A letter from
Jay Sidhu
Executive Chairman of Customers Bank

We hope that you, your family and your colleagues are safe. We are now entering a new phase of the health crisis and economic chaos. This is the new normal: social distancing, closed businesses, and the acceptance of uncertainty.

Social distancing and days at home are not so bad, however if we use this as a time to slow down, think, and reflect on what we do know and what does work. Here are a few things we can count on:

• If we protect one another, we will get through this. Experience around the world demonstrates that “flattening the curve” makes the disease more manageable. Short-term inconvenience is worth long-term security. Let’s put one another first.
• Customers Bank is fully operational. Some back-office processes have changed. To maximize protection, some of our team members are working from home. But you can expect the same great service and the same great results that we have always delivered for you.
• Your money is safe. In a statement on March 18, the Federal Deposit Insurance Corporation reminded us, “FDIC-insured banks remain the safest places to keep [your] money …. Since 1933, no depositor has ever lost a penny of FDIC-insured funds.”
• Information is power. There are plenty of rumors flying around the Internet. We are relying on the World Health Organization (WHO) and Centers for Disease Control & Prevention (CDC) for information about the virus. We are relying on the Small Business Administration and economic development organizations around the nation for information on small business economic assistance. And, we are relying on the decades of banking experience possessed by our senior management team to develop and deliver customized solutions for your new banking needs.

We are optimistic that when the tide turns, Americans who are ready will lead the global recovery. We are with you; your success is our primary goal.