OneMain Financial Extends Relief to Customers Impacted by Kentucky Flooding, Commits Resources to Affected Communities

Rhea-AI Summary

OneMain Financial has launched a Borrower’s Assistance program for customers in Kentucky affected by recent flooding, effective from August 2 to September 2. The program allows eligible borrowers in 13 counties to defer loan payments without incurring late fees or returned payment fees. A community relief event will be held on August 13 in Hazard, KY, to distribute supplies. OneMain operates 35 branches in Kentucky, servicing nearly 54,000 customer accounts. The initiative underscores the company's commitment to supporting local communities during crises.

Positive

• Launch of Borrower’s Assistance program for flood-affected customers.
• Eligibility for loan payment deferrals without late fees.
• Community relief event scheduled for assistance.

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• None.

NEW YORK--(BUSINESS WIRE)-- OneMain Financial, the leader in offering nonprime customers responsible access to credit, has implemented a Borrower’s Assistance program to provide relief to customers in Kentucky affected by recent flooding. The program, which went into effect Aug. 2, will provide options to eligible customers, including deferring loan payments. The assistance will be available through Sept. 2 for customers in 13 counties in eastern Kentucky: Breathitt, Clay, Floyd, Johnson, Knott, Leslie, Letcher, Magoffin, Martin, Owsley, Perry, Pike and Wolfe.

OneMain will host a community relief event on Saturday, Aug. 13, at the company’s branch in Hazard, KY, to distribute supplies. In addition, OneMain team members are leading online and in-person collection drives to gather food and other necessities.

"The damage in eastern Kentucky is devastating, and we are committed to helping our local communities get through this difficult time,” said Tracey Woodyard, who heads OneMain’s office in London, KY. “As part of the state, we want to support our fellow Kentuckians and important recovery efforts.”

OneMain has 35 branches in Kentucky in addition to the company’s London site, employing about 500 people. The company services nearly 54,000 customer accounts in the state.

In addition to a possible deferment, the program ensures that eligible borrowers who have contacted a OneMain representative and been accepted into the program do not incur late fees and returned payment fees.

Customers should call 844-791-3990 to discuss assistance options.

About OneMain Financial

OneMain Financial (NYSE: OMF) is the leader in offering nonprime customers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. We empower our customers to solve today’s problems and reach a better financial future through personalized solutions available online and in 1,400 locations across 44 states. OneMain is committed to making a positive impact on the people and the communities we serve. For additional information, please visit OneMainFinancial.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220803005842/en/

Kelly Ogburn

410-537-9028

kelly.ogburn@omf.com

Source: OneMain Financial

FAQ

What is the Borrower’s Assistance program launched by OneMain Financial?

It's a program providing loan payment deferments for flood-affected customers in Kentucky.

When does the Borrower’s Assistance program take effect?

The program is effective from August 2 to September 2.

Which counties in Kentucky are eligible for the assistance?

The program is available in 13 counties including Breathitt, Clay, and Floyd.

What is the purpose of the community relief event on August 13?

The event aims to distribute supplies to those affected by flooding in Kentucky.

How many branches does OneMain Financial operate in Kentucky?

OneMain operates 35 branches across Kentucky.