Read Marquette's current COVID-19 information here.

Current COVID-19 Information 

Check this page frequently for your banking with COVID-19 updates. 

The COVID-19 pandemic has changed the way we interact, and banking is no different. Fortunately Marquette Savings Bank customers have many banking resources available to them to continue on during this crisis. This page is here to help inform and guide our personal banking and business banking customers to ensure their day to day banking needs are met.

General Information

  • 5/7/2020 - Measures Marquette is taking to fight the spread of COVID-19

    As Erie and Crawford Counties move into the state mandated “Yellow Phase” on Friday, May 8, Marquette will continue with precautionary operations. What does that mean for Marquette customers?

    • Drive-thru only transactions remain in effect during normal banking hours.
    • Customers are encouraged to utilize the variety of online, mobile and telephone services available to all Marquette customers to complete their transactions.
    • Loan applications can be completed online or by telephone
    • Checking and savings accounts can also be opened online or by phone.

    For the safety of customers and our employees, Marquette is taking the following steps to prepare for reopening when appropriate:

    • We are adhering to the guidelines issued by the state of Pennsylvania.
    • Face Masks. All customers and employees will be required to wear masks on entering any Marquette Savings Bank Facility.
    • Social Distancing. Stations will be posted on the floor to ensure safety “zones” are clearly indicated.
    • Plexiglass shields are currently being installed in all of our teller stations to protect both customers and employees.

    Please stay tuned to our Facebook account, or the Marquette website for current information.

  • 4/15/2020 - IRS "Get My Payment Tool" IS LIVE

    The IRS made their "Get My Payment Tool" live on their website. To check the status of your stimulus payment, please click here to go to the IRS website.

    We appreciate your patience if you are trying to call or access account information through telephone or online banking. Due to the high volume of calls and inquiries, if you can’t get through on your first call, please try again. We are working as diligently as possible to answer all of the incoming calls.

  • 4/13/2020 - IRS "Get My Payment Tool"

    The IRS plans to launch a second online tool by Friday, April 17. This new tool will enable consumers to check the status of their payment, including the date their payment is scheduled to be deposited in their bank account or mailed to them. The "Get My Payment Tool" will also provide an option for consumers to provide their bank account information so they can receive payments quickly. For more information on this IRS tool, click here to go to the IRS website. 

  • 4/10/2020 - IRS COVID-19 Relief Update

    The IRS has just released information for people who do not file income tax and need to apply for COVID-19 relief. CLICK HERE to learn more about how to apply and who is eligible. For all the latest updates concerning COVID-19 relief CLICK HERE.

  • 4/6/2020 COVID-19 Economic Impact Payments

    What you need to know.

    COVID -19 Economic Impact Payments will begin within three weeks and will be distributed automatically with no action required by most people. For up-to-date information please visit: https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

    In addition it is important to know:

    • Banks cannot set up a direct deposit of the COVID-19 Economic Impact Payments on behalf of a customer. Please refer to the link above for more information.
    • If our customers previously had an account that was used to receive a tax refund direct deposit but has since closed the account, we suggest that they email info@marquettesavings.bank to reopen the account so that the direct deposit can be received.

    Answers to common questions can be found at the website address above or clicking here: https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

  • 3/25/2020 - MSB Branch Update

    Just a reminder that Marquette still continues to provide drive-thru and ATM services at all branches in Erie and Crawford counties with near-normal operations. For the safety of our customers and employees, our branch lobbies are still temporarily closed. You can click here to find the closest branch to you or click here to find the closest ATM. You can also click here to learn about all the products and services available to you. Stay safe! 

  • 3/20/2020 - Message from CEO

    I hope this finds you and your loved ones healthy and safe. As a member of the Marquette family, I wanted to reach out to let our customers know that all of us continue to be here when you need us. While how we interact with each other may temporarily change, our commitment to you never will.

    On Wednesday, for the safety of our customers and employees, I ordered the closing of all lobby operations at our branch offices in Erie and Crawford counties. Yesterday, Governor Wolf ordered all non-life sustaining businesses in Pennsylvania to close as of Saturday, March 21 at 8:00 p.m. Rest assured, banks are NOT included in the list of mandated closures. Marquette will continue to provide drive-thru and ATM services at all branches. In addition, I want you to know Marquette is well prepared to continue near-normal operations for our customers.

    Marquette mortgage customers, it is important to know that we are currently drafting a plan for payment relief and will communicate that as quickly as possible. All of us here at Marquette understand that many of our customers may experience financial difficulty due to the pandemic mandates before this is all over.

    Marquette provides many options for our customers to access accounts and make transactions without interruption. From our drive-thru service, using an ATM, debit card, or telephone banking, to utilizing our many digital, online and mobile services, Marquette customers are well positioned to carry on their banking needs. Customers can also open accounts, transfer money and apply for a loan online all from the safety and convenience of their homes. Our investment in technologies like these has also provided us the ability to connect all of our branches via Zoom conferencing to ensure operations are real-time and optimized during these challenging times.

    In an effort to keep our customers informed, we have developed special COVID-19 web pages that will provide up-to-date status; and information regarding the banking options available. This information can be accessed at our home page by clicking here.

    We encourage everyone to learn about the most current scams and what you can do to avoid them at our Fraud Protection Center by clicking here.

    Lastly, rest assured, we will all get through this crisis together. Marquette will continue to monitor developments and recommendations provided by our health authorities. As our local situation changes, we will determine the most prudent time to return to normal operations. Until then, we remain committed to providing you the best in service.

    Sincerely,

    Michael B. Edwards
    Chief Executive Officer
    Marquette Savings Bank

Questions & Answers 

COVID-19 Business Information

  • 5/14 2020 - Preparing for PPP Loan Forgiveness

    It is important for all recipients of a PPP loan to begin preparation for loan forgiveness submission. Do not delay. Having accurate documentation will be critical.

    In an effort to be proactive, Marquette has developed the “PPP Loan Forgiveness Toolkit” that can be accessed at our PPP Loan Forgiveness Information Center on our website to provide guidance for our customers through this next phase. On this page you will find three important tools:

    • A PPP loan forgiveness information sheet.
    • A checklist of things you should be doing and/or collecting now.
    • The most recent Q&A provided to us by the U.S. Treasury.

    We also anticipate receiving a worksheet from them that will help all businesses estimate their forgiveness portion.

    Be sure to utilize our website to access these resources by clicking here, and for periodic updates to the Q&A document and checklist — as well as other helpful information.

    In closing, we realize you may have many more questions — we do too. But rest assured we will work together to help you find the right answers for your business. We thank you in advance for working with us. 

  • 4/24/2020 – PPP Funds

    Marquette is now accepting applications from Marquette customers for the Paycheck Protection Program (PPP) as $310 billion in reestablished funding will re-open for small businesses. Please review our PPP Toolkit to begin compiling the necessary data to submit to Marquette so we can be prepared to work on your behalf. Click here for your Marquette PPP Application Toolkit.

  • 4/22/2020 - PPP Application Toolkit

    Congress is preparing to approve an additional $320 billion in funding to re-open the program to continue to help small businesses. We anticipate approval later this week.

    While your Marquette team cannot process PPP applications at this time, we are encouraging our business clients to review our PPP toolkit to begin compiling the necessary data, completing the PPP application, and getting a “complete application package” submitted to the bank so we can be prepared to work on your behalf once the SBA platform reopens. Click here for your Marquette PPP Application Toolkit.

  • 4/16/2020 - PPP Funds Exhausted; SBA No Longer Accepting Loan Applications

    Marquette regrets to inform the business community that the $349 billion authorized for the Paycheck Protection Program (PPP) funds have been exhausted. Until such time as congress authorizes additional funding we will be unable to take additional applications for the PPP program.  In the event that additional funding is approved Marquette will immediately begin resume working with businesses to process applications. 

    As we receive additional information we will post it on this bulletin board.

    For additional information CLICK HERE to read the American Bankers Association news release.

  • 4/2/2020 - Paycheck Protection Program
  • 4/2/2020 - Contacting Your Business Banker

    All of our business banking team is working offsite and all remain connected. For convenience, you can obtain their contact information HERE.

    If you have a COVID-19 mandate-related issue, you can reach out to our special COVIDsupport@MarquetteSavings.Bank mailbox to let us know your question or concern.

  • 3/30/2020 - Message to Business Banking Customers

     

    To all our valued Business Banking clients,

    As we continue to deal with the impact of this pandemic, we hope that you and your families and your “work families” are healthy and remain positive.

    We recognize that this pandemic may be affecting some companies more than others. If your company has been impacted, it is important for you to contact your relationship manager to learn how Marquette can help you and your company today.

    If you are fortunate to not be experiencing much of an impact, we ask that you be patient with us so we can work with those companies less fortunate.

    In advance, thank you for your patience.

    Please feel free to call us with your concerns. 

  • 3/25/2020 - Message to Business Banking Customers


    I hope this message finds you well.

    Without a doubt, the COVID-19 pandemic has delivered challenges no one could have predicted. What we are encountering is unchartered territory. However, it is important to know your Marquette Business Banking team is here to help you work through what lies ahead.

    Here is what you should know and what we are doing to ensure you have what you need for your business when the time comes.

    • Keeping in Touch.
    • Outstanding Loans and Lines of Credit.
      • Times like these require prudent decisions. We encourage all of our customers to remain as current as possible with their payments. However, should your business needs change, do not hesitate to reach out to your business banking representative to begin discussion on the options that will make the most sense for your situation.
    • Accessing Government Pandemic Financial Support.
      • As of the time of this message, the details of the government relief program for businesses like yours was not available. Your Marquette Business Banking team is actively monitoring developments here and will be able to share information with you.
      • Our team is exploring how resources such as the Small Business Administration and other economic development agencies could be leveraged on behalf of our customers. If the need arises, we will be able to consult with you about options such as these.

    Know that we are all in this together and we are here to help you in any way we can. Keeping the lines of communication open with us is the best way we can all stay one step ahead of the challenges that we may face in the future. All the best from all of us at Marquette.

    Stay safe, stay healthy and stay positive.

    Respectfully,

    John C. Dill 
    Executive Vice-President, Director of Business Banking

Questions & Answers for Businesses

  • Is Marquette still taking PPP Applications?

    As of 4/20 the $349 Billion authorized for the Paycheck Protection Program (PPP) has been exhausted and congress is in deliberation concerning providing additional funding. In the event additional funds become available, Marquette is accepting employer information needed to expedite completed applications for new funding should it become available. Click here for a checklist of needed information.

  • When can I expect funds from my loan?

    We are required to fund your loan within 10 calendar days your application was received/approved by the SBA.

  • How will my loan be funded?

    To keep YOU as well as our Marquette colleagues safe, Marquette will be processing ALL loan closings electronically (no exceptions). You will receive an email from Marquette with instructions and links to complete the closing process.

  • How will my loan funds be received?

    All loan proceeds will be deposited into your business’s main operating account at Marquette Savings Bank. We will not directly wire any loan proceeds.

  • What is the interest rate on my loan?

    1.0% 

  • What is the term of my loan?

    24 months following the date of disbursement; during the first 6 months interest will accrue but not be due. Beginning in month seven, Accrued Interest will be due and the remaining balance of the loan (assuming it is not all forgiven (see Question 7 for information regarding forgiveness) will be fully amortized over the remaining 18 months of the term of the loan.

  • How am I permitted to use these funds from the PPP program?

    The proceeds of a PPP loan are to be used for:

    a. payroll costs (see below)
    b. costs related to the continuation of group health care benefits during periods of paid sick, medical, or family leave, and insurance premiums;
    c. mortgage interest payments (but not mortgage prepayments or principal payments);
    d. rent payments;
    e. utility payments;
    f. interest payments on any other debt obligations that were incurred before February 15, 2020; and/or
    g. refinancing an SBA EIDL loan made between January 31, 2020 and April 3, 2020. 

  • What counts as payroll costs?

    Payroll costs include:

    a. Salary, wages, commissions, or tips (capped at $100,000 on an annualized basis for each employee);
    b. Employee benefits including costs for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payments required for the provisions of group health care benefits including insurance premiums; and payment of any retirement benefit;
    c. State and local taxes assessed on compensation; and
    d. For a sole proprietor or independent contractor: wages, commissions, income, or net earnings from self-employment, capped at $100,000 on an annualized basis for each employee.

  • Does the PPP cover paid sick leave?

    Yes, the PPP covers payroll costs, which include employee benefits such as costs for parental, family, medical, or sick leave. However, it is worth noting that the CARES Act expressly excludes qualified sick and family leave wages for which a credit is allowed under sections 7001 and 7003 of the Families First Coronavirus Response Act (FFCRA) (Public Law 116–127). 

  • Can my PPP loan be forgiven in whole or in part?

    Yes. The amount of loan forgiveness can be up to the full principal amount of the loan and any accrued interest. That is, the borrower will not be responsible for any loan payment if the borrower uses all the loan proceeds for forgivable purposes described below: The actual amount of loan forgiveness will depend, in part, on the total amount of payroll costs, payments of interest on mortgage obligations incurred before February 15, 2020, rent payments on leases dated before February 15, 2020, and utility payments under service agreements dated before February 15, 2020, over the eight-week period following the date of the loan. However, not more than 25 percent of the loan forgiveness amount may be attributable to non-payroll costs. While the Act provides that borrowers are eligible for forgiveness in an amount equal to the sum of payroll costs and any payments of mortgage interest, rent, and utilities, the Administrator has determined that the non-payroll portion of the forgivable loan amount should be limited to effectuate the core purpose of the statute and ensure finite program resources are devoted primarily to payroll. The Administrator has determined in consultation with the Secretary that 75 percent is an appropriate percentage in light of the Act’s overarching focus on keeping workers paid and employed. Further, the Administrator and the Secretary believe that applying this threshold to loan forgiveness is consistent with the structure of the Act, which provides a loan amount 75 percent of which is equivalent to eight weeks of payroll (8 weeks / 2.5 months = 56 days / 76 days = 74 percent rounded up to 75 percent). Limiting non-payroll costs to 25 percent of the forgiveness amount will align these elements of the program and will also help to ensure that the finite appropriations available for PPP loan forgiveness are directed toward payroll protection. SBA will issue additional guidance on loan forgiveness. If you use the proceeds for non-forgivable expenses and/or the majority of the loan proceeds (other than payroll) represents more than 25% of the loan amount, you most likely will be responsible for an “unforgiven” portion that will have to be repaid over 24 months following the date of the loan. 

  • How much of my loan will be forgiven?

    You will owe money when your loan is due if you use the loan amount for anything other than payroll costs, mortgage interest, rent, and utilities payments over the 8 weeks after getting the loan. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs. You will also owe money if you do not maintain your staff and payroll. Number of Staff: Your loan forgiveness will be reduced if you decrease your full-time employee headcount.

    Level of Payroll: Your loan forgiveness will also be reduced if you decrease salaries and wages by more than 25% for any employee that made less than $100,000 annualized in 2019.

    Re-Hiring: You have until June 30, 2020 to restore your full-time employment and salary levels for any changes made between February 15, 2020 and April 26, 2020. 

  • How can I request loan forgiveness?

    You can submit a request to the lender that is servicing the loan. The request will include documents that verify the number of full-time equivalent employees and pay rates, as well as the payments on eligible mortgage, lease, and utility obligations. You must certify that the documents are true and that you used the forgiveness amount to keep employees and make eligible mortgage interest, rent, and utility payments. The lender must make a decision on the forgiveness within 60 days. 

NOTE: Some of the information contained in this document is directly from the Interim Final ruling for the US Treasury and SBA dated April 3, 2020. This document is for information purposes only. Marquette will not be responsible for subsequent changes, if any, to the Final ruling. We will do our best to keep our customers informed. However, we encourage you to discuss these matters with your CPA and/or Payroll provider.

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