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Altabanking Episode 2 with Len Williams.

March 20, 2020

KSL and Len Williams KSL Radio Transcript:

Segment title: Altabank is here to get you through these trying times

GRANT: Welcome to Altabanking. Weekly business talk geared toward elevating your financial future. Len Williams is the CEO and President of Altabank. And Len we’ve seen the headlines and heard the stories of people worrying about their safety of their finances. What can you tell us about the safety and security of banks right now?

LEN: There is a relief in knowing that banks are stable, secure and safe. Bank capital levels are at all time highs, which was a great learning from the last recession. Banks are liquid or have sufficient cash available to operate as usual. And the FDIC member banks are incredible safe. We have no concerns about the ability to navigate through this pandemic and any resulting economic slowdowns. Banks are strong, backed by the FDIC insurance and provide added security for our depositors and borrowers.

GRANT: A number of local banks are temporarily closing branches. So how does that impact customers?

LEN:  For the most part it’s business as usual. Especially with drive through and electronic and online banking options. We have reliable user friendly online tools to monitor accounts, pay your bills, food deliveries, manage your finances, do your shopping, transfer money. Even if you are restricted to your house. And an additional piece of mind most banks and credit unions provide customers with fraud protection and immediate notification of transactions. So in many cases, the process may be temporarily changed but you’ll still have full access to traditional banking products and services.

GRANT:  There’s no denying the impact that Coronavirus is having on business. So what can small and medium business owners do today?

LEN: Now is a great time to get in touch with your banker to put some contingency plans in place. Banks are creatively looking for solutions to help business clients and consumers through these times. Some of those options are payment deferrals, emergency loan products, working with the U.S. small business administration, or SBA, to find solutions to get us through this temporary interruption. The main thing we want clients to know is that we’re here to help you get through these trying times.

GRANT:  Len Williams, the CEO and President of Altabank. And this has been Altabanking, brought to you by Altabank.