Bank of regions on Wednesday announced a series of financial services to help people and businesses affected by Hurricane Ida.
In addition, the Regions Foundation, a nonprofit initiative funded primarily by the Regions Bank, announced a commitment of $ 250,000 in grants to organizations providing disaster relief.
Special banking services:
Regions Bank is currently assessing the impacts on its branch network in areas affected by the storm. While the schedule for reopening individual branches in the hardest hit areas will change in the coming days, banking services remain available 24 hours a day via Regions.com [regions.com] and the Mobile application of the regions [regions.com]. Services are also available by calling 1-800-REGIONS or specific departments of the bank, as noted below.
The disaster recovery financial services [regions.com] offered by the Banque des Régions in the affected areas1 are available for a limited time starting September 1, 2021. The areas covered by these services may be expanded to include additional communities based on ongoing damage assessments. Among the services:
- Loan programs for the purchase and renovation of disaster relief mortgages are available.
- The regions fees will be waived when customers in the regions use the ATMs of other banks in the affected areas for at least 15 days from September 1. (Note: Fees charged by other banks or ATM owners may still apply.)
- No check cashing fees will be charged for checks issued by FEMA when cashed at a regional branch.2
- Payment deferrals for credit card holders may be available depending on individual circumstances.3
- Personal and business loan repayment assistance may be available depending on individual circumstances.3
- Business loan payment deferrals of up to 90 days may be available depending on individual circumstances.3
- CD withdrawal without penalty is available upon request (except within seven days of issuance or renewal).
- An interest rate discount of 0.50% is available until November 30, 2021 on new unsecured personal loans when customers request it in a branch or by phone.4
- An interest rate discount of 0.50% on standard rates is available until November 30, 2021 for new business loans or lines of credit up to $ 1 million to meet trade-in needs in affected areas.4
- An interest rate rebate of 0.50% is available until November 30, 2021 on new unsecured commercial term loans up to $ 50,000 with terms of up to 36 months, including waiver set-up costs and loan documents, as well as options for the first payments to be deferred for up to 90 days.4
- To verify www.regions.com/HurricaneIda [regions.com] for an updated list of areas where these offers are available as damage assessments continue.
In addition to the above disaster recovery services, Regions Bank teams can be reached at the following numbers for personalized advice on a range of lending products, including:
- Mortgages, Home Equity Loans & Margins: 1-800-748-9498
- Other consumer loans: 1-866-298-1113
- Any other banking need: 1-800-411-9393
Marta Self, executive director of the Foundation of the Regions, said the total of $ 250,000 will be distributed among several agencies meeting short and long term needs. Initial grants out of the total of $ 250,000 will include:
- $ 50,000 for the Louisiana region of the American Red Cross [redcross.org], which works with community partners provide shelter and comfort [redcross.org] for people in need;
- $ 50,000 for The Salvation Army’s Alabama-Louisiana-Mississippi Division [salvationarmyalm.org], which is managing large-scale relief operations in several areas hard hit by Ida;
- $ 25,000 for United Way of Southeast Louisiana [unitedwaysela.org] in New Orleans, which administers a Hurricane Ida Relief Fund [unitedwaysela.org];
- and $ 25,000 for the Houma-based company United Way of South Louisiana [uwsla.com], which serves Assomption, Lafourche, Sainte-Marie and Terrebonne parishes.
- The remaining funding of the total of $ 250,000 will be allocated to organizations based on long-term needs that emerge over the coming months.
“Nonprofits and humanitarian organizations are doing an incredible job of meeting urgent needs, and through these grants, our goal at the Regions Foundation is to provide resources that will support their real-time response to the storm,” Self said. “Additional needs will develop as our communities rebuild themselves stronger, and the Foundation of the Regions will be there to support ongoing work in the future. We also encourage individuals and businesses who are in a position to donate to think about how they can also support nonprofits that are on the front lines in helping those affected by Hurricane Ida. “