COVID-19 (Coronavirus) Important Information & Updates
With the continued impact of COVID-19 (the coronavirus), we would like to assure you Middletown Valley Bank (MVB) is open, prepared to continue serving your financial needs, and committed to providing solutions so we are always accessible to you. MVB always operates in the best interest of our customers and employees. The health and safety of both is our top priority, and we are actively following the recommendations of Federal, State, and Local officials.
Branch & ATM Access
We are making every effort to ensure you, our customer, are taken care of and not inconvenienced. Our branches, including drive-ups and lobbies, are open regular business hours. Per federal, state, and local recommendations, masks are optional in all our facilities.
Click here to access a printable guide outlining all the possible outlets to conduct your transaction needs.
Click here to get a list of 24 hour ATM locations.
Economic Impact Relief Information
The enacted "American Rescue Plan of 2021" has prompted many questions. The previously mentioned plan includes spending for public health to confront the COVID-19 pandemic; immediate cash relief for individual citizens; a broad lending program for small businesses; targeted relief for certain hard-hit industries; as well as other provisions.
Below is an overview of some of the provisions of the Acts that pertain to individuals.
Direct Economic Relief Payments.
How are payments calculated?
Under the plan, U.S. residents, permanent resident aliens, or qualified resident aliens with a work eligible social security number may receive an Economic Impact Payment. Please keep in mind there are stipulations, such as payments to individuals who may still be claimed as dependents by their parents. The standard calculation structure is as follows:
- $1,400 per adult and $1,400 per eligible dependent* to individual filers earning less than $75,000 based on 2020 tax returns (or 2019 if most recent on file with the IRS).
- $1,400 per adult and $1,400 per eligible dependent* to joint filers earning less than $150,000 based on 2020 tax returns (or 2019 if most recent on file with the IRS).
- Lesser amounts to individual filers earning more than $75,000 and less than $87,000; and joint filers earning more than $150,000 and less than $160,000.
- No payment will be made to individuals earning more than $87,000 or joint filers earning more than $160,000.
Example: A family of four could receive a payment of $5,600.
*Dependent payments are based on your most recent tax return and may be subject to limitations.
Do I need to take action?
No, for most taxpayers, payments are automatic, and no further action is needed. This includes taxpayers who filed tax returns for 2019 and 2020 and most seniors and retirees.
- Payments for the "American Rescue Plan of 2021" are to begin March 17, 2021.
- If you have a bank account on file with the IRS–for either direct deposit of a tax refund, or for Social Security benefits–it is anticipated you will receive your payment electronically. To check the status of your payment(s), please use the "Get My Payment" tool.
- If you do not receive Social Security benefits or elected to receive your tax refund by check and have not provided the IRS with a bank account, you will most likely receive a check by mail.
It is expected the IRS will conduct the payment process in a similar manner in which they did the CARES Act payments in March 2020. Therefore, for security reasons, the IRS may mail a letter regarding the payment to the taxpayer’s last known address within 15 days after the payment is made. The letter will most likely provide information on how the payment was made and how to report any failure to receive the payment.
Additional information, updates, and to verify IRS communications, please visit www.irs.gov.
Depending on the state, unemployment claims may be filed in person, by telephone, or online.
You should contact your state's unemployment insurance program as soon as possible after becoming unemployed.
Generally, you should file your claim with the state where you worked. If you worked in a state other than the one where you now live or if you worked in multiple states, the state unemployment insurance agency where you now live can provide information about how to file your claim with other states.
How to spot unemployment fraud?
Unemployment fraud can come in many forms, most popularly with money mule scams. We recommend you be extremely cautious with unsolicited calls, texts, and emails, as well as vigilant with your social media communications. We encourage you take the time to review our "Scam & Fraud Alerts" section below.
Business Relief Options.
Many states are offering financial relief to their small business owners. Please check your state for any programs currently being offered.
States Websites & Additional Resources (Click below to visit the agency’s website)
- Maryland COVID-19 Information for Businesses
- Maryland Chamber of Commerce
- Pennsylvania COVID-19 Information for Businesses
- Pennsylvania Chamber of Commerce
- West Virginia COVID-19 Information for Businesses
- West Virginia Chamber of Commerce
- The Small Business Owner’s Guide to the CARES Act
- U.S. Chamber of Commerce
Maryland Economic Impact Information
On February 15, 2021, Governor Hogan signed into law the RELIEF Act for Maryland residents. This was recently distributed and updates will be provided as they become available. Payments are expected to begin the week of February 15, 2021.
Similar to the Federal Economic relief payments, the RELIEF Act includes direct economic impact payments for low to moderate income Maryland taxpayers who filed for and received the Earned Income Tax Credit (EITC) on their 2019 Maryland State Tax Return.
Payments will typically be sent via ACH; if the Maryland Tax Filing was sent direct deposit, otherwise they will be sent via check.
Q: Who is eligible for a RELIEF Act economic impact payment?
A: Relief payments will be made to Maryland residents who claimed and received the EITC on their 2019 Maryland state tax return.
Q: How much may eligible taxpayers receive for the economic impact payment?
A: Individual or joint filers who qualified for and claimed the EITC in Tax Year 2019 will receive a stimulus payment in the following amount:
- $300 to individual tax filers;
- $500 to spouses who filed a joint return, for a surviving spouse, or head of household.
Q: How can taxpayers determine if they are eligible for an economic impact payment?
A: Taxpayers can verify their eligibility for a relief payment and verify the status of their payment on the Comptroller of Maryland’s website: www.Marylandtaxes.gov/RELIEFAct.
Q: How will economic impact payments be received?
A: Payments will be sent by either mail or direct deposit. If the taxpayer received direct deposit of their Maryland tax refund in the 2019 tax year, the payment will be sent via ACH. If the taxpayer did not use direct deposit, the payment will be mailed to the address on file with the Comptroller. It will be noted on the Comptroller’s website how payment is being issued.
Q: What if the payment is sent via ACH and the account is closed or no longer active?
A: The deposit will be returned to the Comptroller of Maryland's office.
Loan Relief Information
The needs of our customers always and continue to be a top priority. We understand these are challenging times and we encourage you to contact us with any questions regarding your loan account. If you have an existing relationship with a loan officer at MVB, please feel free to contact them directly. You can also contact our Customer Care Team by using the Contact Us form at the bottom of this page, calling 1.844.533.9211, or email firstname.lastname@example.org.
Online & Mobile Banking Services
Our digital services are available 24/7 via online & mobile banking or the MVB mobile app. MVB ATMs continue to be available to customers at no charge, as well as our bank by phone system. We always encourage you to contact our Customer Care Team for assistance with any of these services.
Click here to learn more about our digital services.
Paycheck Protection Program
We understand the economic impact the COVID-19 pandemic has had on both individuals and businesses throughout the community. At Middletown Valley Bank, we worked quickly to facilitate your participation in the enacted federal relief programs, and will continue to do so.
At this time, we are awaiting additional guidance from the Small Business Administration on the extension of the PPP, per the Coronavirus Response & Relief Supplemental Appropriations Act (enacted 12/2020). If you have questions about the original PPP (enacted 3/2020), please contact your Relationship Manager.
To learn more, click here.
Scam & Fraud Alerts
Fraudsters are increasing efforts during this time where communications are in abundance and interactions are more limited to digital channels. They have developed COVID-related scams to take advantage of consumers during this very challenging time - often posing as trusted organizations, such as: your bank, the IRS, the Small Business Administration, Medicare, the CDC, the American Red Cross, the Department of Health and Human Services (HHS), or another government organization.
Tips to avoid fraud.
- MVB will never ask for your online-banking password, ATM PIN, etc. Additionally, unless you initiate the communication, financial institutions do not typically request your personal information through email, mail, text or phone.
- It is a best practice to never give out personal information in response to an unsolicited call, text, or email. Personal information can include, but is not limited to your Social Security number, mother’s maiden name, date of birth, bank account number, or credit card information.
- Always remember to think twice before clicking on links, providing personal information, or sending money to anyone in any way.
- Be mindful of watching your accounts to be sure you've authorized every transaction.
- If you contact your financial institution, they may need to verify your identity but will not request your online banking passcodes or PIN.
Additionally, there are scams that are becoming more common during these challenging times. It is very important as a consumer you are mindful of the information you share. The Federal Trade Commission has provided these informative printable resources. As you review, please feel free to contact a member of our team if you have any additional questions related to your account(s) with MVB.
- Keep Calm & Avoid Coronavirus Scams
- Five Things to Know About Contact Tracing
- Money Mule & Unemployment Scams
If you want to learn more about the current types of fraud, check out these helpful resources. (Click below to visit the agency’s website)
- Additional Resources