To Our GSB Community,
Thank you for your patience and understanding as we all adapt to the new normal. We're reopening with the safety of you, our team, and community in mind.
For our business customers, please review the section below, "8/19/20 Update: SBA Paycheck Protection Program (PPP)" for new information on Loan Forgiveness.
Update: August 8, 2020 Paycheck Protection Program Application
Notice: The Paycheck Protection Program closed on August 8, 2020. Current law dictates that the Paycheck Protection Program (PPP) close at the end of August 8, 2020. As such, GSB is no longer accepting PPP applications.
If you have questions about an existing application, please contact us at PPPLoanForgiveness@gsbyourbank.com.
Appointments may be arranged by contacting us via telephone or Appointments@GSByourbank.com.
BRANCH SERVICE AND OPERATIONS
Access Banking Center Hours
GSB has two very convenient and popular digital banking technologies that you can use from the comfort of your home: Online and Mobile Banking.
Enrolling in Online Banking is easy and gives you access to banking features, including balance inquiry, funds transfer, and Bill pay. If you would like to get started, please refer to the step-by-step guides provided below or contact our customer help desk.
For help at any time, give us a call, submit an online form, start a chat or send us an email.
Phone: (203) 453-2721
Toll-Free: (800) 730-6603
Phone: (844) 378-7560
Phone: (800) 730-6603
Phone: (203) 453-9075
Paycheck Protection Program Loan Forgiveness
To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the Borrower) must complete an application and submit it to us following your 8-week or 24-week Covered Period of your PPP Loan. We will be sending you specific instructions as we get closer to your PPP Loan Forgiveness Application due date.
On June 17, the SBA released the Loan Forgiveness Application. Do not complete this form; we will be sending you detailed instructions in the coming weeks. On July 23, 2020, the SBA issued Procedural Notice 5000-20038 providing preliminary procedures for banks to follow for the processing of Paycheck Protection Program (PPP) loan forgiveness applications. The SBA partnered with a third-party processor which went live on August 10, 2020.
We anticipate accepting applications from borrowers with loans exceeding $150,000, beginning the week of August 24, 2020. Detailed instructions will be provided to those borrowers via individual email notices.
For borrowers with loans of less than $150,000, we are postponing accepting applications at this time, anticipating that Congress will intervene and provide an automatic waive for loans less than $150,000. We will communicate any changes to the process in early September.
If you have a question that is not addressed in the FAQs, please email our team at PPPLoanForgiveness@gsbyourbank.com and we will respond as soon as possible.
Please review our helpful tips: Keeping Your Information Secure During a Pandemic
Since our founding in 1875, GSB has remained a strong financial institution. We are well-positioned to weather this economic situation.
GSB is insured by the FDIC. The FDIC has released many reassuring statements during this time, including a reminder to Americans that FDIC-insured banks remain the safest place to keep their money. Their message is strong, "Since 1933, no depositer has ever lost a penny of FDIC-Insured funds."
For those who have additional questions about deposit insurance, the FDIC has complied a list of Frequently Asked Questions for Bank Customers affected by Coronavirus Disease 2019, linked here.
We intend to remain in communication with our community throughout the weeks ahead. We invite you to follow us on social media for timely updates and information.
For the most up-to-date information about Coronavirus and resources available to families and businesses, visit the State of Connecticut website.
Thank you for choosing GSB – we are honored to be your bank.