When Opportunity Meets Preparedness

September 18, 2020

Dear Customer,

The old adage, “Be Prepared,” is sound advice in these interesting times, and September is National Preparedness Month. The good news is, that by planning ahead, you can better seize opportunities and decrease the potential impact of unexpected events.

Emergency Preparedness
Knowing that your important records are protected in a crisis allows you to focus on what’s most important—ensuring the safety of you and your loved ones. Here are some tips to help you minimize the long-term effects of damaged or destroyed documents before disaster occurs, and potentially jumpstart a financial recovery if needed.

Make copies of personal documents for safekeeping and alert a relative, trustee or attorney of their location.
Use a bank Safe Deposit Box to store digital and paper copies of critical documents. These include driver’s licenses, marriage licenses, birth certificates, passport or military IDs, adoption papers, property deeds, wills, insurance policies, bank and investment account information and three years’ tax returns. Put each of these in a sealed plastic bag to keep out moisture.
Secure online data storage, which can serve as a supplement or backup to paper copies.
Print out contact information for trustees, guardians and executors and either share a copy with a trusted family member or friend, or tell them where to find your important financial information.
Create an inventory of personal and household valuables and supplement that list with photo or video documentation.

Financial Nimbleness
Do your banking anytime, anywhere with safe and easy digital solutions. Visit www.bankbac.com/digital to learn more about Mobile and Online Banking services, where you can:

Open accounts online
Pay bills or view account balances and transaction activity online
Make mobile deposits
Set up fraud-monitoring alerts
Try Zelle® to safely and securely send money to friends and family

Remember, debit card transaction limits are for your protection. Be sure to respond to any texts asking you to verify individual transactions that might have been flagged as possible fraud so your card usage is not affected. If you have a concern, please call BAC customer service at 877-226-5820. You can always ask for a temporary increase in your daily debit card limit if you know you are going to be making a large purchase or have increased spending due to an emergency.

PPP Loan Forgiveness Readiness
For our business customers, preparing to qualify for PPP loan forgiveness might seem like a daunting task. Our dedicated staff is available to answer your questions, review your documents, and assist you in preparing your application for timely submission to the SBA. Please know that you may apply for forgiveness as soon as you spend the entirety of your loan proceeds. You do not need to wait until the end of your 8-week or 24-week Covered Period. If you are a BAC PPP customer, please find details and next steps in your ShareFile at https://bankbac.sharefile.com. When you’ve completed your application, contact our PPP Forgiveness team at 209-444-3323 or ppp.team@bankbac.com to notify us that your application and supporting documents are ready for review.

Continued COVID-19 Vigilance
BAC has taken a “Healthy Business” pledge to publicly dedicate ourselves to providing clean and healthy conditions for our employees and customers. As community members who deeply care about our people and businesses, BAC is part of a consortium of local leaders who are jointly encouraging people to continue to adhere to recommended COVID safety protocols. We welcome you to our branches and thank you for observing the rules designed to keep us all safe.

If you and your family have concerns about financial preparedness, please stop by your BAC branch or call Customer Service at 877-226-5820. We can help you with a Safe Deposit Box or answer any questions you might have. After all, we are not only your trusted advisors, we are your neighbors and friends.

Stay Safe!
It is a privilege to serve you.