Initiatives to assist and support impacted customers, employees and communities

Branches and offices adopt new social distancing strategies

Employees have additional 80 hours of paid time off available, plus flexible scheduling

$25 million in loans to Community Development Financial Institutions (CDFIs) for small business loans

BOSTON – March 23, 2020 – Santander US (“Santander”) announced today that it is taking important steps across its businesses to assist and support its customers, employees and communities impacted by the Coronavirus pandemic. In addition, Santander has taken numerous precautionary measures to help mitigate the risk of contagion.

“Banks are a critical part of our national infrastructure and community fabric, especially in difficult times such as the current Coronavirus pandemic, and we take very seriously our responsibility to help our customers, employees and communities,” said Tim Wennes, Santander US CEO. “Santander will continue to support all our stakeholders – today and in the weeks and months ahead – as we face and, ultimately, overcome this pandemic together.”

To that end, we are taking the following actions for customers affected by covid-19:

For Santander Consumer and Chrysler Capital Auto Finance Customers and Automobile Dealers

• We are assisting current customers who reach out to our Customer Assistance Team, including:
  • Expanded payment deferrals
  • Waiving late charges
  • nsions for lessees unable to return their vehicles
• For our Chrysler dealers and prospective Chrysler Capital customers, we are partnering with FCA to launch new programs, including:
  • First payment deferred 90 days on select FCA models
  • 0% Annual Percentage Rate for 84 months on select 2019/2020 FCA models

For Santander Bank Consumer and Small Business Customers

• Temporary payment suspension, and refunding late payment and overdraft fees
• Stopping collections calls, and suspending mortgage and home equity line of credit foreclosures
• Waiving CD early withdrawal penalties, and waiving outgoing wire fees for consumers
• Increasing ATM cash withdrawal amounts available
• Offering a number of options for small businesses, including extensions and payment deferral  accommodations for existing clients
• Offering credit card limit increases

For Employees

• Established a Temporary Emergency Paid Leave Program that provides employees with up to 80 hours of additional paid time off to use – either continuously or intermittently, and before exhausting other paid time off – to assist with dependent care needs related to the Coronavirus
• Providing $250 a week in pay premiums for branch and other frontline customer support workers to help defray additional costs incurred while coming to work during the pandemic
• We are following detailed protocols to ensure the health and safety of our employees; the majority of our non-location-dependent employees are now working from home 
• Implemented flexible and alternate scheduling among branches and call centers 

For Communities

Santander US is committed to supporting our communities impacted by the covid-19 pandemic. In addition to our ongoing support for nonprofit partners providing essential services in our communities, including $15 million in charitable giving this year, Santander will provide $25 million in financing to Community Development Financial Institutions (CDFIs) to fund small business loans across Santander Bank’s footprint. We also will expedite grant funding and payments where possible to help sustain nonprofit operations during this challenging time.

Changes to Santander Bank Branch Operations to Support Social Distancing

Starting March 23, 2020, some of our branches will temporarily become Limited Service locations, which will continue to perform teller transactions such as depositing and cashing checks, handling requests for cash withdrawals, money orders and cashier’s checks either in the lobby or at the drive-thru; investment, mortgage, and business specialists will be available by appointment or over the phone. Full Service branches will continue to operate with full servicing capabilities including account openings and servicing. Additionally, we will increase social distancing in our branches to reduce risks for our customers and employees.

Contact Information for Customers:

Santander Bank customers with Coronavirus concerns can contact a service agent at (844) 728-0999, or online at santanderbank.com/us/coronavirusupdates. Customers with hearing impairments can call 800.428.9121 (TTY/TDD), seven days a week from 6 a.m. to 10 p.m. ET.  Business Banking customers may request assistance by calling (877) 768-2265 or contacting their Relationship Manager. Customers can utilize the mobile banking app and access online banking via our website any time to help with their banking needs. 

Santander Consumer USA (SC) customers who have questions about their accounts can contact SC by phone at (888) 222-4227 or online at www.santanderconsumerusa.com. Customers with Chrysler Capital accounts can reach a service agent at 855-563-5635, or online at www.chryslercapital.com.

Banco Santander International – Miami customers can call 1 (305) 530 2900.

Santander Holdings USA, Inc. (SHUSA) is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN) (Santander), a global banking group with more than 145 million customers in the U.S., Europe and Latin America. As the intermediate holding company for Santander's U.S. businesses, SHUSA is the parent organization of six financial companies with approximately 17,000 employees, 5.2 million customers and assets of over $147 billion as of Dec. 31, 2019. These include Santander Bank, N.A., Santander Consumer USA Holdings Inc. (NYSE: SC), Banco Santander International of Miami, Banco Santander Puerto Rico, Santander Securities LLC of Boston, Santander Investment Securities Inc. of New York, and several other subsidiaries.

Santander Consumer USA Holdings Inc. (NYSE: SC) ("SC") is a full-service consumer finance company focused on vehicle finance, third-party servicing and delivering superior service to our more than 2.9 million customers across the full credit spectrum. The Company, which began originating retail installment contracts in 1997, had an average managed asset portfolio of approximately $59 billion (as of December 31, 2019), and is headquartered in Dallas. (www.santanderconsumerusa.com)

Media Contacts: 

Laurie Kight
Santander US
214-801-6455  
laurie.kight@santander.us

Nancy Orlando
Santander Bank
617-757-5765
nancy.orlando@santander.us

Annette Rogers
Santander Consumer USA 
469.563.4157
media@santanderconsumerusa.com

Investor Relations:

Evan Black
Santander US Investor Relations
800.493.8219
investorrelations@santanderconsumerusa.com