COVID-19 Resource Center

Working to respond to the rapid changes and questions facing us all.

Our Response to Coronavirus (COVID-19) and our Commitment to You

All of our lobbies will officially be open normal business hours effective June 8, 2020. The well-being of our customers and staff is our top priority. To maintain a safe environment during this time, we’ve made some updates to the standard practices within our lobbies.

For more info about what to expect, please visit our Lobby Guidelines page.

As always, drive-thru service is available, as well as our remote banking options:

Allpoint ATM Network - Mutual Federal customers with Visa-branded debit cards have access to Allpoint surcharge-free ATMs. All of our branches also have ATMs where cash can be dispensed.

Phone Banking 866-331-6372 - Access your account activity, check your balances, make transfers between your accounts or pay your loan.

Online Banking - View your account(s), check your balances, make transfers between your accounts, pay your loan, send a payment to a person or pay your bills.

Mobile App - View your account activity, make transfers or deposit a check with mobile check deposit.

COVID-19 Resources for Individuals

At times of uncertainty, one thing you can always count on is the safety of your money at a bank. When you deposit your money at a bank, you get the comfort of knowing that your funds are secure and insured by the government. Uncertain times are exactly when you want the certainty and dependability of a bank. 

Information regarding stimulus checks to individuals

As government stimulus checks are received, they will be deposited into accounts.

How to know if your stimulus payment has been deposited into your Mutual Federal account

You’ll be able to see the credit in your account activity using Mutual Federal Online Banking or the Mutual Federal Mobile Banking App.


FREQUENTLY ASKED QUESTIONS for Bank Customers Affected by COVID-19

If you need payment assistance regarding your First Bank Richmond Credit Card, please contact the TCM Customer Service line at 1-800-883-0131.

COVID-19 Resources for Businesses

Mutual Federal understands the critical role small businesses play in the vitality of our communities and our economy. To help you through this uncertain time, we’ve assembled some resources to support you and your business.

Mutual Federal, a division of First Bank Richmond is excited to report that we have helped 460 small business customers in our communities through the Paycheck Protection Program.  The nearly $65 million dollars that was loaned to these small businesses will help alleviate the effects of this pandemic. This is just another example of Mutual Federal and its customers “Doing great things together”.

Paycheck Protection Program (PPP)

We are now accepting applications for PPP Loans. Due to the heavy volume of requests, we will only be offering PPP loans to current customers. 

To apply for a PPP loan with Mutual Federal, please complete the appropriate application below and return it to your loan officer in person or via secure email.

SBA Form 2483 – First Time Borrower Application Form

SBA Form 2483-SDSecond Draw Loan Borrower Application Form

Top-Line Overview of First Draw PPP Loans

Top-Line Overview of Second Draw PPP Loans

Procedural Notice - SBA Procedural Notice on Repeal of EIDL Advance Deduction Requirement

Here is additional information concerning PPP loans:

View Updated Frequently Asked Questions
How to Calculate Maximum Loan Amounts for First Draw PPP Loans and Documentation to Provide
Second Draw PPP Loans: How to Calculate Revenue Reduction and Maximum Loan Amounts

View Interim Final Rule Amending PPP Rules
View Interim Final Rule on Second-Draw Loans
View the PPP Loan Access Guidance

If you would like to speak with someone concerning the Paycheck Protection Program, please click the link below and complete the form and a specialist will contact you.


Here are additional resources that may be of assistance:


PPP Forgiveness

The Small Business Administration has released a three-page “EZ” Paycheck Protection Program loan forgiveness application requiring less documentation and fewer calculations than previously required from Form 3508. The streamlined forgiveness form is expected to smooth the forgiveness application process for a substantial portion of PPP borrowers. SBA also updated the regular Form 3508 to reflect recent changes made by Congress in the PPP Flexibility Act and issued a new interim final rule that implements changes made by the PPPFA. Form 3508EZ applies to borrowers who meet any one of these three criteria:

  • Applied for the PPP loan as self-employed, an independent contractor or a sole proprietor with no employees.
  • Did not reduce salary or wages for any employee by more than 25%, and did not reduce the number or hours of their employees (excepting laid-off employees who refused an offer to return).
  • Did not reduce salary or wages for any employee by more than 25% during the covered period and experienced reductions in business activity as a result of health directives related to COVID-19.

Download updated Form 3508EZ & Instructions
Download updated Form 3508 & Instructions
Read the interim final rule

Borrowers may submit their completed applications to their lender at any time for submission to the SBA.

For clarification purposes, the SBA loan number and the First Bank Richmond loan number are exactly the same and can be located near the top of the paperwork that you signed. 

If you have questions pertaining to filling out the application forms, we are referring you to your CPA for guidance.

PPP Forgiveness Streamlined ($150,000 or less)

The SBA has released a streamlined loan forgiveness application for Paycheck Protection Program loans totaling $150,000 or less. The two-page forgiveness application, Form 3508S, includes certifications from the borrower, but does not require calculations to be submitted with the application.

See full instructions and requirements in the links below.

Download updated Form 3508S & Instructions
Read the Interim Final Rule

Economic Injury Disaster Loans (EIDL)

  • Purpose: To supplement lost revenue on account of COVID-19
  • Use of Funds: Payroll expenses, fixed debts, accounts payable, other expenses
  • Amount: Up to $2MM
  • Rate: 3.75% or 2.75% for non-profits
  • Structure: Up to 30 years
  • Forgiveness: None
  • Features: Guarantor support and any available collateral required
  • How to Apply:

For more information concerning the Coronavirus (Covid-19), please visit:

Centers for Disease Control & Prevention
World Health Organization
IRS Corona Tax Relief
IRS Corona Paid Leave Information