Coronavirus (COVID-19) Update

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SBA Emergency Loans - Paycheck Protection Program (PPP)

January 2021

The new COVID-19 Relief Bill was signed into law on December 27, 2020. $284 billion of that bill has been earmarked for small businesses in the form of the Small Business Administration's (SBA) Paycheck Protection Program (PPP). The funds are now available and Star Bank is actively taking applications.
>Please click here to learn more and apply. 

Monday, August 10, 2020, Star Bank will begin submitting applications for PPP Loan Forgiveness. 
  
If  you have questions about the PPP please call your local Star Bank office or send us a message.



Economic Impact Payments: Stimulus Checks


On December 27th, congress signed into a law a new package that authorizes direct stimulus payments of up to $600 to individuals below certain income thresholds. Further legislation is now being considered to increase the amount of each individual payment. The outcome of that legislation is still pending. 

To determine when and how you will receive payment, please visit IRS.gov. We do not have access to that information. 


MN COVID-19 Restrictions

January 6, 2020
 
Governor Walz announced the following safety measures to combat the spread of COVID-19.

Starting January 10th:
  • Indoor dining open at 50% capacity
  • Indoor events open at 25% capacity, up to 150 people
  • Gyms may reopen at 25% capacity, up to 150 people
  • Outdoor recreations and events are open at 25% capacity, up to 250 people
  • Organized sports will resume practice. Games resume January 14th with restrictions.
  • Click the link below to see the full list of restrictions and details
 
Please know that our Star Bank team is vigilantly monitoring the COVID-19 situation around the clock to ensure a healthy and safe work and bank environment. We will continue to employ social distancing practices, frequent cleaning, and employee health checks to help mitigate the potential spread of the virus. Masks are required while inside the bank. If you are unable to wear a mask please use our dive thru, night drop, online banking, or voice banking. 
 
More information about Minnesota's COVID-19 restrictions and other COVID-19 resources can be found here:
 




IRS warns people about a COVID-related text message scam

December 8, 2020
 
The IRS and its Security Summit partners are warning people to be aware of a new text message scam. The thief’s goal is to trick people into revealing bank account information under the guise of receiving the $1,200 Economic Impact Payment.
 
Here’s how this scam works:
People get a text message saying they have “received a direct deposit of $1,200 from COVID-19 TREAS FUND. Further action is required to accept this payment… Continue here to accept this payment …" The text includes a link to a phishing web address.

This fake link appears to come from a state agency or relief organization. It takes people to a fake website that looks like the IRS.gov Get My Payment website. If people visit the fake website and enter their personal and financial account information, the scammers collect it.
 
Here’s what people should do if they receive this message: 
Anyone who receives this scam text should take a screenshot and include the screenshot in an email to phishing@irs.gov with the following information:
• Date/time/time zone that they received the text message
• The phone number that received the text message

The IRS doesn’t send unsolicited texts or emails. The agency will never demand immediate payment using a gift card, prepaid debit card or wire transfer or threaten to have a taxpayer arrested
 
For more information about scams and how to recognize red flags, please click the links below.
 

FAQs: Financial Conditions during a Pandemic

The FDIC has published some "FAQ sheet" to answers questions customers may have regarding banks, insurance, and financial conditions during this historic pandemic. Please click the link below to read the document.
 
 

Reliable Sources of Information

We have compiled a list of helpful resources that are being updated each day with the most current information regarding coronavirus.  
 
 

Bank from your Home or Office


We enjoy seeing our customers face-to-face in our offices, however we know many may prefer to minimize daily public interactions at this time. Also, in accordance with the CDC guidelines, we are asking that anyone who is experiencing a fever or respiratory illness or those that have recently traveled to CDC level 2 or 3 countries postpone their visit to any Star Bank location for the appropriate amount of time. 
 
There are many alternatives to in-person banking, including:

  • From your Computer or Smartphone! 
    Online Banking and the Mobile App are available 24 hours a day, 7 days a week. Check account balances, make check deposits, transfer funds between your accounts, pay your bills, send money using P2P, and view your statements.
  • Voice Banking!
      Dial in to Voice Banking to check your accounts, make transfers, make loan payments, report a lost or stolen debit card. Just dial 855.924.2665 to access this service at any time. 
  • Call Us! 
    Star Bank team members are ready to assist your banking needs or questions via the phone. Visit our locations page to find the phone number for your local office.



A message from Star Bank’s President/CEO, Harry Wahlquist


As a hometown community bank, we practice with passion our Core Value of “Caring” – caring for our customers, employees, and the communities we serve. This lasting value guides us as we face the difficult challenge of responding to the coronavirus (COVID-19), which the World Health Organization declared a pandemic on Wednesday. We are closely monitoring the World Health Organization, the Centers for Disease Control and Prevention, and local health agencies for the latest developments related to COVID-19 while following the guidance of government and public health officials.

Please know that our Star Bank leadership team is vigilantly monitoring the COVID-19 situation around the clock to ensure a healthy work and bank environment. We have enhanced our cleaning and sanitary practices to help mitigate the potential spread of the virus. We are open for business and are evaluating several options for increasing social distancing and further protecting our employees and customers. Further updates will follow.
 
Our hearts and thoughts go out to the people who have been affected by this unprecedented event, and we appreciate the local communities, first responders, healthcare workers, and officials who are on the front line working to contain this coronavirus. Thank you for your participation in the prevention efforts and spread of this virus.


 

Where to find updates from Star Bank

We will continue to monitor developments around COVID-19 and provide updates as they relate to the Bank on our website and our social media.