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Helping in a Difficult Time

Posted April 2, 2020

As a local bank in tune with our community, we understand the impact of recent events. Beyond ensuring a safe environment for our colleagues and customers, as well as continuity of our products and services, we want to provide additional assistance where we can.

In addition to the many other changes we have made to date, effective March 26 and for the next 90 days, we have waived the following fees:

  • Overdraft of Funds
  • Insufficient Funds
  • Uncollected Funds
  • Overdraft Privilege Service
  • Continuous Overdraft
  • Savings Overdraft

We have also added the following 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: We are expediting direct deposit monies that flow through Ulster Savings. What that means is seeing your direct deposit in your account a little bit sooner than normal in most cases, depending on where your direct deposit originates. Savings and Money Markets:

Excessive Transactions: Reg D limits the number of withdrawals or outgoing transfers from a savings or money market account (currently up to 6 transactions per statement cycle). Given the current environment, and with temporarily closing our bank lobbies, we are suspending, until further notice, the limitation of transfers or withdrawals utilizing: 

  • 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.

For a full list of all the options available to you, including applying for loan payment deferrals, please visit

Business Customers

As we await the final details of the Paycheck Protection Program (PPP), which have not been released yet, we are advising our clients to be prepared by having certain items ready to submit. They may not all be needed for the Payroll Protection Program loans, but if not, these documents could be very useful for other governmental and non-governmental loans. The situation is fluid and having the below financial information on hand will serve you well:

  1. 2019 internally prepared profit and loss statement.
  2. Payroll records for 2019 and 2020.
  3. 2017 and 2018 corporate tax returns. We also advise that you sign up for direct notification about PPP by visiting

As soon as we are aware of final details of the program, we will be sending another email notification to you with guidance. As always, we are here for you. Thank you for being a valued customer of Ulster Savings Bank.

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