Heartland provides relief and support to employees and customers in wake of COVID-19

Committed to protecting health and well-being of employees, customers and the communities we call home

Tuesday, March 31, 2020

Heartland Financial USA, Inc. announced relief and support for employees, consumers and businesses facing challenges due to the economic impact of COVID-19.

“We recognize that the emergence of COVID-19, and the dramatic steps we all must take to limit its spread, are creating financial and other challenges for our customers and communities,” said Bruce Lee, President and Chief Executive Officer of Heartland.

“Recent weeks have been incredibly challenging as we face the rapidly changing situation and COVID-19 altering our daily lives. While this is an unprecedented event, we are nevertheless prepared.”

Heartland’s financial strength, coupled with our strong leadership and dedicated local talent, position us to withstand the current economic conditions.  Together, with our 11 member banks, we have built a fortress balance sheet with a combined $13 billion in assets and strong liquidity.

Our banks’ full line of products and services are available.  To protect our employees and customers, we are providing convenient drive-thru service at our branches, with in-person meetings available by appointment.

Customers are encouraged to use online and mobile banking services, which provide self-service banking 24/7/365. Our banks’ websites are regularly updated with any changes to lobby and drive-thru availability and branch hours.

Consumer and Small Business Relief Actions
We continue to closely monitor the impact of COVID-19 and may adjust our consumer relief programs as necessary to support our customers. Please visit the COVID-19 resource center on our website for frequent updates and look for email updates as well.

Through April 30, 2020

  • Monthly maintenance fees associated with consumer checking and savings accounts will be waived. We will waive monthly maintenance fees associated with maintaining minimum balances on consumer checking and savings accounts.
  • Foreign ATM fees assessed will be waived. Customers using other banks’ ATMs will not be assessed fees. Other banks and ATM operators may charge a fee and balance inquiry, withdrawal and international fees may apply. 
  • CD early redemption fees will not be assessed. Customers who need to redeem a CD early will not be assessed an early redemption fee. We recognize that customers may need access to funds to take care of unexpected expenses or respond to changes caused by the current situation. Customers must contact us to redeem to any CDs. 

Through July 1, 2020

  • Late fees on all consumer loans will be waived. The late fees on all consumer loans will be automatically waived for customers. 
  • No payment will be required on consumer credit cards. Most credit card customers will automatically see a $0 minimum due on statements beginning on April 1, 2020. Customers who have auto-payment set up for their credit card account will need to cancel auto-payment for their minimum payment to reflect $0. Customers who cancel auto-payment will see a one month delay in statement changes.
  • Customers may elect payment deferral on consumer installment loans. Consumers may elect to defer all payments on consumer installment loans without penalty. This will not be done automatically for customers. Customers must visit our website and complete the e-form for installment loan deferrals.
  • Small businesses can modify their loan. Small business customers may choose to make interest-only payments. They will receive a direct communication advising them how to modify their existing loan.
  • Small businesses can skip a payment on their credit card. Most small business credit card customers will automatically see a $0 minimum due on statements beginning on April 1, 2020. Customers who have auto-payment set up for their credit card account will need to cancel auto-payment for their minimum payment to reflect $0. Customers who cancel auto-payment will see a one month delay in statement changes.

Keeping Employees Safe
Continuing to deliver excellent service to our customers and communities also means taking steps to protect the health and safety of our employees. We have:

  • directed all employees who can work from home to do so.
  • deep cleaned our locations to reduce the spread of germs.
  • committed to pay all employees at 100% through April 30, 2020. Employees who need time off because of illness, to care for a sick family member or to provide child care due to school or day care closings will be paid at their full rate.
  • restricted business travel, are monitoring personal travel, and cancelled all in-person events and meetings.