ENB Announces Actions to Assist Customers During Coronavirus Outbreak

March 20, 2020

As the Coronavirus Outbreak continues to grow and evolve, we are receiving numerous inquiries from customers expressing concerns about various aspects of their banking relationship and financial well-being. We want our customers to know that we are ready to stand with them and provide assistance. If ever there was a time to demonstrate our WE CARE commitment and ease our customers’ anxiety, it is now. With that in mind, we announce the following actions that will go into effect immediately.

Waiver of Early Withdraw Penalties on CDs
ENB customers will be permitted to make an early withdraw of all funds from their ENB certificate of deposit without incurring an early withdraw penalty. Arrangements to withdraw these funds can be made by appointment by contacting any ENB branch office, calling (877) 773-6605 or emailing us.

Emergency Consumer Hardship Loan
Consumers experiencing financial hardship will be able to apply for loans up to $2,500. For more information or to schedule an appointment, contact your local branch office or call (877) 773-6605.

Mortgage Rate Lock Extensions
Customers with a mortgage loan in process can be granted a no-cost 30 day rate-lock extension upon request. Customers experiencing settlement delays that are out of their control, such as unemployment or title company shutdowns, are eligible for this extension. Customers wanting to request an extension should contact their Mortgage Expert.

“Reverse” HomeLine Conversions
Customers who have locked in the interest rate on all or part of their outstanding HomeLine home equity line of credit balance will be eligible to unlock this rate. Unlocking the HomeLine’s fixed rate component will convert the full outstanding balance back to a lower variable rate that will hopefully provide some payment relief.

90 Day Principal Payment Deferrals for Commercial Loans
For borrowers in good standing and with an Acceptable or better risk rating, we may defer up to 90 days of principal payments on their loans. Please contact your Commercial Relationship Manager to talk about this option and details.

We hope these small measures can make a big impact on our customers. We will continue to monitor the situation for future opportunities that will allow us to provide additional assistance and lessen their financial burden. Please check our Coronavirus Response Center for updates.

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