We’re here for you
If you’ve been directly impacted by the coronavirus and would like to discuss what hardship options are available to you—please contact the appropriate TIAA Bank group.
How we’re supporting you
For our consumer banking clients
We’re taking steps to ensure that our clients have increased access to the funds they need right now. Through April 2020, TIAA Bank is waiving fees for wire transfers, ATM transactions, insufficient funds, and late credit card payments. We’re also increasing limits on debit and cash withdrawals, and allowing credit card customers to skip a monthly payment without penalty.
For our mortgage clients
If you’re experiencing financial hardship because you’ve lost work, are ill, or are caring for a sick family member due to COVID-19 and have concerns about making payments, please know that help may be available in the form of temporary payment forbearance. This means that TIAA Bank will pause your monthly mortgage payments for a specific period of time. Those payments will be made up at a later date.
If you find yourself in need of forbearance support, take a minute to complete and return our streamlined assistance form
For home loans in process
If you have a home loan in process, rest assured that your loan expert will continue to provide a steady stream of updates. Rate locks on refinance loans will automatically be extended from 60 to 90 days. Because of current circumstances small delays may occur, but we’ll keep you updated each and every step of the way—and ensure a safer process as we work toward closing.
If you’re currently buying a new home or selling your existing one, there are ways to help protect yourself as you move forward.
For our business banking and small business clients
If you’ve experienced hardship related to COVID-19, please call your Relationship Manager to discuss fee waivers for your business deposit accounts and loan payment assistance that may be available.
While TIAA Bank is not currently a part of the SBA hardship loan program covered by the CARES Act, there are resources available to help our clients. And thankfully, the CARES Act provides relief in the way of loans for businesses with up to 500 employees. Other great ways the CARES Act is bringing relief to small businesses is through the Paycheck Protection Program and expansion of the SBA’s Economic Injury Disaster Loan Program.
For our commercial real estate clients
If you’ve experienced hardship related to COVID-19, please contact Client Servicing at 1-800-638-2278, option 3, to discuss loan payment assistance that may be available.
For our equipment finance clients
If you’re experiencing financial hardship related to COVID-19 and have concerns about making payments, please know that help may be available in the form of payment deferrals. We have simplified procedures to speed up the account modification process and there will be no impact to the credit bureau report of your business.