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COVID-19
Update Center

Welcome to the COVID-19 Update Hub. Here you will find all the information you need to stay safe and stay informed about your options during this pandemic and everything you need to know about financial relief, online and mobile banking, and service hours.

Stay safe and please remember, we are in this together.

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Table of Contents

Official Communications

  • For updates on COVID-19, you can always visit the cdc.gov or who.int (World Health Organization).

Oriental’s Actions

  • Our branches are operating under special requirements and through appointments.
  • For your safety and our employees, we have taken several actions. 
  • We have dedicated opening hours for more vulnerable customers and healthcare workers. 
  • New relief options are available, including a moratorium on loan, mortgage, and credit card payments for individuals and businesses.
  • We have implemented a no-fee policy when using ATMs outside the Oriental network. 
  • The limits for FOTOdepósito and People Pay have increased.
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Personal Financial Relief

Relief Programs

We know some customers will be under unusual financial strain. We are here to help you through. Review the options and apply below.

Secured Line of Credit*

General Requirements

  • Be an Oriental customer.

Amount

  • You can apply for up to $25,000.

Terms

  • Special rate of 1.50% APR for 12 months.1

 

Request Here

Unsecured Personal Loan*

General Requirements

  • Be an Oriental customer.
  • Present evidence of income up to March 13. 

Amount

  • Up to 2 months’ salary/compensation for a maximum of $3,500.

Terms

  • A fixed-rate of 3.99% APR for up to up to 24 months.2

More information

Request Here

Moratorium options

If you have difficulties making the payment on your credit card or line of credit, personal, mortgage, or car loan, please review the moratorium options below. Select the one that best suits your needs.

Moratorium for Credit Cards or Lines of Credit

General requirements

  • The bank will not charge late fees, penalties, increase the interest rate, and charge additional interest to those established in the Revolving Accounts Plan Agreement (Agreement) for accepting the deferment plan.
  • Your statement will not show a required minimum payment.
  • You'll have a temporary suspension of your monthly payments.
  • For more information, check out the terms and conditions.

Moratorium for Personal and Auto Loans

General requirements

  • Forbearance will not affect the principal balance of the debt
  • The bank will not charge late fees, penalties, increase the interest rate, nor will it charge additional interest to those established in your loan contract for accepting the deferment plan.
  • You'll have a temporary suspension of your monthly payments.
  • For more information, check out the terms and conditions.

Moratorium for Mortgage

General requirements

  • Temporary suspension of your mortgage’s monthly payment.
  • Forbearance will not affect the terms and conditions of your mortgage loan.
  • The payments that are not completed during the moratorium period will be paid on the loan’s due date or cancellation, what happens first.
  • To find out how this alternative works, click here.

Request Here

FAQs
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Customer Account Help

Mobile & Online Banking

For faster and easier account management, we recommend you access your account digitally.
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Online Banking

Sign in to Your Account to:

  • Verify balances and transactions
  • Make payments and transfers
  • Receive alerts and statements
  • Send money to other people

Set Up Online Access

  • If you aren't already using our website and app, we encourage you to register here so you can get account information virtually anywhere 24/7.
  • Customers with accounts originating from the former Scotiabank, register here.
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Mobile Banking

Download our mobile app (Android and iOS) to get on-the-go access to your accounts and bank securely 24/7. 

Customers with accounts originating from the former Scotiabank with an iPhone or iPad, download it from the App Store. If you have and Android, download it from the Play Store.
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Business Account Help

If you are a small or medium business owner, self-employed, or you are an independent contractor, the below section is for you.

Paycheck Protection Program (PPP)

Purpose

For the payment of:

  • Payroll cost
  • Rent
  • Mortgage Interest
  • Utilities

Amount

Up to 2.5x business average monthly payroll.

Term 

No payments for the first 6 months, then a 2-year term loan on Unforgiven Balance

Loan Forgiveness

Up to 100% approval.

 

Request Here

 

Important information:
If you have already applied to the Payment Protection Program, it is not necessary to resubmit it, as we continue to process all previously submitted applications.

Learn about Loan Forgiveness

If you received funds through the Paycheck Protection Program, you might be eligible for loan forgiveness. As we will soon begin accepting applications for forgiveness, we urge you to keep an eye on this page for future updates. 

  • Loan forgiveness is not automatic and should be requested after the eight-week loan period.
  • You must certify and document that the use of the loan funds was for the SBA's eligible purposes.
  • If you requested a PPP with us:
    • You will receive an email when you can apply for forgiveness online.
    • We will review your request and send it to the SBA for the decision.
    • You can check the status of loan forgiveness online in the portal that we will enable for you.
    • We will keep you informed of the entire process.
Our Numbers

We are actively supporting our small and medium business clients during this difficult time. This has resulted in aid for thousands of companies to secure loans to keep their employees paid. To access data related to our Paycheck Protection Program activity, please click the button below.

 

See data here

Are you interested in knowing more about our commercial services and products?

 

Contact Us

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Contact and Branch Information

Branch Information

If you need to visit us:

We invite you to take advantage of the technology available for you to do your banking transactions from home. If you still need to visit us, we’ve reduced our branch hours and implemented measures that will help prevent the spread of this virus. We will provide every client with some hand sanitizer. For everyone’s safety, only 1 person per family permitted. View our working hours here.

Make an Appointment

If you must visit a branch, you must make an appointment first. Please cover your face with a face mask, scarf or another appropriate object.

 
Click here to know which branches are working.

We are in this together.
We are more than ready.

 

*Subject to credit approval. Certain terms, conditions and restrictions may apply. 

1There will be an Introductory 1.50% APR. This Introductory Rate applies only to Cash Secured Lines of Credit for up to $25,000 and will be in effect for 12 months. After this period, any remaining balance and new balances going forward will be subject to the then current APR for cash secured lines of credit which is Prime Rate + 1.25% and will vary with the market based on the Prime Rate. You may lose your Introductory APR if you make a late payment. Offer available until May 31, 2020.

2Unsecured Personal Loans fixed base rate 3.99% APR. This rate contemplates that you choose: Direct Payment for the life of the loan with an Oriental account or Direct Payment for the life of the loan from an account with another institution. Example: a $2,500 loan for 24 months at 3.99% APR will have a monthly payment of $108.55. The applicable rate is 8.99% in case the customer does not choose direct debit as payment method. Financing under the Pandemic Relief Program for unsecured loans is up to $3,500 in terms up to 24 months. Offer available until May 31, 2020.

3Subject to Oriental Bank and SBA requirements. The SBA will forgive the loans if all employees remain on the payroll for eight weeks and the money from the Paycheck Protection Program is used for payroll, rent, mortgage interest or profits (at least 75% of the forgiven amount must have been used for payroll). Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Therefore, forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease. Payroll costs are limited to $100,000 for each employee. Principal and interest payments on the loan will be deferred for six months. No collateral or personal guarantees are required. The Program will be available until June 30, 2020.

Oriental Bank. Member FDIC.

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Oriental Financial Services Corp., member FINRA/SIPC, and Oriental Bank are subsidiaries of OFG Bancorp.

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