1. When will my branch transition to Berkshire Bank?
All locations, including the Customer Service Center, will be closed starting Fri., Oct. 4, at 4:00 PM ET, and will reopen on Mon., Oct. 7, at their normal times.
2. Will my deposit account number(s) and bank routing number change?
If your account number is changing, you will receive a separate mailing that will provide you with your new account number. Effective Mon., Oct. 7, the routing number will change to 211871691 for all customers.
3. Will my loan number(s) change?
Yes. Some account numbers for loans and lines of credit will change. You will receive a separate mailing indicating your new account number. If your account number changes, the loan number will also appear on your first Berkshire Bank statement. Home equity line of credit (HELOC)
customers will receive new Berkshire Bank checks reflecting applicable account number changes.
4. Will my loan due date change?
Yes. Some dues dates for loans and lines of credit will change. You will receive a separate mailing indicating your new due date.
5. Will my direct deposit and automatic payments continue following the transition?
In order to make this transition as smooth as possible, we will be automatically alerting your employer(s) and other sources that make direct deposits into your account, as well as recipients of automatic payments of your new account number(s). You may be contacted by these individuals to confirm the change. No action is required on your part; however, you may wish to confirm this change on or after Mon., Oct. 7.
6. Will I experience any service interruptions during the ATM upgrade?
Yes. To better serve you, our ATMs will be updated during the month of September. As each ATM is updated, there will be a slight service interruption. In addition, once the updates are made, until conversion on Mon., Oct. 7, the ATMs will not be able to accept Savings Institute Bank &
Trust deposits. Please visit your local branch or berkshirebank.com/welcome-SI for a schedule of the ATM service interruptions.
7. Savings Institute Bank & Trust currently sends money from my account to pay my loan elsewhere. Will these external loan payments continue following the conversion?
No. On or after Mon., Oct. 7, deposit customers that have an external transfer to make their loan payments at another bank will need to contact the corresponding company to set their recurring payments back up.
Checks
8. Can I continue to use my existing supply of Savings Institute Bank & Trust checks, withdrawal, and deposit tickets after the transition?
Please discontinue use, shred and destroy all old Savings Institute Bank & Trust checks, and begin using your new checks on Mon., Oct. 7. For shredding services, please feel free to bring in old checks to your local branch, and the team will shred these on your behalf.
Personal Checking and Home Equity Line of Credit (HELOC)
Berkshire Bank will provide all personal checking accounts and home equity line of credit (HELOC) customers with a supply of new checks and deposit tickets.
Business Customers
Business customers with the following accounts will automatically receive a supply of new checks and deposit tickets: Business Checking, Business Relationship 1 or 2, Good for Business Checking, Interest in Business Checking, Free Business Checking, and Non-profit Interest Checking.
Business customers with the following accounts will receive a supply of deposit tickets and a discount for ordering new checks: Benefit and Benefit Plus Business Checking, Commercial Checking, Municipal, IOLTA, and Non-profit Commercial Checking.
Please note, business customers who utilize Cash Management solutions such as wires, ACH or Positive Pay will be contacted directly by our partner Superior Press about ordering their checks.
If you have not received your complimentary new checks and deposit tickets by Fri., Oct. 18, please contact Berkshire Bank at 800.773.5601. We will assist you with ordering at that time.
Please note: If you opened an account that is listed to receive complimentary checks above after Thurs., Aug. 1, your new checks will be ordered on Fri., Oct. 4. Please watch your postal mail for the slim, green checkfolio package from Harland Check Printers.
9. What if my new checks are rejected at a store?
Some retail companies utilize a third party, such as TeleCheck, to process the approval of checks. You may be required to contact TeleCheck directly to update your account number and routing number. TeleCheck may be reached at 800.366.2425 or by visiting getassistance.telecheck.com/home.html.
Overdraft Protection
10. What are my checking account overdraft protection options with Berkshire Bank?
Berkshire Bank offers overdraft protection plans, such as a link to a savings account or an overdraft line of credit, which may be less expensive than our standard overdraft services.
- If you used Savings Institute Bank & Trust’s personal checking overdraft protection with a savings or checking account, you do not need to take any action. This service will automatically continue. There is a $10.00 per transfer fee for this service.
- If you used Savings Institute Bank & Trust ‘s overdraft protection line of credit service, this service will continue, and you do not need to take any action. The rate established at Savings Institute Bank & Trust will be honored for any existing lines of credit. If you do not have this service, please contact us at 800.773.5601 on or after Mon., Oct. 7, to apply, or visit any branch location. Reddi-Cash is a personal overdraft line of credit and is subject to credit approval.
- If you are currently enrolled in Savings Institute Bank & Trust ‘s Overdraft Protection Courtesy Program, you will automatically be enrolled in Berkshire Bank’s Courtesy PaySM discretionary overdraft service. Courtesy PaySM is a discretionary service and is generally limited to a $750 overdraft (negative) balance for eligible personal checking accounts or a $1,500 overdraft (negative) balance for eligible business checking accounts.
- Generally, we do authorize and pay overdrafts for the following types of transactions:
checks, other transactions made using your account number, and automatic bill payments.
- You may opt out of Courtesy PaySM at any time.
- For more information, please refer to the Courtesy PaySM disclosure on pages 46-48. Some restrictions may apply.
11. Does Courtesy PaySM cover overdrafts on everyday debit card or ATM transactions?
TAKE ACTION: If Savings Institute Bank & Trust currently pays overdrafts on your everyday debit card and ATM transactions and you wish to continue this service, you will need to complete and bring us the form on page 49 or contact the Customer Service Center at 800.423.0142.
After Oct. 7, you may change your opt-in preference at any time through online banking, by calling us at 800.773.5601, or visiting any branch location.
Berkshire Bank pays overdrafts at its discretion, which means we DO NOT guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined or returned.
Statements
12. When will my statements be produced?
Your last Savings Institute Bank & Trust deposit statement(s) will be produced on Fri., Oct. 4, for all products except retirement accounts and will be sent to you in paper form, regardless of whether you have signed up for eStatements. Your first statement(s) will be produced on the following
schedule:
Business checking and business money markets will be produced monthly starting Thurs., Oct. 31.
- Personal checking statements will be produced monthly starting Mon., Nov. 4.
- Statement savings and personal money market statements are produced quarterly.
- Certificate of deposit statements are not produced but can be reviewed in online banking.
- IRA statements are produced twice a year.
- Commercial, mortgage and installment loan statements will be produced 13 calendar days before the due date, excluding bank holidays.
- Home Equity Line of Credit statements will continue to be produced at the end of the month.
- Home Equity Line of Credit and overdraft protection lines will produce an activity statement for Tues., Oct. 1, through Fri., Oct. 4. This is not a bill. The payment statement will be produced at the end of October by Berkshire Bank. The Berkshire statement will not show the activity from Oct. 1 through Oct. 4 but will bill for any advances from those days.
Reminder: ALL account activity is provided to you with 24/7 access via online banking.
13. What if I have a seasonal address?
Berkshire Bank will utilize the primary address on your Savings Institute Bank & Trust account. Changes to your mailing address for seasonal purposes will require reinstatement with Berkshire Bank after Mon., Oct. 7. Changes to your seasonal address will require notification to Berkshire
Bank on an annual basis.
14. Will I be able to access my new Berkshire Bank statements and notices electronically following the transition?
Yes. We are pleased to offer free eStatements and notices with all our accounts. If you are an existing eStatement customer, your service will continue with your new Berkshire Bank statements. If you'd like to enroll in eStatements, please:
- Log in to online banking at berkshirebank.com on or after Mon., Oct. 7.
- Click on <Accounts/Online Documents>.
- Select <change document delivery method>.
- Use the drop-down boxes to update your delivery to <online> for each Berkshire Bank account.
Berkshire Bank eStatements will archive up to 18 months of activity going forward.
15. Will I still be able to access my Savings Institute Bank & Trust online banking statements after the conversion?
No. Please download any account statements and/or cleared check images online before Fri., Oct. 4, at 5:00 PM ET. Online banking and bill pay will no longer be available after Fri., Oct. 4, at 5:00 PM ET.
16. Can I receive check images with my Berkshire Bank paper statements?
Berkshire Bank provides check images with paper statements for a fee of $3.50 per month. Check images are provided at no cost with monthly eStatements.
Debit Cards
17. Will I receive a new debit card?
Yes. If you are an existing Savings Institute Bank & Trust debit card holder and have used your card in the last six months, you will be mailed a Berkshire Bank Mastercard™ debit card on Thurs., Sept. 18. You will receive your new personal identification number (PIN) in a separate mailing, sent on Fri., Sept. 20. Please watch your mail for these two separate mailings. After Mon., Oct. 7, all branches will have the ability to provide
instant-issue debit cards.
18. When may I start using my new debit card?
Start using your new debit card after 6:00 PM ET on Wed., Oct. 2.
To activate your new card, make a PIN-based merchant transaction or perform a withdrawal at any Berkshire or Savings Institute Bank & Trust or NYCE® ATM. If you prefer, you can activate your card by calling 888.685.8300. Have your PIN ready and choose option 6, and then press 2 to
activate your card.
19. How long may I continue to use my current Savings Institute Bank & Trust debit card?
You may use your current Savings Institute Bank & Trust card until Thurs., Oct. 3, at 5:00 AM ET. For security purposes, please destroy your Savings Institute Bank & Trust card after this time. If you haven’t used your Savings Institute Bank & Trust debit card in the last six months, your card is
considered inactive and will not convert.
20. Will I be able to check my account balance at an ATM during the conversion?
No. The balance inquiry feature for converting accounts will be unavailable from Wed., Oct. 2, at 6:00 PM EST to Mon., Oct. 7, at 7:00 AM EST.
21. What should I do if I don’t receive a new debit card by Mon., Oct. 7?
Please visit any Savings Institute Bank & Trust or Berkshire Bank location to request an instantissue debit card, or call us at 800.423.0142, and we will order one for you.
22. What if I have recurring payments set up with merchants using my current Savings Institute Bank & Trust debit card?
After Wed., Oct. 2, if you have any recurring payments previously set up with a merchant(s) using your current Savings Institute Bank & Trust card number, you will need to provide your new debit card number and expiration date to the merchant(s).
23. Does Berkshire Bank offer debit card transaction monitoring and fraud protection?
Yes. We provide additional security monitoring for out-of-the-ordinary transactions via the Card Controls feature on Berkshire Bank’s mobile apps.
If you will be using your debit card while traveling or are planning any out-of-the-ordinary purchases, please utilize the Card Controls feature on Berkshire Bank’s mobile apps or contact our Customer Care Center at 800.773.5601, weekdays between 7:00 AM and 7:00 PM, or Saturday between 8:30 AM and 2:00 PM ET.
We will provide this information to our Fraud Prevention Services team in order to prevent your card from being blocked due to out-of-the-ordinary transactions. If your card is flagged by our Fraud Prevention Services team, we will try to contact you via text, email, or phone; it is important that your updated contact information is on file with us at all times.
Reminder: Debit card alerts are available for online banking customers.
24. Does Berkshire Bank offer Apple Pay®, Samsung Pay, and Google Pay?
Yes. You can use an eligible debit or credit card with Apple Pay®, Samsung Pay, and Google Pay for merchants who accept contactless payments and in participating merchant apps wherever they are accepted. Please note, if you are a current Apple Pay®, Samsung Pay, and/or Google Pay
user, you will need to update your debit card information with the service.
25. Does Berkshire offer a debit card rewards program?
Yes. We offer an exciting benefit for personal debit cardholders: Score More Rewards. You can earn cash back for shopping at select national, regional, and local retailers. No fees or enrollment is required. To access, log in to online banking to view your reward offers, select your offer, and
use your Berkshire Bank debit card at the retailer.
Online Banking, Bill Pay, Mobile & Telephone Banking
(If you utilize Cash Management solutions such as wires, ACH or Positive Pay, please see CORPORATE ONLINE BANKING on pages 17-18.)
26. How will I access my online banking after the transition to Berkshire Bank?
Starting Mon., Oct. 7, at 9:00 AM ET, if you are an active Savings Institute Bank & Trust online banking customer, you may access Personal and Small Business online banking at berkshirebank.com. If you are a business customer with Cash Management solutions such as wires, ACH or Positive Pay, please refer to the Corporate Online Banking section on page 17.
27. How do I log in to Personal and Small Business online banking for the first time?
The first time you log in to online banking, enter your current Savings Institute Bank & Trust user ID using all lowercase letters. Your temporary Berkshire Bank password will be the last 4 digits of your Social Security number or tax ID. The temporary password is good for 60 days; please log in to online banking prior to Fri., Dec. 6.
You will be prompted to change this password on the next screen and to accept Berkshire Bank’s terms and conditions. A security alert will be sent when you change this temporary password.
You will be asked to validate your identity through a one-time security code via a telephone call or text message.
28. How will my transfers convert in online banking?
Recurring transfers that you had previously set up in online banking between accounts at Savings Institute Bank & Trust that you own will convert. "Unlinked transfers" (transfers set up between your account and another at Savings Institute of which you are not an owner on) will not convert. In addition, transfers set up between Savings Institute and another financial institution will convert.
29. Is there anything I will need to do to ensure a smooth transition for my Personal and Small Business online banking?
Yes. Before Fri., Oct. 4, please:
- Log in to your Savings Institute Bank & Trust online banking account to keep your profile active.
- Download Savings Institute Bank & Trust statements and check images.
- Visit berkshirebank.com to view an online banking demo.
After Mon., Oct. 7, please:
- Establish security alerts, such as a low balance reminder and/or debit card alerts.
- Establish any account nicknames.
- Verify all scheduled and recurring transfers.
- Enroll in mobile banking after successfully logging in to online banking via the URL.
30. What do I need to know about Berkshire Bank’s Personal and Small Business online banking?
If you have not logged in to Savings Institute Bank & Trust’s online banking system within the last six months, please do so now to allow your information to convert to Berkshire Bank.
Running balances will appear starting Wed., Oct. 9.
31. Should I update my contact information prior to conversion weekend?
Yes. Your current phone number(s) and email address are important when it comes to the security of your online banking service and our ability to reach you.
Important: If you have only a mobile phone and not a home phone, please be sure to enter the mobile number in BOTH the home and mobile fields.
32. What do I need to know about Berkshire Bank’s bill pay?
Current Savings Institute Bank & Trust bill pay customers with active payees will convert to Berkshire Bank’s bill pay system.
- Berkshire Bank’s bill pay cutoff time is 4:00 PM ET.
- Checking and money market accounts are available for use with bill pay.
- Savings accounts are not available for use with bill pay.
- Your bill pay limits will be $9,999.99 per transaction and $20,000.00 per day.
33. Will my current online banking bill pay account and payee information transfer?
Yes. We will transfer your current Savings Institute Bank & Trust bill pay account and payee information to Berkshire Bank.
34. Is online bill pay “due date” driven or “schedule date” driven?
Berkshire Bank is a due date–driven online banking bill pay provider. This means the date you select for your payment will be the earliest date that we guarantee your payment will arrive to your payee.
Berkshire Bank will withdraw the funds from the account on the date that you have selected as the due date electronically via the Automated Clearing House (ACH), which is also the date that the payee will receive payment. If a check is created to make the payment on your behalf, the
funds will be withdrawn from your account on the date the cashed check from the payee reaches Berkshire Bank.
35. What do I need to do if I use Quicken® or QuickBooks®?
Before Fri., Oct. 4, you will need to download your Savings Institute Bank & Trust transaction history.
Starting Mon., Oct. 7, activate Berkshire Bank as your new financial institution.
36. Does Berkshire Bank offer telephone banking?
Yes. Starting at 8:30 AM on Mon., Oct. 7, telephone banking will be available by calling 888.685.8300 from any touch-tone or mobile phone.
The first time you use the telephone banking system, your PIN will be the last four digits of the primary account holder’s Social Security number (SSN) or business taxpayer identification number (TIN). The primary account holder is the first person listed on your accounts.
You will need to change your PIN by following the voice prompts. For security, every account number will require a PIN. Please communicate your selected PIN to other authorized account users.
37. Does Berkshire Bank offer mobile banking?
Yes. Starting Mon., Oct. 7, you can download our Android or iPhone app. Simply search “Berkshire Bank” to find the app. If you are a Cash
Management customer who uses wires, ACH, or Positive Pay, please refer to the Corporate Online Banking section below.
The mobile deposit cutoff time is 5:00 PM ET. Please refer to the mobile banking terms and conditions for further details.
38. Does Berkshire Bank have online account opening?
Yes. You can open a variety of accounts online at berkshirebank.com. Any account not listed online can only be opened in a branch.
Corporate Online Banking
(Business users who utilize Cash Management solutions such as wires, ACH or Positive Pay)
39. When is the Corporate online banking preview period?
This special non-transactional preview period is available from Mon., Sept. 23, to Fri., Oct. 4, so that you can familiarize yourself with Berkshire’s Corporate online banking.
During the preview period, log in to Berkshire’s Corporate online banking preview using your new login credentials at
berkshirebank.ebanking-services.com to:
- Update your contact information (you will be prompted).
- Verify your accounts and entitle sub-users.
- Introduce users to the Berkshire Bank services.
- Verify your ACH and wire templates.
40. How do I log in to Corporate online banking?
If you are a Cash Management customer, you will receive two communications by Sept. 23. If you do not receive them by this date, please contact Electronic Banking Support at 800.773.5601.
41. Is there anything else I will need to do to ensure a smooth transition for my Corporate online banking?
Yes. Before Fri., Oct. 4, please:
- Download Savings Institute Bank & Trust statements and check images.
- Verify established Savings Institute Bank & Trust ACH and wire templates converted to Bekshire Bank.
- Use the preview period to familiarize yourself with Berkshire’s Corporate online banking and set up authorizations for your sub-users.
42. What do I need to know about Berkshire Bank’s Corporate online bill pay?
Our bill pay system allows you to pay bills as needed or schedule recurring automatic payments on a weekly, biweekly, or monthly basis, including invoices.
Berkshire Bank is a due date–driven online banking bill pay provider. This means the date you select for your payment will be the earliest date that we guarantee your payment will arrive to your payee.
- Berkshire Bank will withdraw the funds from the account on the date that you have selected as the due date electronically via the Automated Clearing House (ACH), which is also the date that the payee will receive payment.
- If a check is created to make the payment on your behalf, the funds will be withdrawn from your account on the date the cashed check from the payee reaches Berkshire Bank.
43. As a Corporate online banking user, will I still be able to initiate ACH and wires?
Yes. If you are a current ACH and wire online Corporate banking user, please use the preview period (non-transactional) to verify and update your ACH and wire templates. If you have any questions, please contact our Electronic Banking team at 888.413.1743.
As an extra layer of security, you will have multiple approval levels available if you are initiating ACH and wires.
44. What do I need to know about Berkshire Bank’s remote deposit for businesses?
If you are a current remote deposit customer, you will be contacted by Berkshire Bank’s remote deposit team to complete installation and training. We will start converting customers a few days prior to conversion weekend and continue through the following week.
Deposit files are processed three times a day at 11:00 AM ET, 1:00 PM ET, and 5:00 PM ET. Regardless of delivery and processing time, the funds are available the next business day. Berkshire Bank is a five-day-a-week processor, so while deposits can be made 24 hours a day, seven days a week, any deposit completed after 5:00 PM ET will not be processed and posted until the next business day. Deposits made after 5:00 PM ET on Friday will not be processed and posted until Monday. Customers are responsible for keeping deposited checks in a locked, secure area and then securely shredding after 30 days.
45. Does Berkshire Bank offer business mobile banking?
Yes. Starting Mon., Oct. 7, you can download our Android or iPhone app. Simply search “Berkshire MoneyMobile” to find the app.
46. What do I need to do if I use QuickBooks®?
Before Fri., Oct. 4, you will need to download your Savings Institute Bank & Trust transaction history.
Starting Mon., Oct. 7, activate Berkshire Bank as your new financial institution.
Consumer, Auto, Mortgage, Home Equity, Commercial & Business Loans
47. Will my current Savings Institute Bank & Trust loans and lines of credit convert to Berkshire Bank loans and lines of credit?
Yes. The terms and conditions expressed in your current loan documents, including the interest rate, will remain the same.
48. Will my loan number change?
Yes. Some account numbers for loans and lines of credit will change. You will receive a separate mailing indicating the new account number. If your account number changes, the loan number will appear on your first Berkshire Bank bill. Home equity line of credit (HELOC) customers will receive new Berkshire Bank checks.
Please see important information in question 5 on page 8 about automatic payments if your account number changes.
49. How do I make my loan payments?
Please continue to remit your loan payments as you have in the past until Fri., Oct. 4. Automatic payments from Savings Institute Bank & Trust deposit accounts will convert and continue as usual. On Mon., Oct. 7, begin mailing payments to us at:
Berkshire Bank — Payment Processing — P.O. Box 4129 — Woburn, MA 01888-4129
You may also set up automatic payments in online banking or utilize Berkshire Bank’s online payment platform found at “Pay My Loan” on our website at berkshirebank.com.
If you have a payment coming from another institution, please contact that institution to update your loan account and routing number. Please be sure to indicate your entire loan account number when sending in payments.
50. Will I continue to receive a loan payment notice?
Yes. You will receive a monthly payment notice for your loan, line of credit, or overdraft protection.
In addition, beginning Mon., Oct. 7, according to your current billing schedule, billing statement notices will be sent to you by Berkshire Bank and will have a new look.
If you have your payment deducted electronically from your Savings Institute Bank & Trust checking or savings account, the payments will continue to be deducted from that same account after the conversion. This will occur automatically, with no interruption in your payment schedule.
If your payment is deducted from another financial institution, please contact that institution with your loan account number and Berkshire Bank’s routing number, 211871691, or contact our loan servicing team at 800.773.5601, ext. 138564, to establish a Berkshire Bank-initiated ACH or automatic payment.
52. How do I contact Berkshire Bank regarding my existing mortgage, home equity, or consumer loan?
For questions related to loan billing, payments, or general loan servicing, please contact loan servicing by phone at 800.773.5601, ext. 138564, or by email at retailloanservicing@berkshirebank.com.
The new mailing address for loan correspondence after Fri., Oct. 4, will be
Berkshire Bank
Retail Loan Servicing
P.O. Box 1308
Pittsfield, MA 01201-1308
Home equity line of credit customers will receive new checks from Berkshire Bank. If you have not received them, or need to order additional checks, please contact loan servicing.
53. How do I contact Berkshire Bank regarding a new mortgage, home equity, or consumer loan application?
For questions regarding a new or pending home equity or consumer loan, please contact your local branch.
You’re welcome to apply for a new mortgage or consumer loan on our website, berkshirebank.com. In the "Personal section" there are links for each loan type containing information and applications.
For more information on mortgages, refinances, or construction loans, please contact Gene Michael Deary, SVP Home Lending, at 860.208.8763 or gdeary@berkshirebank.com.
54. How do I contact Berkshire Bank regarding my commercial or business loan?
For all commercial loans, please direct any questions to your relationship manager, business banker, or portfolio manager.
You may also contact us at 800.773.5601, ext. 6010, and follow the prompts to be directed to our Commercial and Business loan department for any questions related to billing, auto pay, or general loan servicing.
Other Services
55. Will the terms and rates of my certificates of deposit (CDs) and my individual retirement account (IRA) change?
All rates, terms, and conditions of your CDs and IRA CDs will remain the same until their maturity dates. Prior to all maturity dates, a maturity reminder notice will be mailed to you. If you choose to transfer your IRA to another institution, a $50.00 IRA transfer fee applies.
56. Will my IRA tax withholding from my IRA distribution(s) continue?
Yes. Your election for federal and state tax withholding from your IRA distribution(s) will continue All auto-distribution arrangements will continue without interruption according to your instructions.
57. Will safe deposit box services be available over the conversion weekend?
No. Access to safe deposit boxes will be unavailable while the branches are closed; branches will open Mon., Oct. 7, at normal times. You may be asked to read and accept the Berkshire Bank safe deposit contract the next time you access your box.
58. What are Berkshire Bank’s incoming wire instructions?
Domestic and international receiving wires will need to be reestablished using Berkshire Bank’s swift code and routing number:
Incoming domestic wire instructions:
ABA#: 211871691
Beneficiary Bank: Berkshire Bank
Beneficiary Account: Customer’s Account Number
Beneficiary Name: Customer’s Name
Beneficiary Address: Customer’s Address
Incoming international wire instructions:
:57A: //FW211871691
BERKUS33
:59A: /Customer's Account Number, Customer's Name, Customer's Address
59. How will my Federal Deposit Insurance Corporation (FDIC) insurance be affected?
Following the merger, your deposit accounts will be insured by the FDIC up to a total of $250,000, with higher coverage amounts available under certain circumstances, depending on account ownership structuring and other factors. Deposit customers who have accounts at both Savings Institute Bank & Trust and Berkshire Bank on the merger date will continue to benefit from separate FDIC insurance coverage for six months from the date of the merger. Savings Institute Bank & Trust customers with certificate of deposit (CD) accounts will continue to receive separate FDIC insurance coverage until the CD account’s first maturity date following the six-month period after the merger, up to a total of $250,000. For CD accounts maturing within the six-month period after the merger, separate coverage will extend to the next maturity date if the CD is renewed for the same duration (term) and dollar amount, including any interest added to the principal; if the CD is renewed for a different dollar amount or term, the separate coverage benefit will terminate at the end of the six-month period after the merger.
We encourage you to review the FDIC detailed explanations of coverage online at fdic.gov/deposit. Further information can also be obtained by contacting the FDIC central call center at 877.ASK.FDIC or 877.275.3342. If you have any questions, please call or visit your nearest Savings Institute Bank & Trust or Berkshire Bank branch, and we will be pleased to assist you in maximizing FDIC coverage of your deposit accounts.
60. Does Berkshire Bank offer credit cards?
Yes. Berkshire Bank offers personal and business credits cards, including rewards cards that earn points on every purchase, to pay down your balances on other credit cards faster or to save on interest. Whatever your needs, we have a credit card that’s right for you (subject to credit approval).
61. What will happen to my current Savings Institute Bank & Trust credit card?
Your Savings Institute Bank & Trust credit card will continue as normal until it is reissued at its expiration date. At that time, your credit card will be issued as a Berkshire Bank credit card.
62. Does Berkshire Bank offer life insurance?
Yes. As a Berkshire Bank customer, you now have access to Berkshire Insurance Group*, a Berkshire Bank affiliate, for all your personal and business insurance needs, including life insurance as well as home, auto, and property, among others. For Connecticut customers, we have partnered with Hanover Insurance to offer the Berkshire Advantage, which includes special discounts and added protection.
We invite you to experience the Berkshire Insurance Group* difference to save you time and money. Contact us at 866.636.0244 for a no-obligation insurance review to take advantage of this opportunity.
63. What will happen to my current life insurance that I purchased through Savings Institute Bank & Trust’s partnership with Vantis Life?
For any questions regarding your Vantis Life insurance policy, please contact Vantis Life directly at 866.826.8471 or by visiting vantislife.com. Keep in mind, Berkshire Insurance Group* offers competitive insurance solutions to help you reach your goals. We’d appreciate the chance to review your current life insurance and other insurance needs. For a no-obligation review, contact us at 866.636.0244.
64. Does Berkshire Bank offer mortgages, investments, private banking, and wealth management services?
Yes. Our teams of exemplary professionals have a proven track record of excellence in client service – dedicated to your unique needs and personal philosophy.
- For more information on mortgages, refinances, or construction loans, please contact Gene Michael Deary, SVP Home Lending, at 860.208.8763 or gdeary@berkshirebank.com.
- For more information on investment services**, contact Kevin O’Donnell, VP, BerkshireBanc Investments, at 413.236.3166 or kevinodonnell@cfnmail.com.
- For more information on private banking services, contact Susan DiPinto, SVP, at 508.375.5919 or sdipinto@berkshirebank.com.
- For more information on wealth management* services, contact Donald Bisson, VP Senior Wealth Portfolio Manager at 617.807.8187 ext. 131964 or dbisson@berkshirebank.com.