Welcome People's United Bank Mortgage Customers

As part of the merger of People’s United Bank with M&T Bank, your mortgage will transfer to M&T on September 1, 2022. On behalf of the mortgage servicing team at M&T, we would like to welcome you. We know you have many choices for your banking, so we’re grateful to have you as a customer and be given the opportunity to earn your future business.

  • APRIL
    TO END OF AUGUST

    No changes:

    Continue to work with People's United as you do now for the servicing of your mortgage. 

  • END OF AUGUST

    About a week before conversion on September 1:

    You will be sent an M&T Bank Mortgage Welcome Kit in the mail with details about our online services, payment options and other information about M&T. After review, call us at 1-866-791-0661 if you have any questions about the transfer of your account to M&T.

  • SEPTEMBER 8TH

    Beginning September 8th:

    - If you are currently enrolled in People’s Online Banking you will be able to access your mortgage account information online at M&T.

    - If you only have a mortgage account you will need to enroll in M&T Online Banking at mtb.com/enroll.

    Throughout September:

    - Watch for emails about how you can enroll in our online services.

    - You will receive your first billing statement. We will mail you a paper statement, and you will have the option to select electronic statements within M&T Online Banking.

What to Expect

1) Your mortgage account number is changing

2) You'll receive a Welcome Kit

A Welcome Kit will be mailed to you in mid-August. Be sure to read it carefully as there are important dates and other account information you will need.

3) How to make mortgage payments to M&T

Customers who have previously enrolled in automatic payments for their People's United Mortgage:

For most customers enrolled in automatic payment drafting, there’s no need to take any action. We’ll continue to process your payments automatically although there might be a slight delay in the drafting of your September payment.

PLEASE NOTE: a small number of customers will need to re-enroll in this service for payments scheduled after August 31, 2022. If you are impacted you will be notified in your Welcome Kit.

All other customers who are not enrolled in automatic payments for their People's United Mortgage:

Making your September Payment:

  1. Pay by Mail or In-Branch. If you are not enrolled in automatic payments or are among the small number of automatic payment customers whose ACH will not convert, please use the coupon included in your Welcome Kit to make your September payment if you wish to pay by check. Be sure to reference your new M&T account number and allow sufficient time for delivery (7 calendar days are recommended).

Starting September 8, 2022, you will be able to make your September payment one of the following 2 ways:

  1. Pay with M&T Online or Mobile Banking. Schedule your payments to occur on different days, from month to month, when it’s most convenient for you.
  2. Pay by Phone. You can also use M&T’s Automated Telephone Payment Service 24 hours a day, 7 days a week by calling 866-241-6014
  • Consider enrolling in automatic payments
    • Monthly Drafting - If you would like to enjoy the convenience of monthly automatic payments, you can enroll in M&T’s automatic payment service by visiting onlinebanking.mtb.com. To ensure automatic drafting is in place for your October payment, please enroll by September 26, 2022. 

    • Flex Drafting - payments can also be drafted in smaller amounts weekly, every other week or twice a month. Flex Draft enrollment is available at mtb.com/achenroll. Flex Drafting enrollment timeline may vary. 

Note: 
Other online payment services. If you have been making mortgage payments automatically through an online banking service or other provider, you’ll need to update the payee information and account number before your next payment due date.

4) How to access your mortgage account information online

If your mortgage is your only account with People’s United, or you’ve not used People's United Online Banking in the past, you can enroll in M&T Online or Mobile Banking any time after September 8, 2022 by visiting onlinebanking.mtb.com. If you have other People’s United accounts, and you’re currently enrolled in People’s United Online Banking, you’ll receive information separately about online access to your accounts.

See how to enroll in M&T Online Banking - View our Access My Mortgage Info Demo

5) How to access your mortgage statements

You should receive your first M&T Mortgage billing statement by mail in mid-September 2022.

After September 8, 2022 you will be able to enroll in mortgage eStatements. 
See how to enroll in eStatements.

It is recommended that you save or print your People’s United online documents as they will no longer be available after September 1, 2022. 

6) You will need to update your insurance policy(s)

Please contact your insurance agent to update the mortgagee clause in your homeowner’s insurance policy, including flood insurance if you have it, to the following:

M&T Bank
ISAOA loan # (new M&T loan number)
PO BOX 5738
Springfield, OH 45501-5738

Please provide us with a copy of the updated certificate of insurance or declaration page by September 30, 2022. You can mail it to the address above or email it to: mtb@coverageinfo.com.

You can also upload a copy online at www.mycoverageinfo.com/mtb beginning September 8, 2022.

7) Receiving your 2022 Tax Forms

In January 2023, we will send you a mortgage statement for IRS reporting that will include all your mortgage activity for 2022. You will not receive a separate tax statement from People’s United.

We are here for you

If you have any questions, call us at 1-866-791-0661, Monday through Friday, 8:30am–9:00pm, ET. Thank you for allowing us to serve your banking needs.