The day federal government employees missed a paycheck, both Happy State Bank and Amarillo National Bank announced measures they are taking to ease that burden. Both banks offering services to affected customers like deferred loan payments, waving fees like overdraft protection, and even forbearance on mortgage payments.
“We’ve had a number of different people throughout the bank, different departments,” Happy State Bank Marketing Executive VP Bill Holland said. “They came together and said we are going to have people, customers, friends, neighbors who are going to be missing paychecks.”
Amarillo National Bank offered these same services the last time there was a shutdown, so they were ready to be there for their customers again.
“We’ve been getting ready for this since the government started the shutdown last month,” Amarillo National Bank President William Ware told us. “So we were prepared, we’ve seen it before, and we know our customers are going to pay us eventually.”
ANB is even suspending credit reporting for missed payments. It does not want government employees to feel the effects of the shutdown even after it’s over.
“They aren’t trying to miss a payment. If they miss a payment, and it gets reported to their credit report, it could hurt their credit,” Ware said. “We are trying to prevent that. We are going to work with our customers, we are on their side, and we are going to stick with them as long as it takes.”