SPONSORED

How You Can Navigate The Banking World In Light Of The Coronavirus

Mar 23, 2020, 3:30 PM | Updated: Mar 24, 2020, 11:05 am

Photo: Getty Images...

Photo: Getty Images

This article about how to navigate the banking world in light of the coronavirus is sponsored by Altabank. Member FDIC.


While there have been a lot of headlines and stories about people worrying about the safety of their finances, how safe and secure are banks right now? Here’s how to navigate the banking world in uncertain times.

Most Banks Are Stable, Secure, and Safe

Photo: Getty Images

People don’t need to panic as a result of all of this. Capital levels are at all-time highs. The last recession taught banks a lot. So most banks are liquid or have sufficient cash available to operate as usual. FDIC member banks are incredibly safe. We have no concerns about the ability to navigate this pandemic and any resulting economic slowdowns. FDIC insurance also helps protect your money as well.

How Will Customers Be Impacted?

Photo: Getty Images

You may see branches that close temporarily, but for most banks, it will still be business as usual. Thanks to modern technology, there isn’t much you need to go into a branch for that an app won’t do. Between online banking and pay apps, you can manage your finances, do your shopping, and transfer money even if you are restricted to your house. And as an additional piece of mind, most banks and credit unions provide customers with fraud protection and immediate notification of transactions.

What Can Small And Medium Business Owners Do Today?

Photo: Getty Images

Believe it or not, now is a great time to get in touch with your banker to put some contingency plans in place. The Small Business Administration has already started to work with banks. If your small business has been impacted, banks and the SBA have ways to help you.

You can get in touch with Altabank at Altabank.com to see what they can do to help you and your business thrive in these uncertain times.

We want to hear from you.

Have a story idea or tip? Send it to the KSL NewsRadio team here.

Sponsored

a doctor putting her hand on the chest of her patient...

Intermountain Health

Intermountain nurse-midwives launch new gynecology access clinic

An access clinic launched by Intermountain nurse-midwives provides women with comprehensive gynecology care.

2 days ago

Young couple hugging while a realtor in a suit hands them keys in a new home...

Utah Association of Realtors

Buying a home this spring? Avoid these 5 costly pitfalls

By avoiding these pitfalls when buying a home this spring, you can ensure your investment will be long-lasting and secure.

3 days ago

a person dressed up as a nordic viking in a dragon boat resembling the bear lake monster...

Bear Lake Convention and Visitors Bureau

The Legend of the Bear Lake Monster

The Bear Lake monster has captivated people in the region for centuries, with tales that range from the believable to the bizarre.

10 days ago

...

Live Nation Concerts

All the artists coming to Utah First Credit Union Amphitheatre (formerly USANA Amp) this summer

Summer concerts are more than just entertainment; they’re a celebration of life, love, and connection.

15 days ago

Mother and cute toddler child in a little fancy wooden cottage, reading a book, drinking tea and en...

Visit Bear Lake

How to find the best winter lodging in Bear Lake, Utah

Winter lodging in Bear Lake can be more limited than in the summer, but with some careful planning you can easily book your next winter trip.

4 months ago

Happy family in winter clothing at the ski resort, winter time, watching at mountains in front of t...

Visit Bear Lake

Ski more for less: Affordable ski resorts near Bear Lake, Utah

Plan your perfect ski getaway in Bear Lake this winter, with pristine slopes, affordable tickets, and breathtaking scenery.

5 months ago

How You Can Navigate The Banking World In Light Of The Coronavirus