COVID-19 health crisis: It’s our duty and responsibility to help
There is no doubt this past week has been one of the most challenging in our nation’s history. It has been one of the most challenging weeks in our company’s history, as well. We have worked nearly 24 hours a day during the past few weeks to make sure our customers, our associates and our community are getting what they deserve from us – our undivided attention and consideration.
And while this experience has been difficult on many different levels, I’ve been incredibly humbled and amazed at the sense of community and collaboration I’ve seen among our teams and our clients. As we’ve worked through the CARES Act legislation and helped our customers navigate the Payroll Protection Program during the past few weeks, I have been inspired by our associates who have felt that it is their duty and patriotic responsibility to help everyone we can right now.
To date, we are processing more than 2,000 applications in excess of $1.2 billion in credit needs. It’s taken UMB 107 years to achieve $14 billion in loans, so it’s an incredible accomplishment for us to be processing this amount in a little more than one week’s time.
And, it’s also important to note, we are well-positioned to meet our customers,’ and prospects,’ needs. As a publicly traded company, we sometimes receive knocks for not deploying all our capital. But it’s in times like these that our model proves itself. Others may be stressed for liquidity and how many loans they have in their pipeline to handle – that’s not something we’re concerned with right now. We continue to monitor our liquidity and feel comfortable with our position and are proud to have the resources to offer those who need it, when they need it most.
This is clearly a time when relationships matter, and that is being felt now more than ever. And our clients, as always, say it best—these LinkedIn posts‡ are just a few of the notes that have reinforced the special partnerships we have with our clients.
In addition to the work on the CARES Act and PPP, we have also been helping our associates and customers in a variety of ways, including:
- Bringing in lunch from local restaurants every day to our branch associates who cannot work from home
- Donating N95 masks to at-risk organizations throughout our footprint
- Offering payment flexibility on mortgages, home equity or personal loans, credit cards, and small business loans
- Deferring all payments for practice and small biz customers and deferring all foreclosures for 90 days
- A host of other relief measures you can find here
I’m proud of the way we have stepped up for each other and our clients. It has brought everyone together during a difficult time. Again, it has once again reinforced what we’ve always known: #RelationshipsMatter
See recent coverage in the Kansas City Business Journal,‡ Phoenix Business Journal,‡ St. Louis Business Journal‡ to see how UMB is helping support our customers, associates and communities during this time.
When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.