Help for Our Clients Who Were Impacted During the Government Shutdown

Help may be available to you if you’re an employee or contractor of the federal government, if you receive certain federal benefits, or if you are a member of the military. If you’re experiencing delays in receiving your paycheck, you may be eligible for fee waivers and/or credit card and loan payment assistance programs.

• Everyday Banking: Your KeyBank checking, savings, and digital banking services remain fully operational. The Federal Reserve is expected to continue to function normally, ensuring uninterrupted check clearing, wire transfers, and foreign currency processing.
   
• Deposit Insurance: Your deposits continue to remain safe and insured by the FDIC, just as they are during normal government operations. The FDIC insures deposits up to the standard insurance amount, providing you with the same protection and security.

• Social Security Payments: While ongoing Social Security payments are expected to continue uninterrupted, the processing of new claims and the issuance of new cards may be delayed until the government resumes full operations following the shutdown. If you have any questions, please visit the Social Security Administrations website.
   
• Lending:
  Mortgages and Home Lending:
  • Delays in Loan Processing: Many mortgage loans require documentation, verification, or services from federal agencies such as the IRS, FHA, VA, or Social Security Administration. Although these agencies are now fully operational following the government shutdown, there may still be delays in obtaining transcripts and verifications.
     
  • Federal Employee Income Verification: If you are a federal employee or rely on income from federal sources, the ability to verify your employment or income may be affected.
     
  • Flood Insurance: Although the National Flood Insurance Program is now operational following the government shutdown, some delays may still occur for mortgage originations involving properties in flood zones. We're working closely with affected clients to minimize these disruptions and expedite processing where possible.
    
    Please contact the following agencies if you have specific questions or need more information:
    • Department of Housing and Urban Development
    • Veterans Affairs
    • National Flood Insurance Program
    • Department of Agriculture
  
  
  • Small Business: SBA loan approvals are now proceeding as usual following the government shutdown. Our SBA Credit and Closing Teams have continued to underwrite and process your SBA loans throughout this period and are ready to finalize them. Please contact your SBA Specialist for more information on the status of your loan.
     
  • Student Loans: Please contact the following agencies with specific questions or for more information.
    U.S. Department of Education
    Federal Student Aid