BIRMINGHAM, Alabama – (COMMERCIAL THREAD) –Bank of regions on Friday announced a series of financial services available to help people and businesses in parts of Alabama, Florida and Mississippi that were affected by Hurricane Sally1. Options include payment extensions, waiver of certain fees, interest rate reductions, and additional offers.
“Regions Bank has been a part of the Gulf Coast and our inland communities for many years, and we will be here in the days, weeks and months to come as the recovery from the storm progresses,” said John Turner , President and CEO of Regions Financial Corp. “These financial services are designed to facilitate recovery and we encourage all customers affected by Sally to contact us and discuss your individual needs. ”
Disaster recovery financial services available for a limited time include:
No check cashing fees for FEMA-issued checks cashed at regional branches in affected areas
Disaster Relief Mortgage Purchase and Renovation Loan Programs
Repayment assistance for personal and professional loans2
Regional fees will be waived when bank customers use ATMs of other banks in affected areas for 30 days starting Friday, September 18.3
CD withdrawal without penalty4
0.50% interest rate discount on new unsecured personal loans5
Commercial loan payment deferrals available up to 90 days from Friday, September 18²
Payment extensions available for qualified credit cardholders²
0.50% interest rate discount on standard rates for new business loans and / or lines of credit up to $ 1 million to meet recovery needs in affected areas6
0.50% interest rate discount on a new unsecured business term loan of up to $ 50,000 for up to 36 months, including waiver of origination or loan fees and options for deferral of the first payment up to 90 days6
Individuals and businesses in need of deferrals, discounts, and related assistance are encouraged to contact regions to discuss individual needs and register for applicable services. The regions also maintain a customer support program throughout the year. Through this program, bankers listen to the unique needs of individual clients and explore various options to help meet financial challenges, such as those brought on by a natural disaster.
Some locations in the regions in the Sally affected areas remain closed due to the impacts of the storm. The bank maintains a list of branch closures at this link on Regions.com. Digital banking remains available 24/7, and customer support is also accessible by phone.
Additional recovery information is available through the Disaster Resource Center, linked here at Regions.com. In addition, for any questions regarding a mortgage, customers can call the Regions Mortgage Help Line at 1-800-986-2462. For assistance with home equity and other consumer loans, clients can call 1-866-298-1113.
A dedicated team is also available at 1-800-411-9393 to answer other questions and concerns regarding banking needs.
About the Régions Finance Company
Regions Financial Corporation (NYSE: RF), with $ 144 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of personal and commercial banking services, wealth management and mortgage products and services. Regions serves customers in the South, Midwest and Texas and, through its subsidiary, Regions Bank, operates approximately 1,400 bank offices and 2,000 ATMs. Regions Bank is an equal housing lender and member of the FDIC. Additional information on Regions and its full range of products and services is available at www.regions.com.
1 Offers are available for a limited time and only to individuals and businesses affected by the recent disaster, may be subject to other exclusions and restrictions, and are subject to change without notice. All loans and lines, deferrals, extensions or withholdings are subject to required documentation and credit approval. Residence restrictions may apply. These offers are only available in the following postal codes: 32413, 32437, 32439, 32459, 32461, 32462, 32501 – 32509, 32511 – 32514, 32516, 32520 – 32524, 32526, 32530, 32533 – 32535, 32540 – 32542, 32544, 32547 – 32550, 32559 – 32563, 32565, 32566, 32568 – 32572, 32577 – 32580, 32583, 32588, 32591, 36441, 36502 – 36505, 36507, 36509, 36511 – 36513, 36521 – 36523, 36525 – 36528, 36530, 36532, 36533, 36535, 36536, 36541 – 36544, 36547, 36549 – 36551, 36553, 36555, 36556, 36559 – 36562, 36564, 36567, 36568, 36571, 36572, 36574 – 36580, 36582, 36587, 36590, 36601 – 36613, 36615 – 36619, 36628, 36633, 36640, 36641, 36644, 36652, 36660, 36663, 36670, 36671, 36675, 36685, 36688, 36689, 36691, 36693, 36695, 39452, 39552, 39553, 39553, 39452, 39552, 39553, 39553, 39562 – 39565, 39567 – 39569, 39581, 39595
2 Subject to credit approval. Interest will continue to accrue during the period the payment is skipped or deferred. For installment loans, deferral or skipping may extend the maturity of your loan but will not automatically extend optional insurance. Withholdings, skipped payments, and postponements in general (a) vary by client, (b) postpone – rather than forgive – certain payment obligations, and (c) require full payment of deferred payments to the end of the withholding or deferral period, in addition to any other amount that expires, unless you make other arrangements with the Regions to resolve the default.
3 Customers in regions that use ATMs of other companies may be charged an ATM service fee by the ATM owner.
4 The No Penalty Offer allows customers to make a partial or full withdrawal without penalty. Withdrawal without penalty must be made more than seven days after the date of issue or the most recent renewal date (whichever is later). Any other withdrawal will be subject to penalties.
5 Applications submitted online are not eligible for the loan rate reduction.
6 The New Business Loan Rate Discount cannot be combined with any other special offers or discounts. Interest will accrue during the optional 90-day deferral period for unsecured business loans, if chosen.