Stay healthy at home.
June 24, 2020 Update:
- Did you know that you can always make an in-person appointment with your loan officer or favorite banker by simply calling us at 800.672.6365 and scheduling in advance? In the meantime, the Gillette office remains open, and other branches will open as they deem appropriate for their area, and with protective and social distancing measures in place.
- Effective July 1, Skip A Pay fees will be reinstated.
May 26, 2020 Update: Gillette, WY Lobby is open
May 22, 2020 Update: Gillette Opening May 26
- We would like to reserve the 9:00-10:00 AM hour each day for our senior aged members (60+) and those who may be at higher risk for health complications.
- The lobby will be open 9:00-4:00 each day. We will be closing an hour early to ensure a thorough cleaning at the end of the day.
- Due to the space constraints, we will be limiting the lobby to just 2 members at a time. Please be mindful of that if you have other family members with you.
- We have "sneeze guard" plexi glass shields and floor decals in place.
- Staff members having interaction with members will be wearing face masks.
- Signs will be posted at the entry that members are required to wear face mask while in the credit union.
- Members will be asked to wear their own face masks while in Highmark facilities, but will be required to temporarily drop them in order to capture full face on security system. Note that Highmark will not be furnishing masks for members.
- Staff will have a forehead thermometer on site and will use it at their discretion.
- Established cleaning procedures will be adhered to.
- Members experiencing symptoms of or diagnosed with COVID-19 are advised to delay banking transactions and not come into our facilities.
- Highmark reserves the right to close lobby at its discretion based on state and health department guidelines.
May 13, 2020 Update:
- Rapid City
- Belle Fourche
- Mobile App
- Online Banking
- Call Center - 800.672.6365
The Department of Treasury is sending stimulus funds out weekly. There is no need to call us regarding a possible pending deposit, it will post to your account when we get the funds. If you feel you should be getting a stimulus deposit and did not, Check with the federal government’s website. The Department of Treasury is sending out paper checks intermittently to those that do not have a direct deposit on file with them.
April 29, 2020 Update:
- Adjusting hours of lobby service to accommodate senior-aged members and additional sanitizing
- Expanded Call Center Hours
- 6 foot social distanced floor decals
- Glass “sneeze guards” at each of our socially-distanced teller stations
- Hand sanitizer at Entrance/Exits
- Face Masks required to be worn by all member facing employees and likely, members too.
- Limiting the number of members allowed in each of the lobbies at one time
April 28, 2020 Update:
April 20, 2020 Update:
April 6, 2020 Update: Make Your Own Cloth Face Coverings (Instructions from the CDC Here)
- 90 Days to First Payment on all Consumer Loans (not applicable on lines of credit or HELOC)
- Sales Tax Assistance on all Consumer, collateral-based loans, such as vehicles, recreational vehicles, RVs, motorcycles etc.
- Members will be allowed to finance sales tax up to $1,000
- Interest rate of the sales tax financed will be the same as the rate on the collateral
April 1, 2020 Update: Current SBA Disaster Relief Efforts
Together, we are facing a truly unparalleled financial situation. The global Coronavirus pandemic is affecting all of our families, our businesses, our communities, and our way of life. Below is a list of valuable programs that are available to you. Your Highmark Commercial lending team is here to help you and your business through this difficult financial time.
SBA Debt Forgiveness
The stimulus includes $17 billion in funding for a provision to provide immediate relief to small businesses with standard SBA 7(a), 504, or microloans. Under this provision, SBA will cover all loan payments for existing SBA borrowers, including principal, interest, and fees, for six months. This relief will also be available to new borrowers who take out an SBA loan within six months after the President signs the bill. The measure also encourages banks to provide further relief to small business borrowers by allowing them to extend the duration of existing loans beyond existing limits; and enables small business lenders to assist more new and existing borrowers by providing a temporary extension on certain reporting requirements. While SBA borrowers are receiving the six months debt relief, they may apply for a PPP loan that provides capital to keep their employees on the job. The six months of SBA payment relief may not be applied to payments on PPP loans.
The stimulus also includes a permanent fix that allows SBA to waive fees for veterans and their spouses in the 7(a) Express Loan Program, regardless of the President’s budget. Under current law, SBA may only waive fees on 7(a) Express loans to veterans when the President’s budget does not project a cost above zero for the overall 7(a) loan program. Learn More Here.
SBA 7(a) Keeping Employees Paid and Employed Act
The stimulus includes nearly $350 billion in funding for a provision to create a Paycheck Protection Program (PPP) that will provide small businesses and other entities with zero-fee loans of up to $10 million. Up to 8 weeks of average payroll and other costs will be forgiven if the business retains its employees and their salary levels. Principal and interest are deferred for up to a year and all borrower fees are waived.
Proposed new legislation to be passed by House and signed into law, March 30th.
Loan for payroll and debt obligations from March 1st until December 31st, 2020.
Lenders will process the loan as they would a SBA 7a.
100% SBA guarantee until 12/31/20. The loan would then transition to either a 75% or 85% guarantee depending on the initial loan balance.
SBA Express Bridge
The Express Bridge loan program allows SBA Express lenders (Highmark has this delegated authority) to provide expedited financing to small businesses located in declared disaster areas. Express Bridge loans are intended to be interim loans. Businesses use these funds for disaster-related purposes while they apply for and await long-term financing. Terms are as follows:
Processed through your lender at Highmark Credit Union
Maximum loan amount: $25,000
50% SBA Guarantee
Maximum maturity: 7 years
Program expiration date: 09/30/2020
SBA Express Loan
The Express Bridge loan program allows SBA Express lenders (Highmark has this delegated authority) to provide expedited financing to small businesses.
Processed through your lender at Highmark Credit Union
Term loan or lines-of-credit
Maximum term: 10 years
Maximum loan amount: $350,000
50% SBA Guarantee
For further details on the SBA Assistance, please visit the SBA webpage dedicated to Covid-19 Small Business Guidance and Loan Resources.
Contact your Highmark Commercial loan team with questions about any of these provisions. Things are changing very rapidly, and we are doing our best to stay on top of this for you, our members.
Beginning April 6, our call center staff will be available with expanded hours 8 am - 7 pm Monday-Friday to assist you with any questions. Simply call 800.672.6365.
We'd also invite you to enroll in Online Banking.
March 24, 2020 Update:
- Members may skip payments for up to 90 days in order to deal with the COVID-19 effects such as quarantines, layoffs, or having to care for children.
- Members will only be able to apply for one Skip-A-Pay every 30 days based on needs.
- Members may apply online or via our Call Center at 1.800.672.6365
March 23, 2020 update:
We’re All In It Together.
- Borrow from $500 - $2,000
- 60 days with no payment
- Special low rates (6 month term 3.0% APR*, 9 month term 3.5% APR*, 12 month term 4.0% APR*)
- No prepayment penalties or application fees
- Easy to apply online at highmarkfcu.com or Call us at 1.800.672.6365
- Applications accepted beginning March 23rd
- While our lobbies are closed during the quarantine time, please know if you need access to your funds within any certificates you hold with Highmark Credit Union, you may request a withdrawal from these certificates without penalty to help with any expenses during this time. Members should contact a Call Center Representative to assist them with a withdrawal/transfer of these funds to their checking or savings account.
- Rates are changing quickly and it is a volatile market. We don’t want this to prevent you from getting the money you need now. We will be offering a one-time rate drop allowed per loan financed at Highmark once the new rates are posted! You will be able to take advantage of the lower rates and still finance your loan with Highmark today!
March 19, 2020 Update:
Here are a few suggestions:
- Use Online Banking. It’s a free and easy way to check your balances, transfer funds, make loan payments, and more, from your desktop or mobile device 24 hours a day. With our mobile app, you can even electronically deposit checks. If you don’t yet have Online Banking, please give us a call at 1.800.672.6365
- Use our ATMs. We have ATMs located in Rapid City, Custer, and Spearfish, where you can withdraw cash, transfer funds, or make loan payments. Transactions are posted the following business day. We’re also a member of the Co-Op Network, which allows you surcharge-free access to nearly 30,000 ATMs nationwide.
- Call us at 605-716-4444 Monday-Friday 9:00 AM – 5:00 PM. Our Call Center can handle almost any banking need, or transfer you to someone who can.
- Use our night drops. Each branch contains a night drop where you can make your deposit. It will post the following business day.
- Also on the recommendation of the CDC, members who have traveled to Italy, S. Korea, Iran, China, and Japan are discouraged from visiting any credit union branch for 14 days after their return from these countries or until the CDC lowers their travel risk assessment to an acceptable level. These countries are identified as currently having Level 3 and Level 2 travel restrictions by the CDC.
- We appreciate your cooperation as we do our part to keep our staff, members, and communities as safe and healthy as possible during this time.
- Wash your hands often, with soap and water for a minimum of 20 seconds.
- When possible, avoid shaking hands.
- Use hand sanitizer containing at least 60% alcohol.
- Avoid touching your eyes, nose, and mouth.
- Cover coughs and sneezes with a tissue or the inside of your elbow.
- Clean frequently touched objects and surfaces regularly.
- Avoid contact with people who are sick.
- Stay home when you are sick.
Read these tips to protect yourself from scams.