Issue link: https://nebusinessmedia.uberflip.com/i/1251192
www.HartfordBusiness.com • May 25, 2020 • Hartford Business Journal 27 LEADERSHIP IN A TIME OF CRISIS Key.com Dear Connecticut Business Community, I have never been prouder to be a banker and member of the banking industry. As the healthcare industry continues to serve our community in the battle against COVID-19, our industry praises their efforts and is doing our part to battle its economic impact. Unlike the 2008 financial crisis when banks were part of the problem, today we are part of the solution. We are stronger, better capitalized, and more liquid, and we stand prepared to support our employees, our clients, and our communities in managing through these difficult times. We are working tire- lessly for you, and we appreciate the trust you place in us. Helping our clients and communities thrive The past few months have been truly trying for all of us, but KeyBank's commitment to the financial wellness of our clients and communities has not waivered. Even as we pivoted many of our teammates to work from home and put strict safety and social distancing measures in place in our branches to help reduce the spread of the coronavirus, our teams remained on the job for you. Together we have: • Kept the majority of our Connecticut branches open and accessible by appointment and through our drive-up windows. We also remain available 24/7 through online, ATMs, and by phone and mobile banking. • Put relief programs in place for clients experiencing financial hardship, including payment deferrals, fee and penalty waivers, and personal emergency loans. • Helped both clients and non-clients receive the full value of their government-issued stimulus benefit by waiving nega- tive account balances, overdraft fees, and check cashing fees. • Worked tirelessly to process more than 39,000 SBA/ Paycheck Protection Program loans for businesses and nonprofits — including thousands of applications from Connecticut businesses that will help them keep workers in their jobs; 90% of our lending went to small businesses and approximately 23% of them are located in low- and moderate-income neighborhoods. • Directed $1 million to COVID relief efforts across our footprint, including support to Connecticut community foundations, food banks, and United Ways. KeyBank Foun- dation also shifted an additional $5 million in commit- ments to projects that help our most vulnerable popula- tions impacted by COVID. • Raised an additional $1.9 million in employee giving and corporate matches to support hundreds of local nonprof- its meaningful to our teammates. Ready for tomorrow KeyBank is proud to be here for you today, and as we work together to reopen our state and country, we are ready to help you tomorrow. We appreciate the trust you place in us and we are committed to your financial wellness. With roots that extend back to 1825, Key has a long and strong history that has seen us prevail through many challenging times — and we have always been there for our clients, for our colleagues, and for our communities. We pledge to continue that legacy. Sincerely, James R. Barger KeyBank Market President Connecticut and Massachusetts