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Customer Support Related to COVID-19

Updated June 24, 2020

We hope you always know how much Dedham Savings cares about our employees and our customers. Our concern includes wanting you to be in good health. As we welcome customers back into our lobbies, we have these special safety precautions in place:

  • Employees and guests must wear a mask at all times
  • Hand sanitizer dispensers are available for use
  • Please maintain social distance of at least 6’
  • We are limiting the number of guests in our offices at any given time
  • We have increased our cleaning and sanitizing regimen in all offices

To view the most current information about lobby and drive-up hours, or to call a branch directly, please view our Locations and Hours.

IMPORTANT MESSAGE FROM CEO PETER BROWN

We understand that, due to situations directly related to the coronavirus, some business or individual customers may find themselves facing financial difficulties. Dedham Savings is here to work with you, and we encourage impacted customers to contact us to discuss how we might be of assistance. 

For Businesses:

  • Economic Impact Disaster Loans

    The Economic Impact Disaster Loan (EIDL), is administered directly by the United States Small Business Administration (SBA) and is available to assist businesses that have been negatively impacted by COVID-19 pandemic.

    The SBA EIDL Loan and EIDL Advance is a separate program from the Paycheck Protection Program.

    The EIDL Loan and EIDL Advance program provides more flexible Use of Proceeds, longer repayment  terms, and different eligibility requirements. For example, certain business types not eligible for PPP may be eligible for disaster assistance under SBA EIDL Loan.

    EIDL Loan and EIDL Advance:

    These loans may be used to pay debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact, and that are not already covered by a Paycheck Protection Program loan.  The interest rate is 3.75% for small businesses.  The interest rate for non-profits is 2.75%.

    To keep payments affordable for small businesses, SBA offers loans with long repayment terms, up to a maximum of 30 years.  Plus, the first payment is deferred for one year.

    In addition, small businesses and non-profits may request, as part of their loan application, an EIDL Advance of up to $10,000.  The EIDL Advance is designed to provide emergency economic relief to businesses that are currently experiencing a temporary loss of revenue.  This advance will not have to be repaid, and small businesses may receive an advance even if they are not approved for a loan.

    The SBA has made numerous improvements to the application and loan closing process, including deploying new technology and automated tools.

    Question: Can a business be eligible for both a PPP Loan and SBA EIDL Loan?

    Answer: Yes!

    For additional information, please visit the SBA disaster assistance website at SBA.gov/Disaster

For Individuals:

  • Economic Impact Payments 
    As part of the economic package in the wake of COVID-19, many individuals can expect to receive an Economic Impact Payment. Payments will begin in the next several weeks and will be distributed automatically, with no action required for most people. The payment will appear as a standard tax refund payment by Automated Clearing House (ACH) into the account typically used to receive tax refunds. For full details, read helpful FAQs from the IRS. We also urge customers to be wary of fraudsters at this time! 

    Regarding Economic Impact Payments, the IRS warns of scams: "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."
  • Protect Yourself from COVID-19 Scams
    Fraudsters are using the COVID-19 crisis to try to take your money and steal your identity. Check out this quick guide that covers many current scams to beware of.
  • Track Economic Impact Payments! 
    Use this handy link to learn about your payment status and whether the IRS needs more information from you. 
  • Mortgage Payment Deferrals
    If you have a Mortgage with Dedham Savings, and are having economic hardship due to COVID-19, please contact us right away to see how we might be able to help.
  • Certificates of Deposit (CDs)
    For customers with CDs who may need emergency access to their funds prior to maturity, we are temporarily allowing penalty-free withdrawals. Contact Us to learn how. 
We continue to support local community organizations through Bank donations, as well as through grants from the Dedham Savings Community Foundation. In the wake of the impact caused by COVID-19, the Dedham Savings Community Foundation has pledged $25,000 in grants to support local food pantries in communities served by the Bank.
We want to remind you about our online and remote banking services. Transferring money, depositing checks, paying bills electronically, and many other services provided to you in our branches are also available to you securely from the safety of your home or business. Click here to learn more about these services.
If you need help signing up for, or using, any of these services, please contact us via:

Phone             
During business hours: 800-462-1190 or 781-329-6700   
After business hours:  888-289-0342

Secure Chat
On www.dedhamsavings.com click the "Chat" button at the top of the page

Secure Email
Inside Online Banking, on the "Customer Service" tab, under "Contact Options," click "Contact Us" and follow prompts
Please note that we're taking extra care to monitor and replenish cash in our ATM's to meet customer needs. We’ve also increased the amount of cash you can withdraw from an ATM. In addition, you can also recieve cash back during some debit transactions, and you can use services like Mobile Wallet, Debit Card, and Bill Pay to make non-cash payments. You can also complete many transactions at ATMs.
To assure smooth banking transactions, we have automatically increased the amount that you can spend using your Debit Card, and have also increased the amount of money you can withdraw from an ATM. To protect your accounts, be sure to use Card Controls through our Mobile Banking app. Click here to learn how to turn your card on and off, set transactions limits, and more.

We hope you always know how much Dedham Savings cares about our employees and our customers. Our concern includes wanting you to be in good health. As we welcome customers back into our lobbies, we have these special safety precautions in place:

  • Employees and guests must wear a mask at all times
  • Hand sanitizer dispensers are available for use
  • Please maintain social distance of at least 6’
  • We are limiting the number of guests in our offices at any given time
  • We have increased our cleaning and sanitizing regimen in all offices

To view the most current information about lobby and drive-up hours, or to call a branch directly, please view our Locations and Hours.

Be aware that fraudsters often take advantage of events such as these.  Be vigilant if you receive something that seems out of the ordinary. Review this helpful information from the Federal Trade Commission about specific coronavirus-related scams.

Regarding Economic Impact Payments, the IRS warns of scams: "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."

The FDIC also warns of a COVID-19-related scam. Read this important bulletin.

Fraudsters are using the COVID-19 crisis to try to take your money and steal your identity. Check out this quick guide that covers many current scams to beware of: Protect Yourself from COVID-19 Scams.
Dedham Savings provides both FDIC and DIF insurance, so your deposits with us are fully insured up to any amount! Regardless of what’s happening in the markets, you can rest assured your deposits are safe and secure.
Learn more about FDIC Insurance and DIF insurance.

We thank you for choosing Dedham Savings, and please know that we will continue to monitor this situation and will take additional steps as needed to continually safeguard our employees and customers.