Financial Resources for Washington Residents Impacted by COVID-19

(En español)

The Washington State Department of Financial Institutions has developed a list of financial resources for Washington consumers impacted by the Coronavirus. We will add to this list as more resources become available.

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Financial Institutions Remain Open

While the COVID-19 outbreak has closed many businesses, your local banks and credit unions remain committed to providing access to banking services.

As social distancing has been implemented across our state, here are some things to consider:

  • You can likely meet most, if not all, of your banking obligations without leaving your home as online, mobile and phone banking services are available. Many services are likely available 24/7 on your financial institution’s website or mobile app including: balance inquiries, transfers, loan payments, mobile check deposits, and transaction inquiries.
  • While many financial institutions have restricted access to their lobbies, you can access Drive-Thru teller services, Interactive Teller Machines (ITMs) or Automated Teller Machines (ATMs).
  • For branch services that require access to the banking facility, like safety deposit box retrieval, many financial institutions are providing these services on an appointment basis.
  • Before you head to your financial institution, visit their website or call to find information about hours, customer/member assistance, and current operations. You’ll also see other precautions your financial institution is taking to keep you and their employees as safe as possible.
  • Please keep in mind, there is no need to take out large amounts of cash to add to your existing emergency funds. Washington’s financial institutions have access to ample amounts of cash to accommodate residents’ continued daily needs.

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Deposits Are Safe In Federally Insured Banks and Credit Unions

Federally insured banks and credit unions offer a safe place for members to save money. All deposits at federally insured banks and credit unions are up to at least $250,000 per individual depositor. For more information visit www.fdic.gov for federally insured banks, or www.ncua.gov for federally insured credit unions.

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Unemployment Assistance

If you are out of work, Washington State's Employment Security Department provides support services to individuals affected by COVID-19 in Washington.

The Employment Security Department has adopted a series of emergency rules to relieve the burden of temporary layoffs, isolation and quarantine for workers and businesses.

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Trouble Paying Credit Cards

If you have seen a reduction in pay due to COVID-19 and are struggling to make your credit card or loan payments, contact your lender right away. Explain your situation and ask about hardship programs that may be available. Regulatory agencies have encouraged financial institutions to work with customers impacted by the coronavirus.

Credit card companies and lenders may be able to offer you a number of options to help you. This could include waiving certain fees like ATM, overpayments, and late fees, as well as allowing you to delay, adjust, or skip some payments.

Additional Resources:

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Trouble Paying Your Mortgage

If you do not have enough money in savings to cover your mortgage payment or rent, contact your lender or landlord immediately.

Don’t wait until you’re behind on payments. Lenders may work with you to waive late fees, set up a repayment plan or offer loan forbearance.

You can also contact the Washington Homeownership Hotline at 1.877.894.HOME for more information and assistance.

Additional Resources:

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Trouble Paying Rent

If you are unable to make your full rent payment, contact your landlord immediately and try to work out an agreement. The Department of Housing and Urban Development offers counseling from organizations that can help help you make the right decisions and point you towards the right resources.


On 03/18/2020, Governor Jay Inslee enacted a statewide moratorium on evictions of residential tenants for 30 days.

Additional Resources:

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Paying Student Loans

If you’re having trouble making payments, contact your loan servicer as soon as possible. If you have a Federal Perkins Loan, contact your school. You can easily avoid the consequences of delinquency or default by staying in touch with your servicer or school.

Your servicer or school can provide information about deferment or forbearance options that allow you to temporarily stop making payments on your loans. You may also be able to change to a different repayment plan that would give you a lower monthly payment.

Additional Resources:

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Short Term and Emergency Loans

Consider your options before taking out a high cost short term loan. Talk with your creditors to negotiate more time to pay bills, borrow from friends or family, or explore low interest loans offered by local banks and credit unions.

If you do take out a short term loan, make sure the lender is licensed with the Washington State Department of Financial Institutions and borrow only what you can afford to pay back.

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Utilities Assistance

Governor Jay Inslee has called on all public utilities in Washington state to ensure the health and safety of their employees and the public by suspending disconnection tariffs for nonpayment during this emergency; waiving late fees for customers who are out of work or offering customers payment plans; and expanding bill assistance programs for customers who are economically impacted by this emergency. Many utility companies are already doing this. For assistance, contact your utility company.

Utility COVID-19 response pages:

Additional Resources:

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Insurance Issues

The Washington State Office of the Insurance Commissioner has resources and information available for consumers who have insurance related questions.

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Small Business Assistance and Loans

Help and assistance for small businesses is available from the local and federal government.
  • Small Business Disaster Loan Assistance Program
    The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Washington small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19)
  • $5 Million in Small Grants from Governor's Strategic Funds
    Up to $5 million of the Governor’s Strategic Reserve Funds will be made available as small grants to small businesses across the state to help prevent closure due to COVID-19. The state Department of Commerce will coordinate an application process.
  • City of Seattle Small Business Stabilization Fund
    Approximately $2.5 million is available for the City of Seattle Small Business Stabilization Fund, an emergency fund that provides working capital grants in amounts up to $10,000 to qualifying small businesses. Eligibility criteria and how to apply is here: seattle.gov/office-of-economic-development/small-business/small-business-programs-/stabilization-fund-

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Avoiding Scams

Consumers should be on alert for increased fraud during the COVID-19 outbreak. Consumers should be vigilant about protecting their finances and should not share financial or other sensitive information with anyone who contacts you unsolicited.

Here are some tips to help you keep the scammers at bay:

  • Your bank or credit union should not ask for you financial account details via email. If you receive an email, contact your bank or credit union with the contact information listed on their website.
  • Don’t click on links from sources you don’t know. They could download viruses onto your computer or device.
  • Watch for emails claiming to be from the Centers for Disease Control and Prevention (CDC) or experts saying that have information about the virus. For the most up-to-date information about the Coronavirus, visit the Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO).
  • Ignore online offers for vaccinations. There currently are no vaccines, pills, potions, lotions, lozenges or other prescription or over-the-counter products available to treat or cure Coronavirus disease 2019 (COVID-19) — online or in stores.
  • Do your homework when it comes to donations, whether through charities or crowdfunding sites. Don’t let anyone rush you into making a donation. If someone wants donations in cash, by gift card, or by wiring money, don’t do it.​

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Additional Resources

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