COVID-19 Updates and Resources

Since our founding in 1851, Ulster Savings Bank has grown consistently to be one of the most well-run and well-capitalized banks in the country. Our capital ratios consistently exceed the regulatory benchmarks for being well-capitalized, and we have received a Bauer 5-Star Rating which is the highest score this independent agency offers for safety, soundness, and performance of banks. We were also recognized by the Extraordinary Banking Institute with Extraordinary Banking Awards in 2018 and 2019, as one of the top 1% of banks in the nation.

While current financial conditions are unquestionably turbulent, Ulster Savings has stood strong for 169 years by always maintaining a strong balance sheet and diversifying ourselves to be successful in any market condition. Throughout our history, we have effectively navigated many turbulent times, including 3 depressions, 26 recessions, 28 presidential cycles, and other events and crises.

Our capital levels and balance sheets are equally matched by our contingency and incident management planning. We have enacted precautionary plans and have additional measures available to ensure uninterrupted service for our clients. Concurrently, our recently upgraded digital platform also ensures our clients can easily manage and transact with best-in-class online and mobile banking capabilities.

When you choose Ulster Savings Bank for your financial services, you can rest well knowing your money is safe and easily accessible.

If you need us we are here for you.  Feel free to contact us at customerservice@ulstersavings.com or by calling 866.440.0391.

Financial Enhancements

Higher ATM Cash Limits: You can now withdraw up to $750 per day from any ATM when you use your Ulster Savings Bank ATM or debit card

Direct Deposit to You Faster: Expediting direct deposit monies that flow through Ulster Savings a little bit sooner than normal in most cases, depending on where your direct deposit originates.

Excessive Transactions: Certain regulations (Reg D) limit the number of withdrawals or outgoing transfers from a savings or money market account (currently up to 6 transactions per statement cycle). We are suspending, until further notice, the limitation of transfers or withdrawals by means of: 

  • preauthorized or automatic transfer
  • telephone or online banking transactions
  • or transfers to third parties using your USB card for purchases either electronically or by check

New York Forward Loan Fund

Did you know there is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits, and small landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE? New York Forward Loan Fund (NYFLF) targets the state’s small businesses with 20 or fewer full-time equivalent (FTE) employees (90% of all businesses), nonprofits, and small landlords that have seen a loss of rental income. NYFLF is providing working capital loans so that they can have access to credit as they reopen. Get prequalified as funds are limited.

Small Business Administration

The SBA offers disaster relief in amounts up to $2 million and with terms up to 30 years. You can apply for SBA’s Economic Injury Disaster Loan using the Disaster Loan Application Portal (DLAP). 

Click here for a complete guide of the programs and initiatives offered to small business owners under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.


My neighborhood bank (Ulster Savings) notifies me that my loan was approved by the SBA as of this morning. I put my application in on Tuesday morning. They were fantastic and helped me gather all of the documentation required. Small banks rock!
~ 4/9/2020 Twitter Post

Protect Yourself

  • NEVER respond to e-mails, texts or phone calls asking you to provide or verify your personal information.
  • If you think the contact is legitimate VERIFY the correct phone number and call the agency or business directly.
  • NEVER pay money to get money.
  • MONITOR your bank accounts and credit.
  • UPDATE your computer and mobile security software.
  • Choose complex passwords – and CHANGE them often.
  • NEVER use public wi-fi when accessing your online bank.
  • REPORT any signs of fraudulent activity to US by calling 1-866-440-0391.​

Stay Safe. Stay Healthy. We understand that unusual times can bring uncertain circumstances and we will be sending future updates when necessary. Should you find that you are in need of our support, please don't hesitate to contact us. After all, without you there is no US so we are here for you. Check back regularly to find out the latest updates. 

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