We are actively monitoring the public health situation related to COVID-19 to ensure that we are well informed and ready to serve you during this difficult time. We continue to put the safety and well-being of our customers and employees first.
All branches are operating via drive-up and ATM only with branch lobbies accessible by appointment. Please note our Trumbull branch does not have a drive-up.
Services including account opening and maintenance, safe deposit box visits, notary services, wire services, lending and Newtown Investment Solutions*, will continue to be available by appointment only. Please contact our Customer Service Center at 800.461.0672 or email@example.com to make an appointment.
Guidelines for visiting our branch lobbies by appointment:
We encourage you to continue to use our drive-up windows, ATMs and other banking options available to you including Online Banking, Mobile Banking, and Telephone Banking services
In March 2020, the Federal Government created a stimulus plan to provide assistance to individuals struggling as a result of the coronavirus pandemic. The Federal Government approved a second round of economic stimulus payments in December 2020 and is expected to send additional funds to approximately 140 million eligible Americans over the first three weeks in January 2021. For more information, please visit the IRS site "Get my payment."
Individuals who received tax refunds via direct deposit for their 2019 tax returns will receive an electronic Economic Impact Payment directly to their account. Individuals who have not provided their bank account information to the IRS will receive their economic impact payment either via a pre-paid card or in the form of a check which may be deposited into your account using our Mobile App or at one our ATMs or branch drive-up windows.
What happens if I have a negative balance when a federal government stimulus payment is deposited into my account?
Economic Impact Payments are being issued to ensure recipients have the means to provide for basic necessities such as food, medicine and housing, during the current public health emergency. Newtown Savings Bank is committed to ensuring these payments are made fully available to our customers to use as intended.
If your Newtown Savings Bank checking or savings account has a negative end-of-day balance on the business day prior to the effective date of your stimulus payment deposit*, a temporary credit** will automatically be made to your account within a few days of the stimulus payment deposit to provide you with the ability to access and use the full amount of your Economic Impact Payment funds. If a temporary credit is applied to your account, you will receive a notification by mail with additional details.
* “Stimulus payment deposits” include an electronic credit of Economic Impact Payment funds made to your account by the IRS or the receipt of a check issued by the IRS that you deposit to your account at the Bank.
** Temporary credits will be provided as described above for stimulus payment deposits made by March 31, 2021 and will not exceed the amount of your stimulus payment.
A Message from the IRS: The IRS urges taxpayers to be on the lookout for scam artists trying to use the Economic Impact Payments as cover for schemes to steal personal information and money. Remember, the IRS will not call, text you, email you or contact you on social media asking for personal or bank account information – even related to the economic impact payments. Also, watch out for emails with attachments or links claiming to have special information about economic impact payments or refunds.
Paycheck Protection Program (PPP) Loans/Forgiveness
The Small Business Administration has issued its initial set of Interim Final Rules providing guidance for Round Three of the Paycheck Protection Program (PPP) allowing eligible small businesses to obtain an additional PPP loan.
We are accepting PPP loan applications for first and second draw loans for businesses in Connecticut.
Please visit our PPP page for important information including eligibility criteria and documentation requirements.
Newtown Savings Bank remains committed to the small businesses in our community and we are ready to help you through this new round of PPP loans.
If you would like to apply for PPP loan forgiveness or if you have questions about your current PPP loan forgiveness application, please contact us at PPPQuestions@nsbonline.com
The Federal Reserve Board recently announced an interim final rule amending Regulation D (Reserve Requirements of Depository Institutions) to remove the six-per-month limit on withdrawals or transfers from a savings deposit account to another account or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party. The interim final rule allows depository institutions to suspend enforcement of the six transfer limit and to permit their customers to make an unlimited number of convenient transfers and withdrawals from their savings deposits at a time when financial events associated with the coronavirus pandemic have made such access more urgent.
As a result of these regulatory changes, Newtown Savings Bank has elected to immediately suspend the pre-existing limit on these types of withdrawals and transfers. This temporary revocation of the limit is effective immediately and will remain in place until further notice. During this time period, you may make unlimited transfers and withdrawals from your savings and money market accounts without incurring excess debit fees.
We recognize the many challenges COVID-19 is creating for our customers and communities and we are here to help.
Our team of financial advisors are available and ready to help with any questions you may have on your investment accounts. Please call 203.426.4440 ext. 3148 and we will be happy to assist you.
*Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA / SIPC) . Newtown Investment Solutions is a trade name of the bank. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.
In times like these, online scams and other fraudulent activities may be on the rise. Cyber criminals attempt to take advantage of fears surrounding the Coronavirus by setting up websites to sell bogus products, and using fake emails, texts, and social media posts to try to obtain your personal information and take your money. Check out the Federal Trade Commission’s article about Coronavirus Scammers or learn more about protecting yourself from fraud on our Security and Privacy page.
Since 1855, our commitment to our customers and our community has been unwavering through good times and bad, and we will continue to be here to support you during these uncertain times. We wish you safety and good health!