locations are temporarily closed to the public:
Seattle Loan Production Office
Vancouver Loan Production Office
Billings Operations Center
Boise W. Myrtle
Drive-up lanes in all markets are open during regular business hours. Bankers are available to meet individually with clients as needed;call your local branch if you’d like to speak with a banker. Bankers may also grant access to your safe deposit box as needed. Please contact your branch to arrange.
Bank Anytime, Anywhere.
If you haven’t enrolled inOnline Banking or downloaded ourMobile Banking app, now is a great time to do so. You can access your accounts online 24/7, with features such as online bill pay and mobile check deposit.
For telebanking options, call 888-752-3341.
If you have any questions or need assistance, our Client Contact Center is ready to help at 855-342-3400.
Our Team Members
Our employees are our most valuable resource, and we understand that responding to this outbreak requires flexibility. Many of our employees are working remotely, and we are practicing social distancing.
If employees are unable to work because of illness, school closures, or other impacts stemming from the Coronavirus outbreak, we will work with them to ensure they have the paid time off they need to take care of themselves and their families.
In addition, we have implemented the following safety precautions:
Suspended all business travel for employees and our partners.
Discouraged personal travel and strongly recommend employees reassess their travel plans, especially when traveling to high-risk areas and/or internationally.
Canceled or postponed Bank events involving large groups of people, including delaying our annual Teach Children to Save financial education program and Piggy Bank Contest.
Cybercriminals are taking advantage of fears over the Coronavirus outbreak, using phishing emails, fake websites, and false promises of vaccines and cures to try to gain access to personal information.
To avoid falling victim to these or any scams, remember these tips:
As more cases of Coronavirus, or COVID-19, surface in the United States, health experts recommend focusing on prevention and planning to minimize its impact. Follow these tips to help stop the spread of germs.
Wash your hands frequently with soap and water for at least 20 seconds, especially after going to the bathroom, before eating, and after blowing your nose, coughing, or sneezing.
Use your inner elbow to cover your mouth when coughing or sneezing.
Avoid touching your face.
Clean and disinfect clean surfaces that are touched often, such as door handles, light switches, chair rails, desks, phones, and keyboards.