Cape & Coast Bank Unveils Financial Relief Options to Assist Customers Impacted by Government Shutdown

Cape & Coast Bank, formerly The Cooperative Bank of Cape Cod, has introduced two financial relief options for bank clients that have been directly impacted by the government shutdown and subsequent furlough.

The financial options include a 0% short-term relief personal loan, as well as mortgage payment assistance for Cape & Coast Bank clients who are federal employees or federal contractors affected by the shutdown. Applicants must have an active deposit account with Cape & Coast Bank.

The short-term relief loan is designed to allow impacted clients to help cover essential expenses now, with fast-tracked applications for quick access to funds, no monthly payments required, and a single repayment due at the end of the loan term. The loan amount will be based on 75% of the applicant’s federal gross monthly income, and approved applicants can borrow between $500 and $10,000 per furloughed employee.

Applications need to be completed in person by visiting any local Cape & Coast Bank location, and applicants are required to provide two recent paystubs showing year-to-date earnings, a Shutdown Furlough Notice for federal employees or Stop Work Order for federal contractors, as well as proof of Social Security Number.

For Cape & Coast Bank mortgage clients concerned about an upcoming payment, there are relief options that will vary by loan type and may include the ability to skip a payment or other temporary accommodations. To get started, clients can call 508-568-3400 and will receive personalized guidance from the bank’s local lending team to determine the best solution. “As Cape Cod’s true community bank, we’re committed to providing assistance and solutions to clients affected by the prolonged government shutdown,” said Lisa Oliver, Chair, President, and CEO of Cape & Coast Bank. “We understand this is a stressful time financially for some clients and hope they take advantage of the bank’s special financial relief programs.”