Minnesota Banks Deemed Essential and Remain Open for Consumers

March 25, 2020  Today Governor Walz issued Emergency Executive Order 20-20: Directing Minnesotans to Stay at Home. This order states beginning on Friday, March 27, 2020 at 11:59 pm through Friday, April 10, 2020 at 5:00 pm, all persons currently living within the State of Minnesota are ordered to stay at home or in their place of residence unless absolutely necessary. This order requires nonessential businesses to shut down their operations or require the employees to work from home.  In this order, Minnesota generally followed the Department of Homeland Security’s Guidelines and definitions on critical infrastructure. Banks were designated as critical in the federal guidelines, and they are considered essential in the Governor’s order. 

Minnesota’s banks are dedicated to serving their communities and ensuring families and businesses have continued access to important financial services. Banks are open for business and they remain ready to meet the financial needs of their customers.  

Minnesota bankers want to help ensure the health and safety of both their employees and their customers during this pandemic. Therefore, banks may adjust their delivery channels, such as by offering shorter business hours in their lobbies and encouraging the use of their drive thru locations. They also strongly recommend that consumers take advantage of self-service banking and 24/7 account access through mobile, online, and other electronic banking services to the extent that they are able. 

Bankers understand that the COVID-19 pandemic will have significant economic impacts on both families and businesses. Banks routinely work with customers who are experiencing difficult or unexpected financial challenges. That support will continue. Bankers stand ready to assist those who need help. If you find yourself in that situation, the first and most important step is to contact your bank to explore your options. 

We are all in this together. Consumers and small business owners can rest assured, knowing that during this challenging time, Minnesota’s banks remain the safest place for their money and the best option for meeting their financial needs.