(updated April 14, 2020)
The Federal Government recently passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This $2.2 trillion relief package covered a number or areas, with $349 billion specifically set aside for the Paycheck Protection Program (PPP) to help businesses. The United States Small Business Administration (SBA) has issued guidance, provided forms and has started to establish the process for businesses to apply for loans or relief. Please keep in mind that these are subject to final rulemaking and eligibility requirements from the SBA.
Upper Peninsula State Bank is here to help our small business customers get through these unprecedented times. If you are in need of assistance with your business, please contact your loan officer or reach out to our loan department and they can direct you to a loan officer that can help you. As always, thank you for banking with us and trusting us with your financial needs.
To get started with this process:
1– Download our SBA Paycheck Protection Program Information Packet. This packet contains information about the program, a checklist of documents you will need, a loan calculation sheet, and use of proceeds. If you are self employed, you will need to download and print the Self Employed Calculation Sheet. You may need to reach out to your accountant for copies of certain tax documents.
2– Download and print a copy of the SBA PPP Loan Application. Complete the application and drop it off in the drive-thru at any of our bank offices along with any additional documents you need to submit.
Please call your loan officer with any questions you may have about this program.
(updated April 10, 2020)
Effective Saturday, April 11, 2020, we will be slightly modifying our drive-thru hours to:
Monday-Friday 9:00 AM - 5:30 PM
Saturday 9:00 AM - 12:00 PM
As as essential service provider, we have temporarily reduced staff to keep our employees and customers safe during this unprecendent time. We appreciate your understanding if you occassionally experience additional wait times in the drive-thru. Thank you for your business and patience.
(updated March 24, 2020)
Effective Tuesday, March 24, 2020 at 12:01 AM EST, Governor Whitmer issued a “Stay Home, Stay Safe” order that directs all Michigan Businesses to temporarily suspend in-person operations that are not necessary to sustain or protect life. Upper Peninsula State Bank IS an essential business and WILL remain open for business as we have been, through our DRIVE-THRUs, ATMs and ONLINE & MOBILE BANKING SERVICES.
We want you to have the confidence that you can bank virtually anywhere, anytime, safely and securely. We also want to remind you that your deposits are truly safe with us and that they are insured through the FDIC. In the FDIC’s history, no customer has ever lost a single penny of insured deposits. The FDIC has posted a document to answer Frequently Asked Questions in relation to the Coronavirus pandemic. Also, you can use the FDIC’s EDIE Calculator to easily calculate insurance coverage of all types of deposit accounts.
We are here to take care of all your banking needs. If you have any questions, please reach out to us. Your health, safety and financial security remains our top priority. As always, thank you for banking with us and trusting us with your financial needs.
(updated March 18, 2020)
Temporarily suspending lobby traffic
As a precautionary measure to help reduce the risk associated with transmission of the coronavirus, effective Thursday, March 19, 2020, we are suspending lobby traffic. WE WILL REMAIN OPEN FOR BUSINESS THROUGH OUR DRIVE-THRUs, ATMs, and ONLINE & MOBILE BANKING SERVICES. We are continuously monitoring the situation and will inform our customers when our lobbies re-open. We want you to have the confidence that you can bank virtually anywhere, anytime, safely and securely. Should you require assistance in signing up for these time saving options, or to refresh your use of it, please visit our e-Banking page or contact us at (888) 865-BANK (2265).
Please note: Our branch lobbies will be available by appointment for special circumstances. To setup an appointment, please call our office at (888) 865-BANK (2265). We genuinely apologize for any inconvenience this may cause.
(updated March 16, 2020)
A Message to our customers about COVID-19
Upper Peninsula State Bank has been aggressively monitoring the latest news about the coronavirus and is acting accordingly. Our highest priority is the health and safety of our employees, customers and the communities we serve. We are committed to doing our part to assist and are paying particular attention to taking recommended preventative measures. We want to assure you that we have a plan in place and are continuously updating it as new information becomes available. We will share updates with you as necessary. Please be aware of the following:
- We are following guidelines and best practices from public health agencies, particularly the Centers for Disease Control (CDC) and our internal Pandemic Plan. We encourage all of you to reach out to the CDC website (www.cdc.gov) and follow their guidelines as well.
- We are continuing to operate with normal business hours but strongly encourage the use of our drive through lanes, our ATM’s and our many digital banking options. These e-banking channels allow you to safely manage your accounts, pay your bills, transfer funds, manage your debit card (including turning it on and off), view check images, keep track of your finances, receive e-statements, and much more. We want you to have confidence that you can bank virtually anywhere, anytime. Should you require assistance in signing up for these time saving options or to refresh your use of it, please visit our website at www.upstatebank.net or contact us at (906)789-7000.
- We have increased the level of cleaning in our offices and have made hand washing available in our lobby’s. Please be considerate of higher levels of hygiene for all concerned during this time. This includes not shaking hands and maintaining greater distances in compliance with recommended “social distancing”.
- We urge you to be aware of increased fraud and scam attempts. These may be in a myriad of forms, but include: email phishing scams, false donation requests, fraudulent phone calls, or treatment remedies, all of which are intended to gain access to your personal or financial information. Do not fall prey to these mal-intended efforts.
- The economic affect this may have on our customers and community needs to be considered. We are prepared to assist in any way we can to ensure business continuity and financial security for our customers.
This is a very fluid and constantly changing situation. As mentioned above, we will continue to monitor the situation and adjust our operations as necessary. Please be patient with us if wait lines become a bit more extended. Remain diligent in your efforts to protect yourself and your family during this time.
Should you have any additional questions, please reach out to us. Thank you for your understanding and cooperation during this time. Your health, safety and financial security is our top priority. As always, thank you for banking with us and trusting us with your financial needs.
Email Scams to be aware of
The bad guys are preying on your fear and sending all sorts of scams related to the Coronavirus (COVID-19). Below are some examples of scams your should be on the lookout for:
- Emails that appear to be from organization such as the CDC (Centers for Disease Control), or the WHO (World Health organization). The scammers have crafted emails that appear to come from these sources, but the actually contain malicious phishing links or dangerous attachments.
- Emails that ask for charity donations for studies, doctors, or victims that have been affected by the coronavirus. Scammer often create fake charities after global events, such as national disasters or health scares.
- Emails that claim to have a "new" or "updated" list of cases of Coronavirus in your area. These emails could contain dangerous links and information designed to scare you into clicking on the link.
- Never open emails tor click on links from people you don't know or were not expecting.
- If you receive suspicious emails, DON'T OPEN THEM. Delete them. If they appear to be coming from an official organization, report the email through their website.
- If you want to make charitable donations, go the the chartity website directly instead of clicking on any links.
Links for More Information
Local Media outlets: