Coronavirus Response
Our lobbies are now open again, but, for your safety and ours, we require visitors to wear masks upon entering our buildings. Thank you.
Banks remain essential services and we are available to help.
Coronavirus Response
Our lobbies are now open again, but, for your safety and ours, we require visitors to wear masks upon entering our buildings. Thank you.
Banks remain essential services and we are available to help.
We Are Available
As much as we’d love to see you in-person, we ask that you use an alternative channel if possible.
Online
Drive-Up
Call For Service — 888.902.5662
ATMs
Business Resources
IOWA Business Recovery
The Iowa Economic Development Authority is extending grants available for Iowa restaurants and bars economically impacted by COVID-19. Program details will be announced the week of January 25, 2021. Learn more: https://www.iowaeda.com/covid-funding-programs/
PPP Loans
A second round of Paycheck Protection Program (PPP) funding was approved in December with new guidance issued January 8. Learn more about a few of the changes here:
Our experienced lenders are available for help with loans or other financial resources. If your business is struggling, reach out to a local lender directly or call 888.902.5662.
Federal Resources
U.S. Small Business Administration:
COVID-19 Funding Options
COVID-19: Small Business Guidance & Loan Resources
U.S. Dept. of Treasury
CARES Act — Assistance for Small Businesses
Paycheck Protection Program – Small Businesses
State Resources
Minnesota:
MN Chamber of Commerce COVID-19 Business Toolkit
MN Sales and Use Tax Extension
Iowa:
COVID-19 Iowa Business Recovery
Iowa Chamber of Commerce COVID-19 Resources
South Dakota:
SD Office of Economic Development – Small Business Relief Fund
Consumer Resources
Bank Midwest assistance
Savings Withdrawal Limits Suspended
Update April 24: With lobbies closed and more transactions conducted online, the Fed eased regulations and no longer restricts the number of electronic withdrawals made from savings accounts. In response, Bank Midwest will temporarily suspend the limits on savings withdrawals made by Internet transfers, mobile transfers, telephone transfers, ACH, etc. through 12.31.2020.
Service Fees Waived
The following fees will be waived for deposit accounts during March, April and May:
If you need any additional financial assistance, please call us to discuss your unique situation, 888.902.5662.
Federal Assistance
Economic Impact Payments (stimulus checks)
Consumers eligible for stimulus funds provided under the CARES act will begin seeing direct deposits in their accounts beginning mid-April. Use online or mobile banking to monitor your accounts for receipt of payment in your account. If you expect to receive a paper check by mail, the safest way to deposit your payment is by mobile deposit.
Stimulus Funds via Prepaid Debit Cards
Some consumers may receive the payment on a prepaid debit card. Prepaid cards will arrive in plain envelopes from “Money Network Cardholder Services.” The IRS plans to issue approximately four million EIPs via prepaid cards, versus the roughly 150 million already issued via ACH transfers. Learn more at IRS.gov.
Tax Relief
IRA and HSA Contribution Deadline Extended
Because the due date for filing Federal income tax returns has been postponed to July 15, the deadline for making contributions to your IRA or HSA for 2019 is also extended to July 15, 2020.
NOTE: Despite the IRA and HSA contribution extension, 5498 tax forms related to 2019 contributions will be mailed out the end of April, as usual, in accordance with existing legal requirements.
U.S. Government (business & consumer info)
Financial Help — FAQs
Be Safe
Scammers are already playing upon the fears of this outbreak. Don’t be fooled. The Federal Trade Commission offers the following tips and more at: ftc.gov/coronavirus.
Fake Check Scams
Tips from the Federal Trade Commission:
Source: “Coronavirus checks: flattening the scam curve” published by the FTC, April 8, 2020.