Latest Update: Oxford Bank is a MiMortgage Relief Partner
April 23, 2020
Oxford Bank is a MiMortgage Relief Partner
Do you have a loan through Oxford Bank and are experiencing hardship as a result of the COVID-19 crisis? If yes, we are here to help you in this time of uncertainty.
Call the Oxford Bank COVID-19 Hotline at (248) 969-7220, and talk with one of our experienced team members about your difficulties. By taking action now, we can help you avoid late fees or credit issues in the future.
As a part of the MiMortgage Relief program announced by the State of Michigan, we have pledged to assist our customers and may do the following to help:
- We may not start any new foreclosures for 60 days.
- We may defer your loan payments for up to 90 days. Deferred payments will be added to the end of your loan.
- We may not charge late fees.
- Deferred payments may not be reported as late to credit agencies.
If you feel you are in a hardship situation and can benefit from the statements described above, please call our COVID-19 Hotline at (248) 969-7220, so we can start helping you today.
For more information on COVID-19 related mortgage relief from the State of Michigan, see: www.michigan.gov/MiMortgageRelief
(Note: For loans Oxford Bank services that are owned by the FHLBi, we must defer to the FHLBi for payment deferrals.)
April 16, 2020
A guide to COVID-19 economic stimulus relief as published by the Consumer Financial Protection Bureau (CFPB) - click here
April 10, 2020
Cyber Scams: Don't be fooled
The U.S. Secret Service is anticipating an increase in attempted cyber-enabled frauds throughout the time of this pandemic, and in the months and years to follow.
Scammers have already concocted numerous methods for defrauding the public in connection with COVID-19. We are receiving increasing reports of criminals setting up fraudulent websites and posing as healthcare workers to defraud the public seeking treatment for COVID-19. As businesses increase their telework, we are seeing a rise in phishing emails and business email compromises.
Some examples of frauds linked to COVID-19 include:
Treatment scams: Scammers are offering to sell fake cures, vaccines, and advice on unproven treatments for COVID-19. There are currently NONE known at this time.
Supply scams: Scammers are creating fake shops, websites, social media accounts, and email addresses claiming to sell medical supplies currently in high demand, such as surgical masks. When consumers attempt to purchase supplies through these channels, fraudsters pocket the money and never provide the promised supplies. Purchase goods from KNOWN etailers or retailers ONLY.
Provider scams: Scammers are also contacting people by phone and email, pretending to be doctors and hospitals that have treated a friend or relative for COVID-19, and demanding payment for that treatment. Just HANG UP.
Charity scams: Scammers are soliciting donations for individuals, groups, and areas affected by COVID-19. Work with your employer or give to KNOWN charities ONLY.
Phishing scams: Scammers posing as national and global health authorities, including the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC), are sending phishing emails designed to trick recipients into downloading malware or providing personal identifying and financial information. DO NOT OPEN or CLICK ON links is emails. Go directly to the site.
App scams: Scammers are also creating and manipulating mobile apps designed to track the spread of COVID-19 to insert malware that will compromise users’ devices and personal information. Do not install new apps at this time. Use reputable news sources/sites ONLY
Investment scams: Scammers are offering online promotions on various platforms, including social media, claiming that the products or services of publicly traded companies can prevent, detect, or cure COVID-19, and that the stock of these companies will dramatically increase in value as a result. These promotions are often styled as “research reports,” make predictions of a specific “target price,” and relate to microcap stocks, or low-priced stocks issued by the smallest of companies with limited publicly available information. Just don’t. There are NO cures, the stock markets are very volatile, and there are NO guarantees on any returns.
Fraudulent “stimulus’ checks are already in circulation. The IRS is using direct deposit based on previous tax returns and mailing checks ONLY when direct deposit isn’t an option. DO NOT deposits checks from any other source other than the US Treasury from the IRS.
March 18, 2020
Dear Valued Customer:
At Oxford Bank, we continue to monitor the coronavirus (COVID-19) outbreak and want you to know that the safety and security of our customers, team members and the communities we serve is our top priority. We are taking the advice of the officials monitoring the global situation and have designed a plan of action which includes maintaining a healthy environment for our team members and ensuring we can meet your banking needs without interruption.
Below are some of the steps we have taken:
Monitoring: We continue to monitor the outbreak closely and are following the latest guidelines from local and federal health authorities, including the Center for Disease Control (CDC).
Branch and Remote Access: Beginning Friday, March 20, 2020, and until further notice, all Oxford Bank branch lobbies will operate by appointment only, and only for services that cannot be completed through our Interactive Teller Machines (ITM), mobile app or oxfordbank.com, like accessing your safe deposit box. Our digital platforms are equipped to handle your banking needs from any computer or mobile device, allowing you to manage your accounts easily and conveniently from anywhere at any time. Our friendly ITM team members can handle 95% of your banking needs quickly and efficiently.
The decision to bank with minimal personal interactions supports our social distancing commitment to overcome this pandemic. However, if you require an appointment at any of our Oxford Bank branches, please call (248) 628-2533.
Lobby and Interactive Teller Machine (ITM) Hours:
- Bank lobbies are open by appointment only Monday - Friday 8:30 a.m. - 4 p.m.
- ITM hours are Monday - Friday 7 a.m. - 8 p.m., Saturday 7 a.m. - 5 p.m.
Informing: Our team members are informed of the latest precautionary measures to ensure our branches and offices remain safe for everyone. As new developments emerge, we share the information with our team members, customers and communities on how we continue our operations in a safe and effective manner.
Protecting your Privacy: Unfortunately, times like this leave many of us vulnerable to online scams. Various hacking groups are trying to take advantage of the high volume of communication circling around. It is highly unlikely that the CDC will send you an email, text, or call with information about COVID-19 updates. Avoid these at all costs. Additionally, Oxford Bank will never send you unsolicited emails or text messages asking for confidential information, such as your password, PIN, Access Code, credit card and account numbers.
Here are some tips that may help protect you from online scams.
- Do not click on links from unknown or suspicious sources
- Do not give out your banking login credentials
- Ignore and delete emails/texts regarding COVID-19 vaccinations; claiming to raise money for COVID-19 victims; or asking to download software to assist in finding a “cure”
Basic Protective Measures
- Wash our hands frequently
- Maintain safe social distance (6-feet) between you and anyone who is coughing or sneezing
- Avoid touching eyes, nose and mouth
- Cover your nose and mouth with your inner elbow while coughing or sneezing
- If you feel unwell, stay home and self-quarantine
- Stay informed from legitimate sources like the CDC
Protecting Your Money: Please be assured your money is FDIC insured, available and safe with us.
We are here to help. We remain fully committed to serving you and meeting your banking needs. We must all do our part to slow the spread of COVID-19, mitigating the risk of illness for you and our team members. Thank you for continuing to trust us with your banking needs.