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

Mutual Federal, a division of First Bank Richmond, is committed to helping our customers during these uncertain and challenging times. The circumstances concerning COVID-19 are rapidly evolving and we are dedicated to respond to those changes as they are presented and provide our customers with the highest level of service and attention. We encourage you to reach out to us at any time with any questions and concerns you may have resulting from the impact of the COVID-19 pandemic.

To practice social distancing and promote general wellness for the communities that we serve, our lobbies are temporarily closed but our drive-thrus are open. There are several ways to continue banking during this time which include:

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.

We are in this together. If you are experiencing a financial hardship at this time, Mutual Federal is here to provide the resources you need. 

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

Most American adults will receive stimulus funds from the U.S. government soon. The amount of funds for each adult will vary based on a number of factors. For complete information concerning program eligibility please visit the IRS Economic Impact Payment Information Center.

  • Check the status of your payment

    To check on the status of your payment, please check the IRS Economic Impact Payments page for information helpful to those that filed taxes in 2018 and/or 2019 and to those that are non-filers.

  • How to know if your stimulus payment has been deposited into your First Bank 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 nearly 440 small business customers in our communities through the Paycheck Protection Program.  The over $60 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)

  • Purpose: Emergency working capital to keep your business operating during COVID-19
  • Use of Funds: Working capital, including payroll expenses, mortgage interest payments, rent and utilities, interest on debts that were incurred prior to February 15, 2020.
  • Amount: Loans can be for up to two months of your average monthly payroll costs from the last year plus an additional 25% of that amount. That amount is subject to a $10 million cap. If you are a seasonal or new business, you will use different applicable time periods for your calculation. Payroll costs will be capped at $100,000 annualized for each employee. 
  • Rate: 1.00% Fixed
  • Structure: 2-year term. All payments are deferred for 6 months; however, interest will continue to accrue over this period.
  • Forgiveness: You will owe money when your loan is due if you use the loan amount for anything other than payroll costs, mortgage interest, rent, and utilities payments over the 8 weeks after getting the loan. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs. You will also owe money if you do not maintain your staff and payroll. Click here for the Paycheck Protection Program Loan Forgiveness Application.
  • Features: No collateral or guarantor support required.

*See the Borrower Overview for complete details.

We are accepting and submitting applications for the Paycheck Protection Program (PPP). If you are interested, please fill out the application, payroll summary spreadsheet, supply the necessary supporting documentation and contact your lender. 

Applications are limited to Bank customers only.


Here are some additional informational pages concerning PPP:

PPP GENERAL OVERVIEW For a top-line overview of the program.
PPP BORROWER OVERVIEW If you're a borrower, more information can be found here.

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:


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: