COVID-19 04/23/2020

Update April 23, 2020

Paycheck Protection Program (PPP)

This program was established on March 27, 2020 under the CARES Act in order to help small businesses continue their operations, specifically to keep their employees employed. $349 billion was set aside for this purpose and was to be administered by the SBA (Small Business Administration) through SBA approved lenders. In order to reach more businesses in need, the SBA created a fast track approval process to add more lenders to distribute PPP funds. Greater Metro applied and was approved.

The initial funding was exhausted on April 16th and no additional applications were allowed to be processed. The President and Congress have been working to replenish the fund and another $300 billion may become available by April 23rd.

Any member who has a business may qualify for these loans. For additional information, please email

We at Greater Metro hope you are faring well under the frightening conditions we are all facing. Our commitment to serve all of you continues. We have most of our staff working remotely from home who are able to take member calls and transact your requests. Our Teller Window in Long Island City closes at 2PM (Please call ahead for cash withdrawals greater than $1,000). Our VA Branch hours have unfortunately been curtailed to operate only on Payroll Fridays from 9AM-2PM until further notice. Please check the signage on the door or call the main office in Long Island City.

As many of you know of and utilize our Shared Branching Network, please check with them as to their access and hours. Many have gone to strictly drive-through service.

This would be an opportune time to sign up for our electronic services. It’s Me 247 Online Banking, Bill Pay, our Mobile App, and Remote Deposit Capture.

Due to the current health crisis and the uncertainty with returning to normal, the Board of Directors has decided to reschedule the date of the Annual Meeting from Wednesday May 20, 2020 to Wednesday September 23, 2020.

Stay in Touch!


Stay Safe!

Peter Nalaskowski