March 26, 2020 – PORTLAND, ME – Members of the Maine Immigrant Prosperity Network (MIPN) and ProsperityME met via zoom
on Tuesday, March 24, 2020 to discuss how to best support the immigrant community during the health crisis presented by coronavirus. Maine Community Bank and its divisions, Biddeford Savings and Mechanics Savings, are among the founding members of MIPN.
ProsperityME and MIPN members consider the health and well-being of the community our highest priority. We also recognize in this time of uncertainty that the financial and economic well-being of our students, clients, and members is also of critical importance. The temporary closure of “nonessential” businesses and adoption of “social distancing” – essential public health measures taken to slow the spread of the virus – have already begun to impact our economy. We want to help lessen the financial impact of the virus on our immigrant members any way we can.
In that spirit of support, MIPN is committed to helping the immigrant community conduct “business as usual” as much as possible. Please know that banks, credit unions and insurance companies are considered essential services and will remain open for the duration of the health crisis. Please call ahead if you plan to travel to your institution to conduct business, as “drive thru” financial services may be different from what you are used to.
The safest place for your money in a personal savings or checking account in a financial institution. Money deposited in an FDIC insured or NCUA insured credit union is protected by the federal government up to $250,000. The United States financial system is very stable and, as a nation, we have not experienced a serious bank panic in over 80 years. Using a debit card – which can be cleaned after transactions – or a touch-free digital wallet like apple or google pay – is the lowest health-risk payment method. We encourage the community to adopt online or mobile banking where possible to protect your assets and your physical health with added benefit of having access to your accounts 24/7.
MIPN and ProsperityME will continue to meet in April as the situation is ever-evolving. We understand the need to be responsive and to provide accurate and useful information to the community as soon as we can. We attached to this message practical information to help you
conduct business safely and protect your financial well-being during this time. While we cannot be certain what will happen during the coming weeks, we are committed to serving and guiding our community though this crisis. It is our hope that we can help all our members,
clients, and students emerge into a stronger and more inclusive Maine economy in the coming months.
Thank you for being part of our community.