Comerica Bank Supports Colleagues, Customers Impacted by COVID-19

Date : 03/26/2020 @ 7:17PM
Source : PR Newswire (US)
Stock : Comerica Inc (CMA)
Quote : 29.34  -1.69 (-5.45%) @ 9:29PM
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Comerica Bank Supports Colleagues, Customers Impacted by COVID-19

Comerica (NYSE:CMA)
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1 Month : From Mar 2020 to Mar 2020

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DALLAS, March 26, 2020 /PRNewswire/ -- Comerica Bank announced today additional actions to support colleagues during the Novel Coronavirus (COVID-19) pandemic, as well as various relief options to assist customers who are experiencing hardships as a result of COVID-19.

Comerica logo. (PRNewsFoto/Comerica Bank) (PRNewsfoto/Comerica Bank)

Colleague Support
Comerica will raise employee compensation for colleagues with on-site roles through May 7 as part of the bank's newly established "Promise Pay" program. Additionally, colleagues required to report to Comerica locations on a routine weekly or monthly basis for their regularly scheduled hours are also eligible. Comerica is paying colleagues in these roles up to $350 per two-week pay period or $700 per month.

"The health and safety of our colleagues is paramount. During this unprecedented time, we want to underscore our commitment to colleagues who continue to work from Comerica locations, whether in our banking centers or in critical operations roles," said Curt Farmer, Chairman and CEO, Comerica Incorporated and Comerica Bank.

Comerica has also instituted several additional colleague benefits due to COVID-19, including providing a new dependent and elder care stipend for March and April ($400 per month) to help cover unexpected costs, extending special circumstances pay, adding 10 paid workdays to care for individuals with COVID-19, covering the cost of COVID-19 testing, and providing no cost telehealth (online visits) and other health care benefits pertaining to COVID-19.

Customer Support
Comerica is supporting its business customers who have been impacted by COVID-19 with various loan payment deferral and fee waiver options. Business customers are encouraged to contact their relationship managers to discuss or call (888) 444-9876.

Personal customers experiencing financial difficulty as a result of COVID-19 should contact a customer service representative to discuss fee and penalty waivers, loan deferrals and other options that best support their circumstances. Comerica customers can call (888) 444-9876 to discuss their unique situations.

Regarding Comerica banking centers, the following are details associated with temporary changes to our locations in Arizona, Florida, Michigan and Texas:

  • All banking center lobbies will be closed.
  • ATM and drive thru services will continue to be available with no change in hours where applicable.
  • Appointments can be requested for transactions or services that can't be done via drive thru or Banker Connect machines. Lobby access is limited to 3-5 customers at a time to adhere to CDC social distancing rules.
  • Safe deposit box access by appointment.
  • Night depository services available.
  • ComeriMart in-store locations will be closed, but ATMs remain available; Access to safe deposit boxes scheduled by appointment only. All other services will be redirected to nearby banking centers.

Comerica banking centers temporary changes in California:

  • Banking Center hours: Monday – Friday, 10:00 a.m.4:00 p.m. PT; Saturday hours remain the same.
  • Lobby access limited to three customers at a time to adhere to CDC social distancing rules. If needed, customers may wait in the vestibule or their car and can receive a phone call when space is available. Appointments can be scheduled, if needed.
  • Social distancing policies remain in effect.
  • Drive thru services fully available where applicable.

Retail customers are encouraged to use Comerica's web, mobile and phone banking services to minimize unnecessary trips in person or utilize banking center drive thru services. To schedule an appointment or find a drive thru, ATM or Banker ConnectSM interactive teller machine, customers can visit www.comerica.com/local.

For more information on Comerica's support, visit comerica.com/coronavirus.

Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $73 billion at Dec. 31, 2019, and celebrated its 170th anniversary in August 2019.

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SOURCE Comerica Bank

Copyright 2020 PR Newswire

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