Helping You Weather the Federal Government Shutdown
Your Solid & Supportive Banking Partner for Over 150 Years
Throughout Monson Savings Bank’s 153-year history, the Bank has proudly helped customers and communities’ weather major challenges and uncertain times – just as we did during the pandemic and previous government operation interruptions.
We are still here. We are solid. We are ready to help.
If you are a federal employee, government contractor, or otherwise impacted by the federal government shutdown, we are here to help.
We Understand Your Concerns
We recognize and appreciate that some of our customers may be concerned about how a federal government shutdown could affect things such as paychecks for federal employees and government contractors, federal benefits payments, National Flood Insurance Program payments, and other government programs.
We also understand that the shutdown may cause uncertainty related to the economy, the markets, and your investments.
If you have questions, please contact us. We are here to listen and support you.
Facing Hardship? Contact Us Early.
If you are facing financial hardship due to these disruptions, please contact us. The most important step is to let us know what you're experiencing. The sooner we understand your needs, the sooner we can help.
We are ready to work with you to explore personalized solutions.
We are Open for Business and Fully Operational.
Monson Savings Bank remains fully operational.
There is no impact on our services.
The shutdown is a federal budget issue and does not directly affect Monson Savings Bank. As always, we remain strong and stable – along with the broader banking sector. Our doors are open to welcome you and support you.
Your Money is Safe, Protected, & Insured with Us.
100% of your deposits held with Monson Savings Bank are FULLY INSURED through the FDIC and DIF.
- Each depositor is insured by the FDIC to at least $250,000.
- All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).
Potential Delays in Government-Backed Lending
While our bank is not directly affected, some federal agencies involved in lending may experience delays:
- Government-Funded Lending Programs: The following government funded lending programs could be impacted since loans requiring those offices’ approval may not be processed while the shutdown is in effect:
- Small Business Administration (SBA)
- Federal Housing Administration (FHA)
- Department of Agriculture (USDA)
- Other agencies with lending programs funded by the federal government.
- IRS Verification: In addition, verification resources from certain government agencies, such as tax transcripts from the IRS, may not be available which could delay mortgage loan approvals.
- National Flood Insurance Program (NFIP): This is a federal program that relies on congressional authorization.
- Flood insurance payments may be delayed by a shutdown.
- Loans closings that require flood insurance can still proceed during a lapse in the NFIP. Learn more.
We will work closely with affected customers to minimize disruptions and ensure a smooth process.
Let Us Help
If you’re impacted by the shutdown, please don’t wait—reach out to us. We’re here to listen, support, and find solutions together.
To learn more about Managing Finances Amid a Government Shutdown read this helpful guidance from the ABA Foundation.
